Welcome to our dedicated page for Amgen news (Ticker: AMGN), a resource for investors and traders seeking the latest updates and insights on Amgen stock.
Amgen Inc. (NASDAQ: AMGN) is a leading American multinational biopharmaceutical company, established in 1980 and headquartered in Thousand Oaks, California. As one of the largest independent biotechnology companies globally, Amgen specializes in discovering, developing, manufacturing, and delivering innovative human therapeutics. The company focuses on areas of high unmet medical need and leverages its expertise in advanced human genetics to develop solutions that dramatically improve people's lives.
Amgen's portfolio includes a range of flagship drugs such as red blood cell boosters Epogen and Aranesp, immune system enhancers Neupogen and Neulasta, and treatments for inflammatory diseases like Enbrel and Otezla. Additionally, the company has a strong presence in the oncology sector with products like Vectibix, Prolia, Evenity, and Kyprolis. Notably, the acquisition of Onyx Pharmaceuticals bolstered Amgen's oncology portfolio.
Recent launches include innovative therapies such as Repatha for cholesterol management, Aimovig for migraines, Lumakras for lung cancer, and Tezspire for asthma. In 2023, Amgen's acquisition of Horizon Therapeutics introduced several rare-disease drugs to its portfolio, including Tepezza for thyroid eye disease. Amgen also continues to expand its biosimilar portfolio, reinforcing its commitment to making advanced treatments more accessible.
Amgen's financial health is robust, with significant growth in revenues and product sales. The company's strategic partnerships and acquisitions have continually strengthened its market position. For instance, the recent Phase 3 SPROUT study demonstrated the efficacy and safety of Otezla in pediatric patients, highlighting Amgen's ongoing commitment to addressing various health needs. Furthermore, the company’s dedication to innovation is evident from its extensive pipeline of investigational drugs targeting various conditions.
Amgen has been acknowledged for its workplace culture and environmental initiatives, being named one of
Amgen has launched the African American Heart Study, a collaboration with the Association of Black Cardiologists and Morehouse School of Medicine. This observational study aims to investigate the link between Lipoprotein(a) levels and atherosclerotic cardiovascular disease (ASCVD) in 5,000 African American participants across the U.S. Cardiovascular disease poses a heightened risk to African Americans, who are 30% more likely to die from heart disease than non-Hispanic whites. The study seeks to address the underrepresentation of African Americans in cardiovascular research and may provide insights for improving clinical trial diversity.
Amgen (NASDAQ:AMGN) is scheduled to present at the 2023 SVB Securities Global Biopharma Conference on February 14, 2023, at 10:40 a.m. ET. Susan Sweeney, senior vice president of Global Marketing, Access and Capabilities, will lead the presentation. The event will be available via live webcast for media, investors, and the public.
Details and replay options will be found on Amgen's website under Investors. As a leading biotechnology firm, Amgen focuses on significant unmet medical needs and aims to enhance health outcomes through innovative therapies. The company is recognized in major indices, including the Dow Jones Industrial Average.
Amgen and AstraZeneca announced that the FDA has approved TEZSPIRE (tezepelumab-ekko) for self-administration in a pre-filled pen for patients aged 12 and older with severe asthma. TEZSPIRE is the only biologic without phenotype limitations for severe asthma, initially approved in December 2021. The decision was based on results from the PATHFINDER clinical trials, where 92% of participants successfully administered the treatment at home. TEZSPIRE is also approved in the EU and under review in other countries. Common adverse reactions include pharyngitis, arthralgia, and back pain. Amgen and AstraZeneca will collaborate to commercialize TEZSPIRE in North America.
Amgen recently made available the full transcript and audio replay of its 2022 fourth quarter and full year financial results webcast. This webcast showcases key developments in Amgen's business and provides insights into the company's performance. Interested parties can find the transcript and audio on Amgen's website under the Investors section. The audio will be archived for at least 90 days, allowing for convenient access to the information discussed during the event.
Amgen reported its Q4 2022 revenues at $6.8 billion, nearly unchanged from Q4 2021, with a 4% rise in product sales with 10% volume growth. For the full year, revenues reached $26.3 billion, a 1% increase, driven by a 2% rise in product sales. However, GAAP EPS fell 11% in Q4 to $3.00, despite a full-year increase of 18% to $12.11. Amgen anticipates total revenues between $26.0 billion and $27.2 billion in 2023, while excluding contributions from the acquisition of Horizon Therapeutics.
Amgen announced that AMJEVITA (adalimumab-atto), the first biosimilar to Humira, is now available in the U.S. Approved by the FDA in 2016, AMJEVITA offers a list price 55% lower than Humira. This biosimilar aims to enhance patient access and reduce healthcare costs while treating serious inflammatory diseases. With a history of use in over 300,000 patients across more than 60 countries, AMJEVITA is available in multiple forms. The launch aligns with Amgen's commitment to responsible pricing and patient support.
Amgen (NASDAQ:AMGN) will release its fourth quarter and full year 2022 financial results on January 31, 2023, post-market close. A conference call with management, including CEO Robert A. Bradway, will follow at 4:30 p.m. ET. The call and additional financial presentations will be accessible via the Amgen website.
Amgen, a leader in biotechnology, focuses on developing innovative therapeutics for patients with serious illnesses. The company is recognized as one of the top independent biotech firms and is part of the Dow Jones Industrial Average and Nasdaq-100.
Amgen (NASDAQ:AMGN) has awarded the third Amgen Golden Ticket to Nammi Therapeutics, providing the company with one year of lab space at BioLabs LA at The Lundquist Institute. This initiative aims to accelerate life science startups in Southern California and reflects Amgen's commitment to supporting innovative biotechnology. The award was decided after a competitive pitch event judged by Amgen's scientific leaders, further enhancing the collaborative ecosystem within the Los Angeles biotech community.
Amgen will present at the 2023 J.P. Morgan Healthcare Conference on January 9, 2023, at 6:45 p.m. ET. CEO Robert A. Bradway will lead the presentation, which will be available via a live webcast to media, investors, and the public. The event will also be archived for replay for 90 days. Amgen, a biotechnology pioneer since 1980, focuses on innovative therapeutics for serious illnesses, contributing significantly to health outcomes. The company is part of the Dow Jones Industrial Average and Nasdaq-100, recognized for sustainability and employee satisfaction.
Arrowhead Pharmaceuticals (NASDAQ: ARWR) announced a $25 million milestone payment from Amgen (NASDAQ: AMGN) triggered by the enrollment of the first subject in Amgen's Phase 3 trial of olpasiran. Arrowhead is also in line to receive up to $535 million in additional milestone payments from Amgen and Royalty Pharma (NASDAQ: RPRX). The olpasiran therapy targets lipoprotein(a) to reduce cardiovascular disease risk. This milestone represents significant progress for Arrowhead, being the second TRiM-enabled candidate to enter Phase 3 trials, with more projected to follow in the coming year.
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