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New York, NY - WePickPennyStocks.com is pleased to alert investors of stocks on the move.

Amgen Inc. (AMGN) and its subsidiary Immunex Corp. agreed to pay Illinois $7.2 million to settle allegations the companies inflated the wholesale price index used for setting Medicaid reimbursements.

In 2005, Illinois Attorney General Lisa Madigan sued the companies and a handful of other drug makers, alleging violations related to the average wholesale price of numerous prescription drugs. The suits accused the companies of fraudulently publishing inflated prices. State Medicaid programs use the average wholesale price to determine reimbursement amounts for drugs prescribed to Medicaid patients. The lawsuit says the inflated prices resulted in overpayment of drug costs in the state.

After touching an intraday high of $60.95 in an opening trade, the Stock is currently trading at $60.44 moved up about 16% on over 23 million shares. In the last 52-week, the stock has been trading within a range of $66.51-$44.94.

About Amgen Inc.
Amgen Inc. is a biotechnology company that discovers, develops, manufactures and markets human therapeutics-based on advances in cellular and molecular biology. The Company operates in human therapeutics. It markets human therapeutic products in the areas of supportive cancer care, nephrology and inflammation. Its principal products include Aranesp (darbepoetin alfa), EPOGEN (Epoetin alfa), Neulasta (pegfilgrastim), NEUPOGEN (Filgrastim) and Enbrel (etanercept). Aranesp and EPOGEN stimulate the production of red blood cells to treat anemia and belong to a class of drugs referred to as erythropoiesis-stimulating agents (ESAs). On January 4, 2008, the Company completed the acquisition of Dompe Biotec, S.p.A.

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