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FDA Hearing Could Boost Or Bust Biotechs

money.cnn.com

The biomed and biotech industry group skidded from 17th to 75th in IBD's ranking of 197 industry groups in the six weeks through Monday. The group is down almost 20% for the year.

A Food and Drug Administration meeting Thursday on Amgen's (NASDAQ:AMGN) AMGN anemia treatment drugs may either improve or worsen that trend.

The FDA panel will consider whether recent studies suggest that the use of the three Amgen drugs -- one of which is marketed by Johnson & Johnson (NYSE:JNJ) JNJ -- should see further restrictions. The studies pushed the FDA last week to amend the drugs' labels to warn that high dosages could pose risks to some cancer patients.

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