Amgen (AMGN) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock's performance in the near term.Shares of this world's largest biotech drugmaker have returned -12.5% over the past month versus the Zacks S&P 500 composite's +2.9% change. The Zacks Medical - Biomedical and Genetics industry, to which Amgen belongs, has gained 1% over this period. Now the key question is: Where could the stock be headed in the near term?Wh ...

Amgen Inc. (NASDAQ:AMGN) TD Cowen 44th Annual Health Care Conference March 5, 2024 9:10 AM ET Company Participants Peter Griffith - Chief Financial Officer Paul Burton - Chief Medical Officer Conference Call Participants Yaron Werber - TD Cowen Yaron Werber All right. Well, welcome once again to the 44th Annual TD Cowen Healthcare Conference. I'm Yaron Werber from the Biotech team, and it's a great pleasure to moderate the fireside chat next with Amgen, first fireside chat for the day, so have very high ex ...

Amgen (AMGN) ended the recent trading session at $279.35, demonstrating a -0.35% swing from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily loss of 0.12%. Elsewhere, the Dow saw a downswing of 0.25%, while the tech-heavy Nasdaq depreciated by 0.41%.Prior to today's trading, shares of the world's largest biotech drugmaker had lost 13.26% over the past month. This has lagged the Medical sector's gain of 3.58% and the S&P 500's gain of 4.83% in that time.The upcoming ...

Much like Big Tech companies ride the AI hype, pharma stocks are counting on valuation boosts from big drug hits and FDA approvals. This anticipation, however, brings to light the importance of discerning which pharma stocks to sell, as not all will sustain their high-growth promises, potentially generating double-digit profits in the short term.This perspective often invites speculation that leads to overvaluation. Over the last three months, the SPDR S&P Pharmaceuticals ETF (NYSEARCA:XPH) is up nearly 22% ...

Core Insights - Amgen has opened a new manufacturing facility in Central Ohio, named Amgen Ohio, which is the most advanced in its global operations network [1] - The facility spans nearly 300,000 square feet and will employ 400 full-time staff, contributing to a $40 million annual payroll [2] - Amgen Ohio is designed to meet high environmental sustainability standards, aligning with the company's goal of achieving carbon neutrality by 2027 [1][2] Company Overview - Amgen is a leading independent biotechnology company focused on discovering, developing, manufacturing, and delivering innovative human therapeutics [3] - The company utilizes advanced human genetics to address serious diseases and improve health outcomes [3] - Amgen has been recognized as one of the 30 companies in the Dow Jones Industrial Average and has received accolades for its workplace environment and climate leadership [4]

The biotech industry can be risky and volatile, but there are advantages to investing in companies in this field. Many of them develop lifesaving drugs, the kinds we'll need until we can completely eradicate diseases, which doesn't seem likely to happen in the next decade.Of course, investing in just any biotech stock won't do. It's important to decide whether a company has the innovative capabilities to stay relevant and continuously deliver strong returns. Let's consider three biotech stocks that have wha ...

Amgen Inc. (NASDAQ:AMGN) Amgen Meeting on Rare Disease February 22, 2024 4:00 PM ET Company Participants Justin Claeys - Vice President of Investor Relations Murdo Gordon - EVP, Global Commercial Operations Vikram Karnani - Executive, Rare Disease Business Paul Burton - Chief Medical Officer James Bradner - Chief Scientific Officer Conference Call Participants Jay Olson - Oppenheimer Michael Yee - Jefferies Yaron Werber - TD Cowen Conor Mackay - Capital Markets Robyn Karnauskas - Truist Securities Chris Sc ...

Amgen Inc. Rare Disease Investor Analyst Call Summary Company Overview - **Company**: Amgen Inc. (NASDAQ: AMGN) - **Date of Call**: February 22, 2024 - **Focus**: Rare Disease as a new growth pillar alongside general medicine, oncology, and inflammation [3][4] Key Points and Arguments Strategic Focus on Rare Disease - Rare disease is identified as Amgen's fourth and newest growth pillar, enhancing existing opportunities in other therapeutic areas [3][4] - The acquisition of TAVNEOS and Horizon has strengthened Amgen's portfolio in rare diseases, establishing a robust growth avenue [4] Growth Projections - Anticipated sustained growth across all pillars through the end of the decade, driven by marketed products and innovative pipeline projects [5][7] - Rare disease products generated nearly $4 billion in sales in 2023, primarily in the U.S., indicating significant room for international expansion [13] Innovative Product Portfolio - Key medicines include: - **TEPEZZA**: First treatment for thyroid eye disease, addressing a critical unmet need [8] - **KRYSTEXXA**: Treatment for uncontrolled gout, showing a 70% reduction in uric acid levels in clinical trials [36][38] - **UPLIZNA**: Targets neuromyelitis optica spectrum disorder (NMOSD), with over 75% reduction in relapse risk [47] - **TAVNEOS**: First-in-class treatment for ANCA-associated vasculitis, showing superior results in sustaining remission compared to standard therapy [60][61] Market Opportunities - Rare diseases often lack treatment options, with only 5% of the estimated 10,000 rare diseases having available therapies [10] - The U.S. market for TEPEZZA has a penetration rate in the high single digits, indicating substantial growth potential [27] - International expansion is a priority, with regulatory reviews and filings underway in Japan and Europe for TEPEZZA [30][31] Patient Challenges and Support - Patients with rare diseases face significant barriers, including misdiagnosis, limited treatment options, and geographic access issues [11][12] - Amgen is committed to enhancing disease awareness and providing comprehensive support to improve patient outcomes [12] Financial Stability and Shareholder Value - Amgen's combined cash flow supports ongoing investments in innovation while delivering shareholder value through a growing dividend [7] - The strategic focus on rare diseases is expected to accelerate revenue growth and contribute to non-GAAP earnings starting in 2024 [7] Research and Development Capabilities - Amgen leverages its robust R&D capabilities and biologics manufacturing expertise to advance its rare disease portfolio [6] - The company is utilizing advanced research platforms to fill data gaps and expedite the development of rare disease medicines [67][68] Pipeline and Future Indications - Ongoing Phase 3 trials for UPLIZNA in IgG4-related disease and myasthenia gravis, with expected data readouts in the second half of 2024 [53][55] - Continued focus on expanding the rare disease portfolio and enhancing treatment options for patients [66] Additional Important Insights - The call highlighted the importance of patient advocacy and community support in addressing the unique needs of rare disease patients [16] - Amgen's commitment to innovation and patient-centric approaches positions it favorably in the rare disease market, with a strong reputation among patient advocacy groups [17] This summary encapsulates the key points discussed during the Amgen Rare Disease Investor Analyst Call, emphasizing the company's strategic focus, growth opportunities, and commitment to addressing the needs of patients with rare diseases.

THOUSAND OAKS, Calif., Feb. 19, 2024 /PRNewswire/ -- Amgen (NASDAQ:AMGN) will host a webcasted call at 1:00 p.m. PT on Thursday, February 22, 2024 to discuss Rare Disease, its newly added fourth pillar of growth, and provide insights on its rare disease strategy and opportunities, including marketed products and pipeline. Murdo Gordon, executive vice president of Global Commercial Operations at Amgen, Jay Bradner, executive vice president of Research and Development and chief scientific officer at Amgen, Vi ...

After facing difficulties last year following the rise in interest rates and a slowdown in merger activities, biotech companies are seeing a turnaround driven by attractive valuations and AI-led advances in medicine.The S&P Biotechnology Select Industry Index has gained 4.10% over the past year and 1.30% month to date.According to Financial Times, biotech firms are swiftly tapping into U.S. equity markets. Drug developers raised $6.2 billion in the markets in January, marking the highest amount raised since ...