AMGN +4% on Repatha CVOT top-line results. A modest gain is warranted, IMO, because AMGN has not yet revealed the HR of the primary (MACE) endpoint, and the CVOT was large enough to have 90% statistical power to detect a mere 15% relative reduction in MACE risk.
Note that a 15% relative reduction in MACE risk should equate to an absolute reduction in MACE risk of ≤1% in the primary-prevention population that was tested in the CVOT.
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