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IN BRIEF / PHARMACEUTICALS

Medicare Payment for Amgen Drug to Rise

November 01, 2003|From Reuters

Amgen Inc. said Medicare would pay more for the company's anemia drug Aranesp starting next year.

Reimbursement in the hospital outpatient setting for Aranesp will rise 37% in 2004, narrowing the gap between it and rival Johnson & Johnson's older drug Procrit, a spokesman for Amgen said. Aranesp is a longer-lasting version of Amgen's blockbuster anemia drug Epogen.

Amgen's shares rose 65 cents to $61.76 on Nasdaq.

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