Beginning price: $64.11
Ending price: $87.6
The reason Amgen ($AMGN) is trading at record-high prices has as much to do with financial basics as drug sales or pipeline promise, RBC Capital Markets analyst Michael Yee explained to Bloomberg after it soundly beat Wall Street earnings estimates. It has a $10 billion share buyback program, pays a dividend and is managing the revenue decline from its key anemia drugs. The share price rise accelerated in May when Robert Bradway became CEO of the world's largest biotech company. Oh, and the company has also published some positive data showing its drug for lowering bad cholesterol reduced LDL by as much as 63%, as it competes with a number of competitors to find a successor to Lipitor.
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