SAN DIEGO, Sept. 20, 2017 /PRNewswire/ -- Johnson Fistel, LLP, a shareholder rights law firm, is investigating potential claims on behalf of investors of Amgen Inc. (NASDAQ: AMGN) ("Amgen"). Amgen discovers, develops, manufactures, and delivers human therapeutics worldwide.

Specifically, Johnson Fistel is investigating if Amgen misled investors about the results of a clinical study of a drug called Repatha, used to reduce low-density lipoprotein ("LDL") cholesterol and associated cardiovascular events. Repatha was approved by the U.S. Food and Drug Administration in 2013, but there was not enough evidence of its effectiveness in reducing cardiovascular risk to convince many insurance companies to cover its $14,000 per year price tag. Amgen and its investors hoped that the FOURIER1 clinical study would produce such evidence and compel insurance companies to reimburse the cost of the drug. To do so, the study would have to show a relative risk reduction of 20% or more.

On March 17, 2017, Amgen issued a press release announcing the full results of the study. Amgen disclosed that the FOURIER study showed a relative risk reduction of only 15%, far below the 20% threshold necessary to materially increase insurance coverage. Following this news, the price of Amgen shares dropped $11.34 per share to close at $166.28 per share on March 17, 2017, a one-day decline of 7.6% on volume of 23.9 million shares

If you purchased shares of Amgen before March 17, 2017, and are interested in learning more about the investigation or your legal rights and remedies, please contact Jim Baker (jimb@johnsonfistel.com ) at 619-814-4471. If you email, please include your phone number.

About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.

Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com

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SOURCE Johnson Fistel, LLP