Amgen Inc

The Trump administration has selected 10 companies, including AbbVie, Amgen, Pfizer, and GSK, for a new pilot program that tests a rebate model for drugs purchased under a federal program benefiting uninsured and low-income patients. The 340B Rebate Model Pilot takes effect on January 1 and allows the selected manufacturers to verify and pay rebates for 21 discounted drugs purchased under the government's 340B drug pricing program, rather than offering savings upfront as under the current discount model. The participating drugmakers are AbbVie, Amgen, Astellas, AstraZeneca, Bristol Myers, GSK, Merck, Pfizer, and Teva. The Health Resources and Services Administration, the HHS unit overseeing the program, said the approach helps address compliance concerns proactively rather than relying primarily on retrospective reviews, audits, and dispute resolution processes. The pilot marks the Trump administration's second attempt to overhaul the decades-old drug discount program, after a federal judge blocked HRSA's first 340B rebate pilot following a case brought by hospital groups last year.

Amgen's experimental drug dazodalibep met the main goal of a late-stage trial in Sjögren's disease, showing statistically significant and clinically meaningful improvements in patients with moderate-to-severe disease activity after 48 weeks. Most adverse events were mild to moderate and only a small number of patients stopped treatment, according to Reuters, which noted that Sjögren's affects about 1% of the global population and currently has no approved treatment in the U.S. The result gives Amgen a potential new growth opportunity in autoimmune disease, though it remains several steps from commercial impact; Amgen generated $36.8 billion in revenue in 2025 and invested $7.3 billion in R&D, and already sells Otezla, which generated $2.27 billion in sales in 2025. Amgen shares rose 4% after the trial announcement. Key details were not disclosed and the full data still need to be compared with Novartis' ianalumab, while Amgen is testing dazodalibep in the separate OASIZ 303 trial with results expected in the fourth quarter of 2026; William Blair analyst Matt Phipps said two positive late-stage studies would likely be required for FDA approval. Competition could also limit the opportunity, with Novartis and Johnson & Johnson developing Sjögren's treatments, and Amgen expects Prolia sales to decline more rapidly in 2026 after U.S. patent expirations and biosimilar launches; Prolia generated $4.41 billion in 2025.

Amgen has sold its office campus in Deerfield, Illinois, for $151 million to an entity tied to Mesirow, a Chicago-based financial services firm, and signed a long-term lease to remain on the roughly 660,000-square-foot campus where it occupies one of three buildings. The sale-leaseback converts an illiquid asset into cash without issuing shares or taking on new debt, though the lease remains a balance-sheet obligation and the rent is priced off prevailing interest rates. The transaction is small against Amgen's roughly $57 billion of debt, much of it taken on to buy Horizon Therapeutics, a load the company has said it wants to reduce. Amgen shares rose 2.11% to close at $414.61. The key question is whether this is a one-off or the start of a broader program of asset sales.

Amgen's updated analyst model lifted its fair value price target to US$388.03 from a prior US$371.93, with the revenue growth assumption rising to 3.50% from 2.93%, the net profit margin assumption moving to 25.15% from 24.84%, the future P/E multiple changing to 25.1x from 24.6x, and the discount rate shifting to 7.96% from 7.70%. The revision reflects a split analyst view, with UBS, Argus, TD Cowen, Scotiabank and Oppenheimer raising their Amgen price targets into a US$420 to US$460 range on the strength of a strong product portfolio, Q2 beats and higher guidance. Wells Fargo and Piper Sandler lifted their targets to US$435, citing external survey work and prescription data they believe support higher long term sales potential for cholesterol and cardiovascular products such as Repatha and Lipfendra. On the bearish side, HSBC downgraded Amgen to Hold and cut its target to US$425 from US$445, saying the stock price now more closely matches its assessment of fair value with limited near term upside, while BMO Capital shifted to a neutral Market Perform stance even with a higher US$450 target, citing ongoing loss of exclusivity headwinds and a need for more clarity on the competitive profile and sales potential of MariTide.

Amgen is rated Zacks Rank #2 (Buy), with the consensus earnings estimate for the current fiscal year at $22.94 per share, up 0.7% over the last 30 days and reflecting a year-over-year change of +5%. For the next fiscal year, the consensus estimate of $24.42 indicates a change of +6.5% from what Amgen is expected to report a year ago, and that estimate has moved +3.4% over the past month. For the current quarter, Amgen is expected to post earnings of $5.69 per share, a year-over-year change of +0.9%, though the Zacks Consensus Estimate has changed -0.3% over the last 30 days. The consensus sales estimate of $9.91 billion for the current quarter points to a year-over-year change of +3.7%, while the $38.81 billion and $39.95 billion estimates for the current and next fiscal years indicate changes of +5.6% and +2.9%, respectively. In the last reported quarter, Amgen reported revenues of $10.05 billion, a year-over-year change of +9.5%, and EPS of $6.29 versus $6.02 a year ago, beating the Zacks Consensus Estimate of $9.44 billion by +6.52% on revenue and by +12.32% on EPS, and the company beat consensus EPS and revenue estimates in each of the trailing four quarters.

Amgen announced that the U.S. Food and Drug Administration approved an update to the IMDELLTRA (tarlatamab-dlle) Prescribing Information that substantially reduces the recommended monitoring time for the first two doses of treatment in an appropriate healthcare setting. Under the update, patients receiving IMDELLTRA should now be monitored for 6 to 8 hours from the start of their first two infusions, compared with the previously recommended 22 to 24 hours, and will receive a follow-up assessment including vital signs the day after each of these first two doses. The scope of the label update was limited to the first two doses; monitoring and supportive care recommendations for later doses remain unchanged, including 6-8 hours following the third dose and throughout Cycle 2, decreasing to 3-4 hours for Cycles 3-4 and 2 hours for Cycle 5 and subsequent doses. Amgen said the change could mean substantially less time spent in a healthcare setting for people living with extensive-stage small cell lung cancer and may reduce treatment complexity for community oncology practices, where an estimated 80% to 85% of U.S. cancer patients receive care. Jay Bradner, M.D., Amgen's executive vice president of Research and Development, Artificial Intelligence and Data, said the approval is an important step in simplifying care for people living with and treating ES-SCLC, and David M. Waterhouse, MD, MPH, FASCO, a medical oncologist at Oncology Hematology Care in Cincinnati, said reducing the required monitoring period may make IMDELLTRA more feasible to administer in community practices. Amgen also noted it recently announced landmark positive topline overall survival data from the Phase 3 DeLLphi-305 study in first-line ES-SCLC, and that reduced post-infusion monitoring timing is being evaluated in several ongoing studies across indications and lines of therapy.

Amgen and AstraZeneca announced positive results from a phase III study of Imdelltra, or tarlatamab, in combination with AstraZeneca's Imfinzi, or durvalumab, in certain patients with extensive-stage small-cell lung cancer. The trial, called DeLLphi-305, tested the combination against Imfinzi alone as a first-line maintenance treatment for patients whose cancer had not progressed after induction with Imfinzi plus platinum chemotherapy and etoposide. The study met its primary endpoint of overall survival and a key secondary endpoint of progression-free survival, though neither company provided numerical data and both said no new safety concerns were identified. DeLLphi-305 is sponsored by Amgen, with partial funding and Imfinzi supplied by AstraZeneca. AstraZeneca estimates that roughly 195,000 people globally will be treated for extensive-stage small-cell lung cancer in 2026, and the companies say small-cell lung cancer accounts for about 15% of lung cancers, with about two-thirds of those patients diagnosed with the extensive-stage form. If approved, the Imfinzi-Imdelltra combination would enter a first-line maintenance market where the FDA in October 2025 approved Jazz Pharmaceuticals' Zepzelca, or lurbinectedin, with Roche's Tecentriq, or atezolizumab, based on the IMforte study, which showed a 46% reduction in the risk of disease progression or death and a 27% reduction in the risk of death versus Tecentriq alone. Imdelltra, a bispecific T-cell engager approved in 2024 for second-line extensive-stage small-cell lung cancer, posted global sales of $546 million in the first half of 2026, up from $215 million a year earlier, while Imfinzi's first-half 2026 revenues rose 31% year over year to $3.55 billion.

Amgen's Imdelltra sales surged 115% to $288 million in the second quarter, as the drug combined with AstraZeneca's Imfinzi met every major goal in a late-stage lung-cancer trial. The 563-patient DeLLphi-305 study showed the combination extended overall survival and progression-free survival with better response rates than Imfinzi alone as maintenance therapy for extensive-stage small-cell lung cancer. Amgen reported no new safety signal, but the crucial efficacy numbers remain undisclosed until a future medical meeting. The quarterly sales represent roughly 2.9% of Amgen's $10.1 billion total revenue, pointing to an annualized pace above $1.15 billion, more than double the drug's 2025 revenue. Shares traded at $391.65, 7.05% above the GF Value estimate of $365.84, with the muted reaction suggesting investors await survival data to gauge the drug's full commercial potential.

Amgen's shares have risen 8.6% since its second-quarter earnings report, outperforming the S&P 500, after the company beat estimates and raised its full-year guidance. In the quarter, Amgen reported adjusted earnings of $6.29 per share, up 4% year over year and above the Zacks Consensus Estimate of $5.60, while total revenues increased 10% to $10.1 billion, surpassing the consensus of $9.44 billion. The company raised its 2026 revenue guidance to $38.2-$39.4 billion from $37.1-$38.5 billion and adjusted earnings guidance to $22.30-$23.50 per share from $21.70-$23.10. Growth was driven by key products like Repatha, Evenity, Tezspire, and Uplizna, which helped offset biosimilar erosion for Prolia and Xgeva. Amgen also announced it will discontinue development of AMG 513, though its phase I obesity study will continue. Following the report, analysts have broadly revised estimates downward, and the stock carries a Zacks Rank #3 (Hold).

Amgen announced that a pre-specified analysis of its Phase 3 VESALIUS-CV trial showed Repatha (evolocumab) reduced the risk of death by 20% in high-risk adults without a prior heart attack or stroke when added to statins or other LDL-C-lowering treatments. The analysis demonstrated meaningful reductions in both overall and cardiovascular deaths, with the mortality benefit emerging after about 1.5 years of treatment and continuing through a median follow-up of 4.6 years. Repatha also reduced heart attack risk within six months of treatment initiation in a separate analysis. The findings were presented at the European Society of Cardiology Congress 2026 in Munich and published simultaneously in Circulation. Repatha, a human monoclonal antibody targeting PCSK9, was first approved in 2015 and has been used by approximately 9 million patients globally; in August 2025, the U.S. Food and Drug Administration broadened its approved use to include adults at increased risk for major adverse cardiovascular events due to uncontrolled LDL-C.

AstraZeneca's stock remained 14% below its pre-Wainua failure level despite positive Phase 3 data for Tezspire, trading at $164.75 on Thursday. The CROSSING study showed both Tezspire doses significantly reduced tissue inflammation and eased swallowing problems in patients with eosinophilic esophagitis, with effects lasting through week 52 and a safety profile consistent with approved uses. Tezspire generated $1.13 billion of AstraZeneca's 2025 sales and $1.48 billion for partner Amgen, yet it represents only about 1.4% of AstraZeneca's $80 billion revenue target for 2030. The shares sit 9.25% below their $181.55 GF Value estimate, but investors seek broader pipeline proof rather than a single clinical win.

AstraZeneca and Amgen announced positive high-level results from the Phase III CROSSING trial, showing that TEZSPIRE (tezepelumab-ekko) achieved statistically significant and clinically meaningful improvements across both co-primary and all key secondary endpoints in patients with eosinophilic esophagitis (EoE) at week 24, with effects sustained through week 52 in both doses tested. The co-primary endpoints were histologic remission and the frequency and severity of dysphagia compared to placebo, and the safety profile was consistent with approved indications. EoE is a chronic inflammatory disorder affecting over 470,000 people in the US, and nearly half of patients do not achieve adequate control with current first-line treatments. The results mark the third epithelial-driven inflammatory disease where TEZSPIRE has shown efficacy, and full results will be shared with regulatory authorities and at an upcoming medical meeting.

Amgen's AMGN stock hit a fresh 52-week high of $440.51 on Aug. 21, 2026, before closing the session at $439.33. The stock has gained 16.8% over the past month, mainly driven by strong second-quarter results and increased guidance. Amgen beat estimates for both earnings and revenues in the second quarter and raised its financial outlook for 2026 for the second time this year. The company's key growth drivers, which represent almost 70% of total product sales, rose 24% year over year in the first quarter and 26% in the second quarter. However, Amgen faces significant biosimilar pressure on its denosumab franchise, with Prolia sales declining 32% and Xgeva declining 34% in the second quarter. The Zacks Consensus Estimate for earnings has risen from $22.29 to $22.92 per share for 2026 over the past 30 days.

Amgen shares surged roughly 3.5% to $440.08 Wednesday morning as healthcare stocks ripped to a record high, powered by fresh excitement around Merck and Moderna's melanoma breakthrough and a market rotation away from battered semiconductor names. The biotech heavyweight behind Repatha, Enbrel and MariTide reported second-quarter revenue up 10% to $10.1 billion, product sales up 9%, and GAAP earnings up 65% to $4.37 per share. Twenty-two medicines delivered double-digit sales growth, seventeen products are running above $1 billion in annualized sales, and six key growth products surged 26% to generate nearly 70% of product revenue. The stock now trades at a roughly 19% premium to its $365.04 GF Value, putting pressure on execution amid Prolia declines and Tavneos uncertainty, but investors are looking past those cracks to accelerating earnings, multiple blockbuster franchises, defensive healthcare demand, and MariTide's potential in obesity.

Amgen reported second quarter results that beat Wall Street expectations and raised its full-year guidance. Revenue came in at $10.05 billion versus analyst estimates of $9.40 billion, a 9.5% year-over-year increase, while adjusted EPS of $6.29 beat estimates of $5.62. The company lifted its full-year revenue guidance to $38.8 billion at the midpoint from $37.8 billion, and raised adjusted EPS guidance to $22.90 at the midpoint. Management highlighted double-digit growth in key products like Repatha, EVENITY, and TEZSPIRE, with 22 products achieving double-digit sales growth and 17 products annualizing over $1 billion in sales. During the earnings call, analysts questioned executives on topics including Olpasiran's trial design, business development strategy, MariTide's tolerability, competitive pressure on Otezla, and monitoring requirements for IMDELLTRA.

Amgen announced plans to open a new Science and Innovation Center at Genome Valley in Hyderabad, expanding its global research and development network. The center, expected to be operational in 2027, will integrate advanced scientific capabilities with data and digital innovation to accelerate drug discovery and development. It will house scientists and technologists across discovery chemistry, drug metabolism and pharmacokinetics, and precision medicine, complementing Amgen's existing technology and innovation site in Hyderabad. The facility joins Amgen's network of seven research laboratories and aims to enhance speed, precision, and efficiency in developing innovative medicines for patients worldwide.

Several companies saw their shares rise after reporting second-quarter 2026 earnings that exceeded analyst expectations. Amgen shares climbed 4.6% after posting adjusted earnings of $6.29 per share, surpassing the Zacks Consensus Estimate of $5.60 per share. Arista Networks gained 3.6% after reporting adjusted earnings of $1.02 per share, beating the estimate of $0.89 per share. Wynn Resorts advanced 3.6% after adjusted earnings of $1.24 per share topped the estimate of $1.01 per share. Booking Holdings jumped 6.6% after adjusted earnings of $2.54 per share exceeded the estimate of $2.45 per share.

The Dow Jones Industrial Average closed at a record high, rising 263.24 points to 54,349.12, buoyed by strong corporate earnings and a rally in Nvidia shares, as well as signs of progress in peace talks between the United States and Iran. Meanwhile, the Nasdaq fell for the first time in five trading days after SpaceX and AMD shares dropped following their quarterly earnings reports. Nvidia shares surged more than 3% after Elon Musk said SpaceX would exclusively use Nvidia processors to build its AI infrastructure. SpaceX shares fell over 13% after its second-quarter capital expenditure soared sixfold to 18.4 billion dollars. Amgen rose 4.6% and Eli Lilly jumped 4.9%, lifting the S&P 500 healthcare sector to a 1.3% gain. Advanced Micro Devices fell 7% and Alphabet dropped 4% after reporting earnings and restructuring its AI unit. Oil prices were steady amid hopes for a US-Iran deal, with reports that a proposal between Iran and Oman would give Iran control over ships entering the Persian Gulf through the Strait of Hormuz, a passage for one-fifth of the world's oil. European stocks closed at a fresh record high, with the STOXX 600 ending at 657.14, up 0.04%, led by mining stocks which rose 2.3% on the back of gold prices.

Amgen posted stronger-than-expected second-quarter results and raised its full-year 2026 guidance. Revenue climbed 9% year over year to about $10.05 billion, while adjusted earnings reached $6.29 per share, comfortably ahead of the $5.62 Wall Street consensus. The company lifted its 2026 revenue forecast to $38.2 billion to $39.4 billion from $37.0 billion to $38.4 billion previously and increased adjusted earnings guidance to $22.30 to $23.50 per share. Sales of Repatha surged 37% to $953 million, Evenity jumped 38% to $714 million, and rare-disease therapy Uplizna nearly doubled revenue with roughly 90% growth, helping offset a 32% drop in Prolia sales due to biosimilar competition. Amgen also discontinued obesity candidate AMG 513 but is advancing MariTide, with pivotal Phase 3 data expected in 2027.

Booking Holdings is up more than +7% after reporting better-than-expected Q2 gross bookings. The company posted Q2 gross bookings of $51.00 billion, above the consensus of $49.68 billion. The broader market saw mixed trading, with the S&P 500 and Dow Jones Industrials hitting new all-time highs, while the Nasdaq 100 edged lower. Other notable movers included Amgen, up more than +5% on stronger-than-expected Q2 EPS, and Advanced Micro Devices, down more than -7% after its third-quarter sales forecast disappointed investors.

Amgen shares rose about 4% on Wednesday after the biotechnology company reported second-quarter 2026 results that topped Wall Street expectations. Adjusted earnings per share came in at $6.29, ahead of analyst estimates of roughly $5.60 to $5.62, while revenue reached $10.05 billion, exceeding consensus expectations of about $9.40 billion. Total revenue increased 10% year over year to $10.1 billion, with product sales up 9% on higher volumes, and 22 products delivered double-digit sales growth during the quarter. CEO Robert Bradway highlighted that the company's six key growth drivers grew 26% year over year and generated nearly 70% of second-quarter product sales. GAAP earnings per share rose to $4.37 from $2.65 a year earlier, and free cash flow was $3.5 billion compared with $1.9 billion in the same period last year.

The S&P 500 and Dow Jones Industrial Average posted new all-time highs, while the Nasdaq 100 reached a one-month high, driven by strong earnings from companies including Booking Holdings and Amgen. Booking Holdings rose more than 7% after reporting better-than-expected second-quarter gross bookings, and Amgen gained over 5% on stronger-than-expected adjusted earnings per share. However, SpaceX fell more than 10% to lead losers in the Nasdaq 100 after disclosing higher-than-expected spending on its artificial intelligence business, despite reporting better-than-expected second-quarter earnings. Advanced Micro Devices also declined more than 4% after its third-quarter sales forecast disappointed investors. Market sentiment was further pressured by a rebound in crude oil prices following threats from Yemen's Houthi militants to escalate attacks on Saudi vessels in the northern Red Sea.

Amgen reported second-quarter 2026 adjusted earnings of $6.29 per share, beating the Zacks Consensus Estimate of $5.60, and raised its full-year guidance. Total revenues increased 10% to $10.1 billion, surpassing the consensus estimate of $9.44 billion, driven by a 9% rise in product sales to $9.54 billion. Key growth drivers, including Repatha, Evenity, Tezspire, and oncology and rare disease drugs, grew 26% year over year and represented almost 70% of total product sales. The company lifted its 2026 revenue outlook to a range of $38.2 billion to $39.4 billion and adjusted earnings guidance to $22.30 to $23.50 per share, citing strong first-half execution. However, sales of legacy drugs Prolia and Xgeva declined sharply due to biosimilar competition following patent expirations in 2025.

Amgen's second-quarter sales for Enbrel and Otezla rebounded from the previous quarter, even as both products continued to face year-over-year declines. The company reported overall Q2 results that beat expectations, prompting it to raise its full-year 2026 revenue guidance to a range of $38.2 billion to $39.4 billion and non-GAAP earnings per share guidance to $22.30 to $23.50. The improved outlook comes as Amgen prepares for a chief financial officer transition.

Kaléo has entered into a confidential license agreement with Amgen, granting Amgen rights to certain of Kaléo's patented auto-injector technology. Financial and other terms were not disclosed. The agreement highlights Kaléo's role in drug-device innovation and its leadership in patient-centric auto-injector solutions.