June 13, 2013 at 16:34 PM EDT
New Amgen Drug Receives FDA Approval (AMGN)

Biopharmaceutical firm Amgen (AMGN) has just had a major new drug, called “XGEVA,” approved by the FDA.

XGEVA will be used to treat patients with giant cell tumor of bone (GCTB) where surgery presents too many dangers to be a viable option. GCTB often presents itself in individuals between the ages of 20 and 40, and causes fractures in the bones and, if left untreated, can lead to serious complications.

The new drug, which passed the FDA’s rigorous testing, will be administered as an injection to patients, who meet the qualifications, in order to help alleviate and heal the damage done by GCTB.

Amgen shares were up $2.14 or 2.17% at Thursday’s close. The stock is currently 14.3% off of its 52-week highs.

The Bottom Line

Shares of Amgen (AMGN) have a 1.91% yield based on Thursday’s closing price of $98.51.

Amgen (AMGN) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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