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Amgen's Shameful Silence Covers Up Reasons for FDA Drug Rejection

An Amgen (AMGN) drug to treat secondary hyperparathyroidism was rejected by U.S. regulators on Wednesday, but in an egregious abdication of corporate transparency, the biotech company offered no public explanation at all for why the drug's marketing application was denied.

Amgen delighted in touting the bright prospects of the drug known as Parsabiv to investors as it cleared several late-stage clinical trials. Now that the U.S. Food and Drug Administration has rejected Parsabiv, Amgen owes investors a lot more disclosure than the opaque statement issued Wednesday...