EPO and chronic kidney disease: FG‐4592 also induces HIF‐mediated expression of erythropoietin and inhibits expression of hepcidin as part of its function to treat anemia in patients with chronic kidney disease.(16) The equivalent effect of FG‐4592 and DMOG on osteoclast activity suggests that effects of hypoxia on osteoclast‐mediated bone resorption are driven predominantly by the PHD enzymes, as we have previously reported.(19, 22)