BUSINESS BRIEFING / PHARMACEUTICALS

Amgen Inc. shares rose after study results for the cancer drug Vectibix led at least one analyst to equate the medicine with rival treatment Erbitux from Eli Lilly & Co.

Vectibix failed to meet a statistical threshold for prolonging lives, the Thousand Oaks company said. Still, the results were like those found in a study of Erbitux, said Geoff Porges, an analyst at Sanford C. Bernstein & Co. in New York.

Amgen is seeking U.S. regulatory approval to promote Vectibix as a first-line treatment.

Its shares rose $1.93, or 3.7%, to close at $54.05.