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. is one of the world's largest independent biotechnology companies, developing biologic therapies that address serious illnesses across oncology, cardiovascular disease, inflammation, and other therapeutic areas. The company's news flow reflects its position as a major pharmaceutical innovator, with developments spanning regulatory approvals, clinical trial results, financial performance, and strategic initiatives.
Following Amgen's news provides insight into the biotechnology sector's evolution and the regulatory pathway for bringing complex biologic therapies to market. The company regularly announces FDA decisions on new therapies and expanded indications for existing products, offering real-time visibility into which treatments are gaining regulatory approval and market access. Clinical trial data releases reveal the company's research progress across its development pipeline, while earnings reports detail financial performance across geographic markets and product portfolios.
Amgen's announcements frequently include updates on cardiovascular therapies targeting cholesterol management, oncology supportive care products, and treatments for inflammatory conditions and bone health disorders. The company also announces manufacturing expansions that signal investment in biomanufacturing capacity and strategic moves including acquisitions, partnerships, and licensing agreements that shape its therapeutic portfolio. Investor presentations and analyst conferences provide management's perspective on business priorities and market dynamics affecting the broader biologics sector.
This news feed aggregates material disclosures, regulatory milestones, and corporate developments specific to Amgen, providing a centralized resource for tracking one of biotechnology's pioneering companies as it navigates an increasingly competitive landscape shaped by biosimilar competition, pricing pressures, and evolving therapeutic approaches.
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.
Amgen and AstraZeneca have announced that TEZSPIRE™ (tezepelumab-ekko) is now available in the U.S. for severe asthma treatment following FDA approval on Dec. 17, 2021. This first-in-class biologic targets TSLP and is designed for a broad population, addressing unmet medical needs. Clinical trials showed significant reductions in asthma attacks without limitations based on eosinophilic or allergic profiles. Common side effects include pharyngitis and arthralgia. The companies aim to provide affordable access through the Tezspire Together Program.
Amgen and Arrakis Therapeutics have formed a collaboration to develop RNA degrader therapeutics targeting difficult-to-drug proteins across various therapeutic areas. Amgen will pay $75 million upfront for five initial programs, with potential payments reaching several billion for milestone achievements. This partnership leverages Amgen's expertise in multispecific molecules and Arrakis' RNA-targeted small molecule platform to create innovative treatments for previously undruggable targets. The collaboration may significantly expand Amgen's drug development capabilities.
Amgen has awarded the second Amgen Golden Ticket to Karma Biotechnologies, granting them a year of lab space at BioLabs LA at the Lundquist Institute. This initiative aims to bolster life science startups in Southern California, with Karma receiving benefits such as access to Amgen's business leaders. Karma's Xavine™ platform focuses on treating autoimmune diseases. The Golden Ticket program, now in its 26th iteration, is part of Amgen's commitment to support biotech innovation across various hubs including San Francisco and Boston.
Amgen has received conditional marketing authorization from the European Commission for LUMYKRAS (sotorasib), a KRASG12C inhibitor to treat advanced non-small cell lung cancer (NSCLC) in adults after prior therapy. This approval, following a positive recommendation from the CHMP, is based on the CodeBreaK 100 clinical trial results, showing a 37.1% objective response rate and an 11.1-month median duration of response. With this authorization, Amgen aims to provide a critical treatment option for European patients affected by this challenging cancer.
Amgen (NASDAQ:AMGN) will virtually present at the 40th Annual J.P. Morgan Healthcare Conference on January 11, 2022, at 11:15 a.m. ET. CEO Robert A. Bradway will lead the presentation. The live audio will be available for media, investors, and the public via Amgen's website, where it will also be archived for at least 90 days. Amgen is renowned for its innovative human therapeutics, focusing on high unmet medical needs since its inception in 1980. It is part of the Dow Jones Industrial Average and Nasdaq-100, recognized as one of the world's best workplaces and sustainable companies.
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