Research archive for AMGN

Last week Amgen released solid results. Sales increased 12% year on year to $6.1bn. Some of the their up and coming blockbuster drugs had a good quarter. Repatha which treats cholesterol increased sales by 62%. That is one of their potential rockstars.

What about buying pharmaceutical stocks at a time like this? In the middle of a global pandemic of such major proportions, big money is being thrown at Covid-19 diagnostics, treatment, vaccines and immunity enhancers.

On Thursday night Amgen released results that beat both revenue and profit forecasts. What didn't impress the market was their lower than expected guidance around future profits. The stock close down 4.5% on Friday, around half of that drop, can be attributed to the general market sell-off though.

Our biotech pharma investment Amgen has made some interesting moves in the last week. As long-time holders of this stock know, it owns a wide portfolio of patented drugs for treating inflammation and arthritis, cardiovascular disease, cancer, migraines, bone injuries and skin disorders.

The world's largest biotech company, Amgen released its third-quarter earnings that beat the streets expectations. The company saw strong volume growth for the seventh consecutive quarter which can be attributable to new drug launches like migraines drug Aimovig and the launch of biosimilars including Kanjinti for breast cancer.

There was good news yesterday from our recommended portfolio holding, biotech pharma company Amgen. They announced that they will buy the psoriasis drug Otezla from Celgene for $13.4 billion in cash.

What's going on at Amgen? This biotech company is also widely held in our client base, and its share price has underperformed a bit lately. The stock price reached $210 late last year, but has since drifted lower to around $180 per share.

Our most important role at Vestact is to closely monitor the stocks that our clients own. Pharmaceutical giant Amgen is held by most of our New York customers. Its share price has been drifting around lately, and closed at $183.17 last night. In fact, there is lots of good stuff going on at Amgen. It's just that some of their current big-selling drugs are reporting declining sales, and their newer ones are taking time to gain traction. Here are two stories that underline why this stock is a good one to own.

Last week Vestact's direct exposure to the pharmaceutical industry, Amgen, reported their Q1 numbers. Currently, the company is in a bit of no-mans land, where some of their big-name patents have recently expired, and the company is waiting for their new big-name drugs to ramp up in scale.

Vestact recommended pharma company Amgen has an extremely promising drug called Erenumab (trade name Aimovig) which is a medication which targets the calcitonin gene-related peptide receptor (CGRPR) for the prevention of migraines. It was approved by the US FDA in 2018.

Last week our favoured biotech stock, Amgen, released results for the fourth quarter and full year 2018. As we have alluded to before, Amgen is going through a phase where a few of their blockbuster drugs are slowing down because of off-patent competition. At the same time they are pushing new exciting drugs into the market. That is not always as easy as it sounds, even if you assume the drug works really well. You still need to convince the doctors, insurers and hospitals to endorse the product.

Amgen is another core holding in Vestact US portfolios, and had results out after the bell last night. As you know, it is one of the world's leading biotechnology companies, with a focus on cardiovascular disease, oncology, bone health, neuroscience, nephrology and inflammation.

When there is a lot going on in the general news, it's useful to refocus on company specific updates. After all, we invest in actual enterprises which do useful things in the real world, and get paid.

Amgen is a core holding in Vestact US portfolios. It is one of the world's leading biotechnology companies, and it closed at a lifetime high of $207.21 last night, giving it a market capitalisation of $134 billion.

On Thursday the world's largest biotech firm Amgen reported a better-than-expected set of numbers for their second quarter. Amgen raised their full-year forecast, as the company sees more growth stemming from Prolia, an osteoporosis drug, and Repatha, a drug that fights bad cholesterol.