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) presented new data for IMDELLTRA™ (tarlatamab-dlle), a first-in-class DLL3-targeting BiTE® molecule, at the 2024 World Conference on Lung Cancer. The DeLLphi-303 study showed promising results for IMDELLTRA in combination with PD-L1 inhibitors as first-line maintenance therapy in ES-SCLC. Key findings include:
- Disease control rate of 62.5% for both IMDELLTRA plus durvalumab and atezolizumab
- 9-month overall survival of 91.8% with durvalumab and 86.7% with atezolizumab
- Manageable safety profile with no new safety concerns
Extended follow-up data from the DeLLphi-301 Phase 2 study demonstrated sustained anticancer activity in previously treated ES-SCLC patients, with a 40% objective response rate and median overall survival of 15.2 months.
Amgen (NASDAQ:AMGN) has announced its participation in the 2024 Wells Fargo Healthcare Conference on Thursday, Sept. 5, 2024 at 9:30 a.m. ET. Peter Griffith, executive vice president and CFO, and Jay Bradner, executive vice president of Research and Development and CSO, will represent Amgen at the event.
The presentation will be webcast live and made available to the public, media, and investors. The webcast can be accessed on Amgen's website (www.amgen.com) under the Investors section. Amgen's Investor Relations Events Calendar provides details on presentation times and webcast links. The webcast will be archived for at least 90 days after the event for later viewing.
Amgen (NASDAQ:AMGN) is set to participate in the Morgan Stanley 22nd Annual Global Healthcare Conference on Wednesday, Sept. 4, 2024, at 9:15 a.m. ET. Robert A. Bradway, Amgen's chairman and CEO, will be presenting at the event.
The presentation will be webcast live and made available to the public, media, and investors. Interested parties can access the webcast through Amgen's website (www.amgen.com) under the Investors section. The company's Investor Relations Events Calendar provides details on presentation times and webcast links.
This webcast, along with other selected presentations on Amgen's business developments, will be archived and available for replay for at least 90 days after the event.
Amgen (NASDAQ:AMGN) announced that Otezla® (apremilast) is now available in the U.S. for pediatric use, following FDA approval for treating moderate to severe plaque psoriasis in children and adolescents ages 6 and older weighing at least 20 kg. This marks the first and only FDA-approved oral medication for this condition in this patient population.
The approval was based on the SPROUT Phase 3 study, which demonstrated significant efficacy with a 33.1% sPGA response for Otezla versus 10.8% for placebo. The safety profile was consistent with that observed in adult patients. Dosage is weight-based, with 20 mg or 30 mg administered twice daily after initial titration.
This expansion of Otezla's use represents a new treatment option for younger patients with plaque psoriasis, potentially offering relief to many who previously had choices.
Amgen (NASDAQ: AMGN) reported its Q2 2024 financial results showing a 20% revenue increase to $8.4 billion compared to Q2 2023. Product sales grew by 20% with a 26% volume boost, albeit offset by a 3% decline in net selling price. Excluding Horizon Therapeutics' sales, product sales were up by 5%.
GAAP EPS fell 46% to $1.38, affected by higher operating costs, while non-GAAP EPS decreased 1% to $4.97. Free cash flow dropped to $2.2 billion from $3.8 billion due to timing of tax payments. The company remains on track to reduce its debt by more than $10 billion by the end of 2025.
Strong performers included Prolia® (13% sales increase), Repatha® (25%), and TEZSPIRE® (76%). However, some products like Enbrel® and Otezla® saw declines in sales. Amgen's guidance for 2024 predicts revenue between $32.8 billion and $33.8 billion, with GAAP EPS between $6.57 and $7.62, and non-GAAP EPS between $19.10 and $20.10.
Amgen (NASDAQ:AMGN) has announced its third quarter dividend for 2024. The company's Board of Directors has declared a dividend of $2.25 per share, which will be paid on September 6, 2024. This dividend is available to all stockholders of record as of the close of business on August 16, 2024. This announcement demonstrates Amgen's commitment to providing regular returns to its shareholders, which may be viewed positively by investors looking for stable income-generating stocks in the biotechnology sector.
Amgen (NASDAQ:AMGN) has announced that it will report its second quarter 2024 financial results on Tuesday, August 6, 2024, after the close of U.S. financial markets. The announcement will be followed by a conference call with the investment community at 4:30 p.m. ET. Robert A. Bradway, chairman and CEO, along with other senior management team members, will participate in the call.
The conference call will be broadcast live over the internet and will be accessible to news media, investors, and the general public. The webcast can be found on Amgen's website under the Investors section. The webcast will be archived and available for replay for at least 90 days after the event.
Amgen (NASDAQ: AMGN) announced FDA approval for BLINCYTO® (blinatumomab) for treating CD19-positive Philadelphia chromosome-negative B-cell precursor acute lymphoblastic leukemia (B-ALL) in the consolidation phase, regardless of measurable residual disease (MRD) status. This marks BLINCYTO's third indication.
Data from the Phase 3 E1910 trial showed BLINCYTO, added to chemotherapy, reduces the risk of death by 58% and improves overall survival (OS). The 3-year OS was 84.8% with BLINCYTO plus chemotherapy compared to 69% with chemotherapy alone. The study had a median follow-up of 4.5 years.
This approval provides a new standard of care for B-ALL patients, offering a more effective treatment option than chemotherapy alone.
Amgen (NASDAQ:AMGN) presented several significant findings at the European Alliance of Associations for Rheumatology's (EULAR) 2024 Congress. The event, held from June 12-15 in Vienna, showcased 27 abstracts from Amgen-sponsored and partner-led studies. Key highlights include improvements in biomarkers for Sjögren's disease with dazodalibep, positive outcomes for uncontrolled gout with KRYSTEXXA® (pegloticase) combined with methotrexate, and long-term data from the FOREMOST study of Otezla® (apremilast) in early oligoarticular psoriatic arthritis. Additional studies covered topics like psoriatic arthritis, osteoporosis, and ANCA-associated vasculitis. This data underscores Amgen's commitment to advancing treatment options for inflammatory and rheumatic diseases.
Amgen (NASDAQ: AMGN) will be presenting at the Goldman Sachs 45th Annual Global Healthcare Conference. The presentation is scheduled for June 10, 2024, at 9:20 a.m. ET. Key speakers include Peter Griffith, executive vice president and CFO, and Jay Bradner, executive vice president of R&D and chief scientific officer. The presentation will be webcast live and archived for replay on Amgen's website for at least 90 days. This offers insights into Amgen's ongoing business developments and is accessible to media, investors, and the general public.
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