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 initiated construction of a new biomanufacturing plant in New Albany, Ohio, with an investment of $365 million, set to become operational by 2024. This facility will create approximately 400 jobs and aims to meet increasing demand for Amgen's medicines in the U.S. The plant is designed to be the company's most efficient and sustainable, with plans for LEED certification. Additionally, Amgen has received accolades for workplace diversity and aims to hire a million Black Americans in the next decade. This expansion marks a significant move for Amgen in maintaining its leadership in biologics.
Amgen (AMGN) reported Q3 2021 revenues of $6.7 billion, marking a 4% year-on-year increase, driven by strong unit demand. GAAP EPS fell 3% to $3.31 due to a $400 million licensing expense, while non-GAAP EPS rose 11% to $4.67. The company generated $2.2 billion in free cash flow but this was a decline from $3.2 billion in Q3 2020. Amgen maintained its full-year revenue guidance between $25.8 billion and $26.2 billion, with GAAP EPS projected at $9.55-$10.21. New product LUMAKRAS showed promising sales, and a robust pipeline is expected to drive long-term growth.
Amgen will release its third quarter financial results on November 2, 2021, after market close. The announcement will be followed by a conference call at 2:00 p.m. PT, featuring CEO Robert A. Bradway and senior management. The call can be accessed via live audio on Amgen's website. This session aims to engage with the investment community, providing insights into the company's performance and future direction.
Amgen (NASDAQ:AMGN) has declared a $1.76 per share dividend for Q4 2021, with payment scheduled for December 8, 2021. The record date for stockholders is November 16, 2021. This dividend reflects Amgen's commitment to returning value to its shareholders while addressing the significant unmet medical needs through its innovative therapies. As a leading biotechnology company since 1980, Amgen aims to improve health outcomes by leveraging advanced human genetics to develop effective therapeutics.
Amgen has finalized its acquisition of Teneobio for a total of $900 million in cash, with potential future payments reaching up to $1.6 billion. This strategic move enhances Amgen's capabilities in developing bispecific and multispecific biologics, particularly for treating diseases like metastatic castrate-resistant prostate cancer. The acquisition includes Teneobio's proprietary technologies and investigational therapies, such as TNB-585, expected to accelerate Amgen’s oncology pipeline. Amgen aims to leverage these assets to address critical unmet medical needs in its therapeutic areas.
Blade Therapeutics mourns the unexpected passing of its General Counsel and Secretary, Alan C. Mendelson, on October 8, 2021. He was an influential figure in the life sciences sector with over 47 years of experience, significantly contributing to the establishment of Amgen Inc. (NASDAQ: AMGN) in 1980. Blade's CEO, Wendye Robbins, expressed deep condolences, highlighting Mendelson's impact on the industry. His accolades included recognition as one of the most influential lawyers in the United States and the Life Sciences Leadership Award.
Amgen announced results from the Phase 1b CodeBreaK 101 study, investigating the efficacy of LUMAKRAS™ (sotorasib) in combination with afatinib and trametinib for treating KRAS G12C-mutated cancers. The study showed an objective response rate (ORR) of 20% and 35% for LUMAKRAS plus afatinib in heavily pre-treated non-small cell lung cancer patients. For the combination with trametinib, disease control rates were 87% for KRAS G12C inhibitor-naïve NSCLC patients. Safety profiles for both combinations were consistent, with common adverse events including diarrhea and nausea. Amgen continues expanding its LUMAKRAS development program.
On Oct. 7, 2021, Amgen (NASDAQ: AMGN) announced a strategic collaboration with Neumora Therapeutics, focusing on neuroscience innovation. Amgen has invested $100 million in Neumora, which will develop programs targeting casein kinase 1 delta and glucocerebrosidase for neurodegenerative diseases. The partnership will leverage Amgen's deCODE genetics platform and Neumora's precision medicine expertise to enhance drug discovery for conditions like schizophrenia and ALS. This collaboration highlights Amgen's commitment to advancing brain disease treatments despite not conducting internal neuroscience R&D.
On Oct. 4, 2021, Amgen (NASDAQ:AMGN) presented real-world data on hip fracture incidence and treatment trends at the ASBMR Annual Meeting. The study highlighted that hip fractures remain a significant public health issue across various regions, including Asia, Europe, and the Americas. While some countries have seen stabilized or reduced rates, overall treatment rates post-fracture are low, ranging from 11.5% to 50.3%. This suggests a crucial need for improved prevention and treatment strategies, as aging populations contribute to the increasing burden of osteoporosis.
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