Amgen Inc - AMGN STOCK NEWS

Amgen announced FDA approval for RIABNI™ (rituximab-arrx), a biosimilar to Rituxan®, for treating adults with moderate to severe rheumatoid arthritis (RA) who have not responded to TNF antagonist therapies. RIABNI is already approved for several conditions, including Non-Hodgkin's Lymphoma and Chronic Lymphocytic Leukemia. The clinical study showed RIABNI's efficacy and safety are equivalent to Rituxan. This move enhances Amgen's portfolio of biosimilars, reinforcing its commitment to affordable treatment options.

Amgen and Takeda have presented data from the Phase 3 PARADIGM trial at ASCO 2022, demonstrating the efficacy of Vectibix (panitumumab) over bevacizumab in treating unresectable wild-type RAS metastatic colorectal cancer. The trial involved 823 chemotherapy-naive patients and revealed significant improvements in overall survival (OS) with Vectibix, showcasing median OS rates of 37.9 vs. 34.3 months for left-sided tumors. Vectibix's safety profile aligns with previous studies. These results reinforce Vectibix's role as a standard first-line therapy in this patient population.

Amgen will present at the 2022 Jefferies Healthcare Conference on June 8, 2022, at 9:30 a.m. ET. Murdo Gordon, Amgen's executive vice president of Global Commercial Operations, will lead the presentation, which will be webcast for the media, investors, and the public. The event highlights Amgen's commitment to innovation in biotechnology and advanced human genetics. The webcast will be available for replay for 90 days post-event on Amgen's official website.

Amgen announced positive topline results from its Phase 2 OCEAN(a)-DOSE study, revealing that olpasiran, an investigational treatment, successfully reduced Lipoprotein(a) levels by over 90% in many patients at weeks 36 and 48. The trial involved 281 adult patients with elevated Lp(a) levels and atherosclerotic cardiovascular disease. No new safety issues were reported, and the results are expected to be presented at a future medical congress. These findings could provide new options for patients with limited treatment alternatives for elevated Lp(a).

Amgen will present findings from its oncology portfolio at the ASCO Annual Meeting from June 3-7, 2022. Key updates include the results of the PARADIGM Phase 3 trial comparing Vectibix® with Avastin® for RAS wild-type metastatic colorectal cancer. Additionally, new data on LUMAKRAS® (sotorasib) from the CodeBreaK 100 study highlights resistance mechanisms in KRAS G12C-mutated cancers. This reflects Amgen's commitment to enhancing treatments for challenging cancers. The presentations will cover a range of investigational therapies aimed at improving patient outcomes.

Amgen has launched the 'Double Take' campaign in collaboration with pop icon Lance Bass to raise awareness about psoriatic arthritis. The campaign aims to educate individuals on recognizing early symptoms of the condition, which affects about one million Americans and often goes unnoticed. Bass shares his personal journey of diagnosis and emphasizes the importance of early intervention. The Otezla (apremilast), used for treatment, is highlighted along with its potential side effects, including diarrhea and nausea.

Amgen (NASDAQ:AMGN) will present at the 2022 Bank of America Healthcare Conference on May 11, 2022, at 12:20 p.m. ET. Key executives, including David M. Reese and Peter H. Griffith, will discuss company developments. The presentation will be available via webcast, accessible to investors and the public, and archived for 90 days. Amgen, a leading biotechnology firm, focuses on innovative treatments for serious illnesses and is recognized for its contributions in healthcare, sustainability, and corporate culture.

Amgen (NASDAQ:AMGN) has released its 2021 Environmental, Social & Governance (ESG) report, outlining its commitment to public health and sustainability. The report highlights four key areas: Healthy People, providing $2.2 billion in free medicines; Healthy Society, impacting 27 million through no-cost science education; Healthy Planet, pursuing carbon neutrality by 2027; and A Healthy Amgen, integrating ESG goals into business practices. Recognized by various organizations, Amgen continues to emphasize its role in improving health outcomes and addressing societal challenges.

Amgen reported Q1 2022 total revenues of $6.2 billion, a 6% increase from Q1 2021, driven by 2% growth in product sales and enhanced COVID-19 collaboration revenue. GAAP EPS decreased by 5% to $2.68, while non-GAAP EPS increased by 15% to $4.25. Operating income grew 17% to $2.5 billion, improving the operating margin to 43.6%. Amgen reaffirmed total revenue guidance for 2022 at $25.4-$26.5 billion while adjusting GAAP EPS guidance to $12.53-$13.58. Challenges include IRS tax disputes potentially increasing liabilities by $7.1 billion.