Amgen Bone-Building Drug Shows Promise in Study

Amgen Inc. got an injection of upbeat news as its new bone-building drug was found to reduce the risk of spinal and hip fractures in a study of 7,800 women.

The good news came after the market's close. In 4 p.m. Nasdaq Stock Market composite trading Friday, Amgen's shares were up eight cents to $53.92. After hours, the shares rose 14% to $61.44.

The Thousand Oaks, Calif., biotech company has suffered plunging sales ...