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Fly News Breaks for January 9, 2020
AMGN
Jan 9, 2020 | 07:21 EDT
BMO Capital analyst Do Kim raised his price target for Amgen to $275 from $240 in order to include AMG 510 in his model with estimated peak sales of $2.4B in NSCLC and CRC only. Kim tells investors in a research note that he believes the Otezla acquisition will improve top-line growth to nearly 10% from flat previously, with potential for Otezla to exceed consensus estimates given Amgen's greater experience in the immunology space. The analyst made no change to his Outperform rating.
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