Amgen gets FDA approval for new lung-cancer drug

Shares of Amgen were up 0.5% in trading on Friday after the Food and Drug Administration said it approved Amgen’s Lumakras, a new therapy for adults with a certain type of non-small cell lung cancer. Before patients qualify for treatment, they have to test positive for the KRAS G12C mutation and have previously undergone treatment. An Amgen executive described the mutation as previously “undruggable.” Amgen said the list price of Lumakras is $17,900 per month, according to a spokesperson. Amgen’s stock is up 2.7% so far this year, while the broader S&P 500 has gained 11.8%.

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