Am­gen scraps or halts a slate of 5 can­cer stud­ies in a se­ries of set­backs. But ex­ecs fo­cus on mas­ter­ing 'in­duced prox­im­i­ty'

Am­gen rolled out their Q4 num­bers Tues­day af­ter­noon, while flag­ging that a long line­up of its can­cer ther­a­py stud­ies has been halt­ed as they re­view safe­ty ques­tions on one drug and scrap sev­er­al oth­ers in a pipeline re­or­ga­ni­za­tion. But the main R&D fo­cus dur­ing the call with an­a­lysts re­volved around plans to make Am­gen the in­dus­try leader in what ex­ecs are call­ing “in­duced prox­im­i­ty.” And they sound pre­pared to ink some BD deals to make that hap­pen.

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