AMGEN ACQUIRES DARK BLUE THERAPEUTICS, BOLSTERING ONCOLOGY PIPELINE

Rhea-AI Summary

Amgen (NASDAQ: AMGN) announced on Jan 6, 2026 the acquisition of Dark Blue Therapeutics for up to $840 million. The deal adds an investigational small molecule that targets and degrades proteins MLLT1/3, aimed at specific types of acute myeloid leukemia (AML).

Preclinical leukemia models showed promising anti-cancer activity and a mechanism differentiated from current therapies, supporting potential single-agent and combination use to address treatment resistance and durability of remission. Amgen said it will integrate Dark Blue into its research organization to strengthen early oncology discovery and advance the program toward clinical investigation.

Positive

• Deal value up to $840 million
• Adds investigational MLLT1/3-targeting small molecule for AML
• Preclinical models show promising anti-cancer activity
• Integrates team to strengthen early oncology discovery

Negative

• Candidate is currently preclinical with no human clinical data
• Acquisition consideration up to $840 million is a material near-term cash obligation

Key Figures

Acquisition value up to $840 million Dark Blue Therapeutics transaction

Q3 2025 revenue $9,557 million Total revenues, Q3 2025

Q3 2025 net income $3,216 million Net income, Q3 2025

Q3 2025 diluted EPS $5.93 Diluted EPS vs $5.22 last year

Share price $320.72 Pre-news current price

52-week high $346.38 52-week range high

52-week low $257.05 52-week range low

200-day MA $297.79 200-day moving average level

Market Reality Check

$330.17 Last Close

Volume Volume 2,188,783 is below 20-day average 2,834,728 (relative volume 0.77x). normal

Technical Price $320.72 trades above 200-day MA $297.79 and 7.41% below 52-week high $346.38.

Peers on Argus

AMGN fell 2.11% with peers mostly modestly lower (e.g., GILD -2.05%, PFE -0.12%, GSK -0.97%), but no broad momentum signal from scanners.

Common Catalyst Only one major peer headline today: a Gilead research collaboration in oncology; otherwise limited sector-specific news.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Dec 19	Pricing initiative	Positive	+0.9%	Actions with U.S. government to lower medicine costs and boost investment.
Dec 11	FDA approval	Positive	+0.1%	UPLIZNA approval for adults with generalized myasthenia gravis.
Dec 09	Dividend announcement	Positive	+0.5%	Declared <b>$2.52</b> per-share dividend for Q1 2026.
Nov 24	Conference presentation	Neutral	+2.0%	Planned presentation at Citi’s 2025 Global Healthcare Conference.
Nov 24	Conference presentation	Neutral	+2.0%	Planned presentation at Evercore ISI HealthCONx Conference.

Pattern Detected

Recent Amgen headlines, including approvals, dividends, and policy actions, generally aligned with modestly positive 24-hour price reactions.

Recent Company History

Over the past months, Amgen reported stronger Q3 2025 financials, with revenue growth and higher EPS, and continued reducing long-term debt. It secured FDA approval for UPLIZNA in generalized myasthenia gravis on Dec 11, 2025, and announced a $2.52 per-share dividend for Q1 2026. Investor events at major healthcare conferences also coincided with positive price reactions. This acquisition of Dark Blue Therapeutics fits into that backdrop of pipeline expansion and ongoing investment in innovative therapeutics.

Market Pulse Summary

This announcement adds an investigational AML therapy via an up to $840 million acquisition, broadening Amgen’s oncology pipeline with a targeted protein degrader against MLLT1/3. It follows stronger Q3 2025 financials and recent FDA approval for UPLIZNA, reinforcing an innovation-focused strategy. Investors may watch for clinical trial initiation, updates on efficacy versus existing AML therapies, integration into Amgen’s research organization, and how capital allocation balances further deals and shareholder returns.

Key Terms

acute myeloid leukemia medical

"treat acute myeloid leukemiaTHOUSAND OAKS, Calif., Jan. 6, 2026 -- Amgen"

A fast‑moving blood cancer that starts in the bone marrow and crowd out healthy blood cell production, leaving the body short of normal red cells, white cells and platelets. It matters to investors because the disease creates urgent medical need, drives demand for new diagnostics and treatments, and so clinical trial results, regulatory decisions and drug pricing can rapidly change the commercial prospects and valuation of companies working on therapies.

targeted protein degradation medical

"research in targeted protein degradation and leukemia therapeutics, advancing our"

Targeted protein degradation is a drug approach that uses small molecules to mark harmful or malfunctioning proteins inside cells so the cell’s own disposal system breaks them down, rather than simply blocking their activity. For investors, it matters because this method can potentially tackle diseases that traditional drugs cannot reach, offering a new class of therapies with broad commercial and patent potential—like switching from silencing a problem to removing it entirely.

targeted protein degraders medical

"small molecule-targeted protein degraders for oncology, in a transaction"

Targeted protein degraders are a class of drugs that work like a label-and-trash system inside cells: they attach to specific unwanted proteins and recruit the cell’s natural disposal machinery to destroy them. Investors care because this approach can tackle disease-causing proteins that traditional drugs cannot reach, potentially enabling new treatments and revenue streams, but it also comes with scientific and regulatory risk that can drive large swings in company value.

AI-generated analysis. Not financial advice.

Acquisition Adds Differentiated Investigational Molecule Designed to Treat Acute Myeloid Leukemia

THOUSAND OAKS, Calif., Jan. 6, 2026 /PRNewswire/ -- Amgen (NASDAQ: AMGN) today announced its acquisition of Dark Blue Therapeutics Ltd., a privately held biotechnology company based in the United Kingdom advancing first-in-class, small molecule-targeted protein degraders for oncology, in a transaction valued at up to $840 million.  

The acquisition adds to Amgen's portfolio an investigational small molecule that targets and degrades two proteins (MLLT1/3) that drive specific types of acute myeloid leukemia (AML), a fast-growing blood cancer. Preclinical data in leukemia models demonstrate promising anti-cancer activity and mechanistic differentiation from currently available therapies, establishing the rationale for single-agent and combination use to overcome treatment resistance and enhance durability of remission.

"Acute myeloid leukemia remains one of the most difficult cancers to treat, and we see an urgent need for new mechanisms capable of changing the trajectory of this disease," said Jay Bradner, M.D., executive vice president of Research and Development at Amgen. "This acquisition complements and extends our research in targeted protein degradation and leukemia therapeutics, advancing our strategy to invest early in rising medicines for novel therapeutic targets. The adjacency of this program to our considered expertise in cancer biology will propel MLLT1/3-targeting medicines to clinical investigation for patients facing the challenging diagnosis of AML."

Amgen expects to integrate Dark Blue Therapeutics into its existing research organization, further strengthening the company's early oncology discovery efforts.

About Amgen   
Amgen discovers, develops, manufactures and delivers innovative medicines to help millions of patients in their fight against some of the world's toughest diseases. More than 40 years ago, Amgen helped to establish the biotechnology industry and remains on the cutting-edge of innovation, using technology and human genetic data to push beyond what's known today. Amgen is advancing a broad and deep pipeline that builds on its existing portfolio of medicines to treat cancer, heart disease, osteoporosis, inflammatory diseases and rare diseases.  

In 2024, Amgen was named one of the "World's Most Innovative Companies" by Fast Company and one of "America's Best Large Employers" by Forbes, among other external recognitions. Amgen is one of the 30 companies that comprise the Dow Jones Industrial Average^®, and it is also part of the Nasdaq-100 Index^®, which includes the largest and most innovative non-financial companies listed on the Nasdaq Stock Market based on market capitalization. 

For more information, visit Amgen.com and follow Amgen on X, LinkedIn, Instagram, YouTube and Threads.  

Amgen Forward-Looking Statements 
This news release contains forward-looking statements that are based on the current expectations and beliefs of Amgen. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements, including any statements on the outcome, benefits and synergies of collaborations, or potential collaborations, with any other company (including BeOne Medicines Ltd. or Kyowa Kirin Co., Ltd.), the performance of Otezla® (apremilast), our acquisitions of ChemoCentryx, Inc. or Horizon Therapeutics plc (including the prospective performance and outlook of Horizon's business, performance and opportunities, and any potential strategic benefits, synergies or opportunities expected as a result of such acquisition), as well as estimates of revenues, operating margins, capital expenditures, cash, other financial metrics, expected legal, arbitration, political, regulatory or clinical results or practices, customer and prescriber patterns or practices, reimbursement activities and outcomes, effects of pandemics or other widespread health problems on our business, outcomes, progress, and other such estimates and results. Forward-looking statements involve significant risks and uncertainties, including those discussed below and more fully described in the Securities and Exchange Commission reports filed by Amgen, including our most recent annual report on Form 10-K and any subsequent periodic reports on Form 10-Q and current reports on Form 8-K. Unless otherwise noted, Amgen is providing this information as of the date of this news release and does not undertake any obligation to update any forward-looking statements contained in this document as a result of new information, future events or otherwise.

No forward-looking statement can be guaranteed and actual results may differ materially from those we project. Our results may be affected by our ability to successfully market both new and existing products domestically and internationally, clinical and regulatory developments involving current and future products, sales growth of recently launched products, competition from other products including biosimilars, difficulties or delays in manufacturing our products and global economic conditions, including those resulting from geopolitical relations and government actions. In addition, sales of our products are affected by pricing pressure, political and public scrutiny and reimbursement policies imposed by third-party payers, including governments, private insurance plans and managed care providers and may be affected by regulatory, clinical and guideline developments and domestic and international trends toward managed care and healthcare cost containment. Furthermore, our research, testing, pricing, marketing and other operations are subject to extensive regulation by domestic and foreign government regulatory authorities. We or others could identify safety, side effects or manufacturing problems with our products, including our devices, after they are on the market. Our business may be impacted by government investigations, litigation and product liability claims. In addition, our business may be impacted by the adoption of new tax legislation or exposure to additional tax liabilities. Further, while we routinely obtain patents for our products and technology, the protection offered by our patents and patent applications may be challenged, invalidated or circumvented by our competitors, or we may fail to prevail in present and future intellectual property litigation. We perform a substantial amount of our commercial manufacturing activities at a few key facilities, including in Puerto Rico, and also depend on third parties for a portion of our manufacturing activities, and limits on supply may constrain sales of certain of our current products and product candidate development. An outbreak of disease or similar public health threat, and the public and governmental effort to mitigate against the spread of such disease, could have a significant adverse effect on the supply of materials for our manufacturing activities, the distribution of our products, the commercialization of our product candidates, and our clinical trial operations, and any such events may have a material adverse effect on our product development, product sales, business and results of operations. We rely on collaborations with third parties for the development of some of our product candidates and for the commercialization and sales of some of our commercial products. In addition, we compete with other companies with respect to many of our marketed products as well as for the discovery and development of new products. Discovery or identification of new product candidates or development of new indications for existing products cannot be guaranteed and movement from concept to product is uncertain; consequently, there can be no guarantee that any particular product candidate or development of a new indication for an existing product will be successful and become a commercial product. Further, some raw materials, medical devices and component parts for our products are supplied by sole third-party suppliers. Certain of our distributors, customers and payers have substantial purchasing leverage in their dealings with us. The discovery of significant problems with a product similar to one of our products that implicate an entire class of products could have a material adverse effect on sales of the affected products and on our business and results of operations. Our efforts to collaborate with or acquire other companies, products or technology, and to integrate the operations of companies or to support the products or technology we have acquired, may not be successful. There can be no guarantee that we will be able to realize any of the strategic benefits, synergies or opportunities arising from the Horizon acquisition, and such benefits, synergies or opportunities may take longer to realize than expected. We may not be able to successfully integrate Horizon, and such integration may take longer, be more difficult or cost more than expected. A breakdown, cyberattack or information security breach of our information technology systems could compromise the confidentiality, integrity and availability of our systems and our data. Our stock price is volatile and may be affected by a number of events. Our business and operations may be negatively affected by the failure, or perceived failure, of achieving our sustainability objectives. The effects of global climate change and related natural disasters could negatively affect our business and operations. Global economic conditions may magnify certain risks that affect our business. Our business performance could affect or limit the ability of our Board of Directors to declare a dividend or our ability to pay a dividend or repurchase our common stock. We may not be able to access the capital and credit markets on terms that are favorable to us, or at all.

CONTACT: Amgen, Thousand Oaks
Elissa Snook, 609-251-1407 (media) 
Casey Capparelli, 805-447-1746 (investors)  

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SOURCE Amgen

FAQ

What did Amgen (AMGN) announce on January 6, 2026 regarding Dark Blue Therapeutics?

Amgen announced it will acquire Dark Blue Therapeutics for up to $840 million, adding an investigational MLLT1/3-targeting molecule for AML.

How does the acquired molecule target acute myeloid leukemia in the Amgen (AMGN) deal?

The molecule is a small-molecule targeted protein degrader that degrades MLLT1/3, proteins that drive specific AML types.

What evidence supports the Dark Blue Therapeutics program in Amgen's (AMGN) acquisition?

Preclinical leukemia models demonstrated promising anti-cancer activity and mechanistic differentiation from current therapies.

Will Amgen (AMGN) run clinical trials for the MLLT1/3 program and when?

Amgen said it will advance the program toward clinical investigation, but no specific trial start dates were provided.

How will the Dark Blue Therapeutics acquisition affect Amgen's (AMGN) oncology research?

Amgen expects to integrate Dark Blue into its research organization to strengthen early oncology discovery and targeted protein degradation efforts.