Amgen Inc Stock Price, News & Analysis

Amgen will present findings from its oncology portfolio at the ASCO Annual Meeting from June 3-7, 2022. Key updates include the results of the PARADIGM Phase 3 trial comparing Vectibix® with Avastin® for RAS wild-type metastatic colorectal cancer. Additionally, new data on LUMAKRAS® (sotorasib) from the CodeBreaK 100 study highlights resistance mechanisms in KRAS G12C-mutated cancers. This reflects Amgen's commitment to enhancing treatments for challenging cancers. The presentations will cover a range of investigational therapies aimed at improving patient outcomes.

Amgen has launched the 'Double Take' campaign in collaboration with pop icon Lance Bass to raise awareness about psoriatic arthritis. The campaign aims to educate individuals on recognizing early symptoms of the condition, which affects about one million Americans and often goes unnoticed. Bass shares his personal journey of diagnosis and emphasizes the importance of early intervention. The Otezla (apremilast), used for treatment, is highlighted along with its potential side effects, including diarrhea and nausea.

Amgen (NASDAQ:AMGN) will present at the 2022 Bank of America Healthcare Conference on May 11, 2022, at 12:20 p.m. ET. Key executives, including David M. Reese and Peter H. Griffith, will discuss company developments. The presentation will be available via webcast, accessible to investors and the public, and archived for 90 days. Amgen, a leading biotechnology firm, focuses on innovative treatments for serious illnesses and is recognized for its contributions in healthcare, sustainability, and corporate culture.

Amgen (NASDAQ:AMGN) has released its 2021 Environmental, Social & Governance (ESG) report, outlining its commitment to public health and sustainability. The report highlights four key areas: Healthy People, providing $2.2 billion in free medicines; Healthy Society, impacting 27 million through no-cost science education; Healthy Planet, pursuing carbon neutrality by 2027; and A Healthy Amgen, integrating ESG goals into business practices. Recognized by various organizations, Amgen continues to emphasize its role in improving health outcomes and addressing societal challenges.

Amgen reported Q1 2022 total revenues of $6.2 billion, a 6% increase from Q1 2021, driven by 2% growth in product sales and enhanced COVID-19 collaboration revenue. GAAP EPS decreased by 5% to $2.68, while non-GAAP EPS increased by 15% to $4.25. Operating income grew 17% to $2.5 billion, improving the operating margin to 43.6%. Amgen reaffirmed total revenue guidance for 2022 at $25.4-$26.5 billion while adjusting GAAP EPS guidance to $12.53-$13.58. Challenges include IRS tax disputes potentially increasing liabilities by $7.1 billion.

Amgen has released positive results from two open-label extension studies evaluating the long-term safety and tolerability of Repatha (evolocumab) in over 6,600 patients. These studies, following the Phase 3 FOURIER trial, show that Repatha is safe for extended use, with no new safety issues reported over five years. More than 85% of patients achieved LDL-C levels below 40 mg/dL. Amgen emphasizes Repatha's sustained effectiveness in lowering LDL-C in patients with atherosclerotic cardiovascular disease, reinforcing its position as a leader in PCSK9 inhibitors.

Amgen (NASDAQ:AMGN) plans to announce its first quarter financial results on April 27, 2022, after U.S. market close, followed by a conference call at 2:00 p.m. PT. The call will include CEO Robert A. Bradway and senior management, and will be accessible via live audio broadcast online. The conference will discuss Amgen's ongoing commitment to developing innovative therapies and its strong market position as a leading biotechnology company since 1980. More information and the webcast can be found on Amgen's website.

Amgen announced preliminary results from a Phase 3 study of ABP 654, a biosimilar candidate to STELARA (ustekinumab), for treating moderate to severe plaque psoriasis. The primary efficacy analysis showed no clinically meaningful differences between ABP 654 and STELARA, with a mean difference of 0.14 in percentage improvement in psoriasis area severity index (PASI) from baseline to week 12. The safety profile was comparable between both treatments. Amgen aims to expand its biosimilars portfolio, which includes 11 candidates.

Amgen announced significant long-term clinical results from the CodeBreaK 100 trial, focusing on its KRAS^G12C inhibitor, LUMAKRAS^® (sotorasib), for advanced non-small cell lung cancer (NSCLC). In this two-year follow-up of 174 patients, a 40.7% objective response rate (ORR) was observed, with a disease control rate (DCR) of 83.7%. The median duration of response was 12.3 months, and overall survival reached 12.5 months. Importantly, no new safety concerns were reported, affirming LUMAKRAS's position as a leading treatment for KRAS G12C-mutated NSCLC.