Research archive for AMGN

We are entering a golden age for biotech companies and Vestact-recommended stock Amgen is not being left behind. There are three major innovations in progress now: (1) advancements in AI and deep learning, (2) significant cost reductions for collecting biological data through lab automation, and (3) the precision editing of DNA with CRISPR.

Amgen's results from last week weren't as exciting as Eli Lilly's, but were still decent, with revenue and profit both higher than analyst expectations. Revenue was up 7% for the full-year, driven by record sales for 18 of their brands. We like Amgen because it isn't a one-trick pony.

Amgen is our favoured biotech pharma stock. The company released results this week and it's my job to unpack them for you.

Amgen reported good earnings thanks to strong sales of its treatments for cholesterol, osteoporosis, and other drugs. This biotech pharma company is a Vestact-recommended stock. Revenue for the quarter reached $6.99 billion, up 6%, and earnings per share rose to $5, surpassing analysts' expectations.

The Federal Trade Commission (FTC) is attempting to block Amgen's $27.8 billion purchase of Horizon Therapeutics. In their view the deal would stifle competition and delay the development of new treatments. Horizon has a near-monopoly on medications for eye thyroid disease and refractory gout. Amgen might increase drug prices to get a return on their huge investment.

Amgen reported results which were mostly in line with what the market was expecting. The company increased the volume of drugs sold, but due to a strong Dollar and their changing sales mix, revenue dropped 2%.

Here is a bit more information about Amgen's Humira biosimilar (generic) called Amjevita. Humira is an inflammation drug used to target pain associated with rheumatoid arthritis and a condition called spondylitis.

Amgen is a biopharmaceutical giant that was established in California in 1980, and has been a Vestact-recommended stock since 2015. It has a wide variety of drugs in production and a tremendous team of researchers working on new medicines.

Amgen has been one of our top-performing stocks this year. The drug company has strong cash flow and scored a win with early trials showing positive data for their anti-obesity drug. Amgen are now in advanced talks to buy drug company Horizon Therapeutics in a deal likely to be valued well over $20 billion, marking the largest healthcare merger of the year. The Vestact-recommended company is the last of three suitors standing in an auction for Horizon after Sanofi and J&J capitulated.

Vestact-recommended stock Amgen released its third-quarter earnings last week which beat both on earnings and revenue. This sent shares higher, bringing the total year-to-date returns to above 29%. That's very impressive, given that the overall S&P 500 index is down 20% for 2022.

Here's some good news from Amgen. Their new cancer drug Lumakras achieved superior results to chemotherapy treatment Docetaxel, in a phase 3 study. In the study of 345 people, on average, patients taking Lumakras went 5.6 months without their cancer progressing versus 4.5 months for those taking Docetaxel.

Vestact-recommended pharma company Amgen had second-quarter results out late last week. The numbers were better than expected with revenue of just under $6.6 billion and profits of $4.65 per share. The beat was driven by better sales of Repatha, Prolia, Lumakras, and their biosimilar portfolio.

If you owned pharma giant Amgen during 2020 and 2021 you might have felt disappointed as it drifted sideways while everything else went up. But this year, it's actually up 6% while everything else has tanked. Its solid margins, reliable revenues and healthy dividend yield (well above 3% per annum) has meant that Amgen has stood strong when called upon.

Earlier this week, Amgen released slightly boring full-year numbers. I suppose that's what you want from a drug company? In 2021 there wasn't much revenue growth due to competition pushing down the price of some of their key drugs. They aren't expecting much change for 2022 either, and the management team is guiding for a slight drop in revenue.

Vestact-recommended stock Amgen released its third-quarter earnings earlier in the week, showing that demand for their products is slowly coming back.