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. (AMGN) is a global biotechnology leader pioneering innovative therapies for serious illnesses. This dedicated news hub provides investors and healthcare professionals with essential updates on the company's latest developments, regulatory milestones, and strategic initiatives.
Track critical updates across Amgen's core therapeutic areas including oncology treatments, inflammatory disease therapies, and rare disease solutions. Our curated feed includes earnings reports, clinical trial data, partnership announcements, and manufacturing updates - all sourced directly from official channels.
Key resources include timely coverage of FDA decisions, research breakthroughs in biologics and biosimilars, and analysis of market-moving events. Bookmark this page for structured access to Amgen's evolving pipeline and business strategies without promotional bias.
Amgen announced positive results from the HER-MES study, the first head-to-head trial comparing Aimovig® (erenumab-aooe) to topiramate for migraine prevention. The study demonstrated a significantly lower discontinuation rate due to adverse events (10.6% for Aimovig vs. 38.9% for topiramate) and superior efficacy, with 55.4% of Aimovig patients achieving at least a 50% reduction in monthly migraine days. The findings, published in Cephalalgia, strengthen Aimovig's profile as a migraine treatment, highlighting its potential for wider adoption among patients suffering from this debilitating condition.
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.
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