First and Only Pill for Children and Adolescents Ages 6-17 with Moderate to Severe Plaque PsoriasisTHOUSAND OAKS, Calif., Aug. 20, 2024 /PRNewswire/ -- Amgen (NASDAQ:AMGN) today announced Otezla® (apremilast) is now available in the U.S. for pediatric use. Earlier this year, the U.S. Food and Drug Administration (FDA) approved Otezla for the treatment of moderate to severe plaque psoriasis in children and adolescents ages 6 and older who weigh at least 20 kg (44 lb) and are candidates for phototherapy or sy ...

Amgen has many growth opportunities ahead, and it also pays a fairly high dividend.If you're looking for a top healthcare company to invest in, you may want to consider looking at one that has multiple fast-growing products in its portfolio. By seeking out diversified growth stocks, you can minimize your risk and reduce significant volatility. If a company has a diverse product mix, it has many ways to grow its operations without being too dependent on a single asset.Amgen (AMGN -0.53%) is coming off a stro ...

Urilux/E+ via Getty Images Investment Overview Amgen Inc. (NASDAQ:AMGN), the Thousand Oaks, California based Pharma giant, reported its Q2 2024 earnings this Tuesday, August 6th. The last time I covered Amgen for Seeking Alpha was in May this year, following Q1 earnings. I gave Amgen stock a “buy” rating, when shares traded at $311, and they subsequently reached a high of $335 — up ~8%, before dipping after Q2 results were announced. First, let's consider the headline figures. Revenues grew by an impres ...

Key TakeawaysAmgen shares fell 5% Wednesday after the drug developer lowered its full-year earnings guidance.Second-quarter revenue jumped 20% year-over-year to $8.4 billion, slightly above expectations, driven by Amgen's October acquisition of Horizon Therapeutics.However, earnings dropped from the year-ago period and missed estimates as costs rose. Amgen (AMGN) shares tumbled 5% Wednesday after the drug developer lowered its full-year earnings guidance. The company said it now expects full-year diluted ea ...

On Tuesday, Amgen Inc. AMGN reported mixed second-quarter results.BMO Capital Markets writes, “A commercially in-line quarter for Amgen underscores the importance of upcoming clinical readouts in obesity and inflammatory disease.” The analyst keeps the Outperform rating with a price target of $362.The analyst notes that while the company’s base business underperformed (Enbrel -6% and Repatha -1% compared to consensus), its growth portfolio had some strength. However, they anticipate greater momentum from Ho ...

Shares may have been likely to fall no matter what the company reported.By no means were Amgen's (AMGN -5.54%) second-quarter numbers "bad." Revenue for most of its core drugs was up year over year, and the slight earnings dip is the predictable result of rising expenses. The pharmaceutical company's outlook remains optimistic as well.Yet, S&P Global Market Intelligence data indicates Amgen shares are down 5.9% as of 12:46 p.m. ET today. The prompt for the sell-off is mostly an earnings miss, but the actual ...

Amgen (AMGN) reported second-quarter 2024 adjusted earnings of $4.97 per share, which beat the Zacks Consensus Estimate of $4.93. Earnings declined 1% year over year due to higher operating costs and higher interest expenses.Total revenues of $8.39 billion beat the Zacks Consensus Estimate of $8.31 billion. Total revenues rose 20% year over year.Total product revenues increased 20% from the year-ago quarter to $8.04 billion. Higher volumes were partially offset by lower selling prices of several drugs. Volu ...

Amgen TodayAMGNAmgen$313.39 -15.56 (-4.73%) 52-Week Range$248.38▼$346.85Dividend Yield2.87%P/E Ratio44.77Price Target$312.63Add to WatchlistAmgen NASDAQ: AMGN is a biotechnology firm that has made its way into the weight loss treatment battle. The company’s shares have performed relatively well in 2024, providing a total return of 16%, outpacing its sector and the market. The Health Care Select Sector SPDR Fund NYSEARCA: XLV has returned 9%.Let's start by exploring Amgen's main products and growth opportuni ...

Financial Data and Key Metrics Changes - Amgen reported second quarter revenues of $8.4 billion, a 20% increase year-over-year, marking the highest quarterly revenue in the company's history, achieved with 26% volume growth [7][39] - Non-GAAP operating margin was 48.2% of product sales, with total non-GAAP operating expenses increasing 30% year-over-year [40] - Free cash flow for the quarter was $2.2 billion, a decrease of $3.8 billion from the previous year, primarily due to the timing of tax payments [41] Business Line Data and Key Metrics Changes - General Medicine portfolio saw sales growth of 20% year-over-year, with Repatha sales increasing 25% to $532 million [11][12] - Inflammation product TEZSPIRE sales grew 76% year-over-year to $234 million [14] - Oncology products collectively grew 12% year-over-year, with BLINCYTO sales increasing 28% to $264 million [17][19] Market Data and Key Metrics Changes - U.S. sales of EVENITY increased 39% year-over-year to $391 million, with significant growth in Japan as well [13] - Rare disease portfolio delivered over $1.1 billion in sales, with TEPEZZA sales at $479 million, reflecting 8% year-over-year growth [20][22] - Biosimilars sales remained stable year-over-year, with upcoming launches expected to drive future growth [16] Company Strategy and Development Direction - Amgen is focused on expanding its pipeline with over a dozen significant milestones anticipated in 2024, including the launch of MariTide for obesity and related conditions [8][10] - The company is investing in manufacturing capacity and digital capabilities to support its innovative pipeline [42][43] - Strategic focus on rare diseases and expanding access to therapies like TEPEZZA and UPLIZNA is a key part of the growth strategy [21][35] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in long-term growth despite market volatility, emphasizing the importance of innovative medicines [6][39] - The company anticipates mid-single-digit growth in revenues for the fourth quarter compared to Q3, with a full-year revenue projection of $32.8 billion to $33.8 billion [44] - Management highlighted the ongoing integration of Horizon and expected synergies to enhance operational efficiency [41][42] Other Important Information - Amgen received accelerated approval for IMDELLTRA for small cell lung cancer, marking a significant advancement in its oncology portfolio [8][26] - The company is actively pursuing international expansion for several products, including TEPEZZA and UPLIZNA [21][22] Q&A Session Summary Question: Insights on UPLIZNA and MINT study data expectations - Management expressed excitement about UPLIZNA's performance and the potential to liberate patients from steroids, with results expected in the second half of the year [47][48] Question: Enbrel negotiations with CMS and market impact - Management noted that Enbrel continues to perform well despite competition, and the CMS price negotiation process has concluded [53][54] Question: Positioning of MariTide in the obesity market - Management remains confident in MariTide's differentiated profile and its potential to address unmet needs in obesity and related conditions [56][58] Question: Timing for MariTide Phase III program initiation - Management indicated that they are focused on completing the Phase II trial before moving to Phase III, without providing specific dates [74]

Amgen (AMGN) reported $8.39 billion in revenue for the quarter ended June 2024, representing a year-over-year increase of 20.1%. EPS of $4.97 for the same period compares to $5.00 a year ago.The reported revenue represents a surprise of +0.98% over the Zacks Consensus Estimate of $8.31 billion. With the consensus EPS estimate being $4.93, the EPS surprise was +0.81%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expecta ...