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 (NASDAQ:AMGN) announced positive outcomes from a pooled analysis of NAVIGATOR Phase 3 and PATHWAY Phase 2b trials, showcasing TEZSPIRE™ (tezepelumab-ekko) effectively reduced asthma exacerbation rates across various biomarker subgroups. The analysis revealed reductions of 71% in patients with high eosinophil counts, 48% in those with lower counts, and significant effectiveness across seasons, indicating TEZSPIRE's ability to manage severe asthma irrespective of inflammatory drivers. Approved in the U.S., TEZSPIRE is under review in the EU, Japan, and other markets.
Amgen (NASDAQ: AMGN) announced promising results from the CodeBreaK 100 trial for LUMAKRAS (sotorasib) in patients with KRAS G12C-mutated advanced pancreatic cancer. The trial revealed a 21% objective response rate (ORR) and an 84% disease control rate (DCR) across 38 heavily pre-treated patients. The median progression-free survival was 4 months, and overall survival reached nearly 7 months. No new safety signals emerged, with treatment-related adverse events occurring in 42% of patients. Amgen plans to expand the trial to enroll more patients with various tumor types.
Amgen (NASDAQ:AMGN) outlines its growth strategy through 2030, focusing on expanding its global patient reach with innovative medicines. CEO Robert A. Bradway emphasizes a diverse portfolio in significant therapeutic categories, backed by a robust pipeline and strong balance sheet. CFO Peter Griffith projects mid-single digit revenue CAGR and approximately 50% operating margins. Key growth drivers include the launch of biosimilars and the anticipated success of therapies like Otezla and Repatha. Amgen aims to return an average of 60% of net income to shareholders, alongside significant capital investments.
On February 8, 2022, Amgen (NASDAQ: AMGN) provided long-term financial guidance for 2022-2030 during its virtual business review. The company expects to repurchase between $6 billion and $7 billion in shares, with $6 billion targeted for Q1 2022. GAAP diluted EPS guidance is projected between $13.08 and $14.13, while non-GAAP diluted EPS guidance ranges from $17.00 to $18.00. The business review is accessible via Amgen's investor relations website, with a comprehensive press release to follow, covering strategy and operations.
Amgen reported Q4 2021 total revenues of $6.8 billion, a 3% increase from Q4 2020, primarily due to increased other revenue from its COVID-19 collaboration with Lilly. For the full year, revenues rose 2% to $26.0 billion. GAAP EPS grew 22% to $3.36 in Q4 but dropped 16% to $10.28 for the year, mainly due to a $1.5 billion write-off from its acquisition of Five Prime Therapeutics. Non-GAAP EPS increased 26% in Q4 to $4.36 and 6% for the year to $17.10. Amgen generated $8.4 billion in free cash flow for 2021, a decrease from $9.9 billion in 2020. The company remains optimistic about long-term growth due to strong product volume growth.
Amgen (NASDAQ:AMGN) will host a virtual Business Review Meeting on Feb. 8, 2022, at 8:00 a.m. ET. CEO Robert A. Bradway and management will discuss the company's strategy, operations, pipeline, and growth outlook. The event will be broadcast online and is open to media, investors, and the public. The webcast will be archived for 90 days post-event. Amgen, a leader in biotechnology since 1980, focuses on innovative therapeutics and has been recognized as one of the World's Best Workplaces and a top sustainable company.
Amgen and Plexium announced a worldwide multi-year collaboration focused on targeted protein degradation therapeutics, emphasizing breakthrough treatments for difficult drug targets. Under this agreement, Plexium could earn over $500 million through various success milestones. Amgen retains a commercial license for programs that reach a specific preclinical stage. This partnership aims to address serious diseases by leveraging Amgen's drug development expertise alongside Plexium's advanced screening technology for innovative therapies.
Amgen announced the approval of LUMAKRAS (sotorasib) in Japan for the treatment of patients with KRAS G12C-mutated advanced non-small cell lung cancer (NSCLC) who have progressed after prior therapy. This approval, highlighted by a 37% objective response rate in clinical trials, positions LUMAKRAS as the first and only KRAS G12C inhibitor available in nearly 40 countries. The approval is based on Phase 2 CodeBreaK 100 trial data, demonstrating LUMAKRAS's potential to greatly improve outcomes for this specific cancer mutation, which previously lacked targeted treatments.
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