Dallas, Texas 07/17/2015 (Financialstrend) – Phase 2 open label, single arm and multi-center trial for Amgen, Inc. (NASDAQ:AMGN)’s BLINCYTO (blinatumomab) drug was a success having posted top line results for adults with relapsed or refractory acute lymphoblastic Leukemia. According to test results, the study proved that blinatumomab monetary could be relied upon for complete remission with partial hematological recovery within two cycles of treatment.
Safety results of the study were consistent with blinatumomab safety profile according to Amgen, Inc. (NASDAQ:AMGN). Topline results according to executive vice president for research and development, Sean E. Harper show support for the use of blinatumomab as a treatment option for patients with relapsed or refractory Philadelphia chromosome-positive B-cell.
Further studies of the drug are to continue according to the executive with a view of validating its clinical effectiveness for patients with the serious disease. The drug is the first single agent immunotherapy to receive the FDA approval for the treatment of patients with Philadelphia Chromosome Negative (Ph-). It had already been awarded the breakthrough therapy and priority review designation prior to being approved.
Amgen’s Long Term Prospects
Having achieved top line results for blinatumomab the Street attention now shifts to Amgen, Inc. (NASDAQ:AMGN)’s most priced drug in the name of Kyprolis. It is refractory multiple myeloma drugs currently approved as a third-line treatment. The treatment generated $100 million in sales in the first quarter with estimates showing it could generate up to $500 million by year end.
FDA approvals for such drugs has been the main catalyst behind Amgen’s impressive run in the market over the past four years. A matured product portfolio has continued to affirm Amgen, Inc. (NASDAQ:AMGN)’s credential as blue-chip stock in the biotech space
The company’s double-digit earnings and revenue growth is expected to continue thanks to the pipeline of drugs waiting to be approved by the FDA. Its biosimilar pipeline should be one of the strongest catalysts to watch out for as estimates show they could be worth $3 billion in annual sales.