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Thursday, Mar 28, 2024
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Briefs: Amgen, LTC, Rose Parade

A study has found that an Amgen Inc. experimental drug to treat osteoporosis can increase bone density. The drug, romosozumab, is in Phase 3 clinical development by the Thousand Oak biopharmaceutical company for the treatment of osteoporosis in postmenopausal women. The study, published Wednesday in the New England Journal of Medicine, found that a 12-month treatment of romosozumab significantly increased bone density measured in the lower spine, hip and neck. Moreover, Romosozumab performed better than two competing medications already on the market, Fosamax from Merck & Co. and Forteo made by Eli Lilly Co. “With its bone-forming ability, romosozumab may result in new treatment strategies to help manage this disease,” said Dr. Sean Harper, Amgen’s executive vice president of research and development, in a statement. Shares closed up $1.71, or 1.5 percent, to $115.79 on the Nasdaq. LTC Properties Inc. has declared a monthly cash dividend of 17 cents a share on its common stock for the first quarter, the company announced on Thursday. The Westlake Village real estate investment trust will pay the dividends on Jan. 31, Feb. 8 and March 31 respectively, to stockholders of record on Jan. 23, Feb. 20 and March 21. LTC has investments in 84 skilled-nursing properties, 105 assisted living facilities and nine range-of-care properties, among other holdings. Shares closed down 13 cents, or a fraction of a percent, to $35.26 on the New York Stock Exchange. Two San Fernando public companies were recognized for their Tournament of Roses Parade floats on New Year’s Day. The “Adventure in Space” float by Public Storage Inc. of Glendale was given the Grand Marshal’s Trophy for its excellence in creative concept and design. The float was built at the Glendale real estate investment trust’s 33 regional offices. The entry changed forms, beginning as a single float with three aliens aboard a spaceship. The ship then blossomed to stand 45 feet in the air with ramps descending, allowing for the aliens to leave the ship in their own vehicles. After greeting the crowd, the aliens returned to the ship. The “Sunrise at the Oasis” float by Dole Packaged Foods LLC took home the produce company’s four consecutive Sweepstakes Troup as the parade’s most beautiful entry. The float by the subsidiary of Dole International Holdings in Westlake Village featured a tropical oasis, with three waterfalls, three camels, two 12-foot-long peacocks and other exotic animals.

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