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Fly News Breaks for January 8, 2016
AMGN
Jan 8, 2016 | 07:05 EDT
BTIG initiated Amgen with a Sell rating and $135 price target and questions what investors should pay for 2% top-line and 5% bottom-line growth for 2015-2020. The firm believes biosimilar erosion of its leagacy-4 will be worse than expected, newly launched products Repatha and Kyprolis will underperform expectations, and the Enbrel patent scenario is not appreciated by the Street.
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