Amgen Inc Stock Price, News & Analysis

Amgen (NASDAQ:AMGN) will present at the 2021 Piper Sandler Healthcare Conference on Dec. 1, 2021, at 1:00 p.m. ET. Notable executives Murdo Gordon and Peter H. Griffith will represent the company. The presentation will be available via a live audio webcast accessible to the media, investors, and the public. Following the event, the webcast will be archived for at least 90 days. Amgen is dedicated to developing innovative therapeutics to address serious health conditions, leveraging advanced genetics to enhance patient outcomes.

Amgen (NASDAQ:AMGN) has awarded a $25,000 grant to the Bath Institute of Rheumatic Diseases (BIRD) as part of the UPLIFT Innovation Challenge. This initiative aims to improve solutions for those living with psoriatic disease. BIRD's project focuses on connecting patients and healthcare providers through digital platforms, enhancing understanding and communication. Additionally, four other organizations received honorable mentions, each receiving a $20,000 grant. The challenge emerged from findings of the 2020 UPLIFT survey, highlighting gaps in care for psoriatic disease patients.

Amgen (NASDAQ: AMGN) announced a positive opinion from the European Medicines Agency's Committee for Medicinal Products for Human Use (CHMP) recommending conditional marketing authorization for LUMYKRAS® (sotorasib) to treat adults with advanced non-small-cell lung cancer (NSCLC) harboring the KRAS G12C mutation. This marks a significant step towards the first targeted therapy for this mutation in the EU. The decision is based on the Phase 2 CodeBreaK 100 clinical trial, which showed a 37.1% objective response rate and 12.5 months median overall survival. A decision from the European Commission is expected by mid-January 2022.

Amgen will present at the 2021 Cowen IO Summit on November 15 at 2:15 p.m. ET. Dr. David M. Reese, Executive VP of Research and Development, will lead the presentation. The event will be accessible via live audio webcast for media, investors, and the public on Amgen's website. An archived version will be available for 90 days post-event. Amgen is recognized for its innovative biotechnological approaches to serious illnesses, leveraging human genetics to enhance health outcomes for millions globally.

Amgen announced positive results from the HER-MES study, the first head-to-head trial comparing Aimovig® (erenumab-aooe) to topiramate for migraine prevention. The study demonstrated a significantly lower discontinuation rate due to adverse events (10.6% for Aimovig vs. 38.9% for topiramate) and superior efficacy, with 55.4% of Aimovig patients achieving at least a 50% reduction in monthly migraine days. The findings, published in Cephalalgia, strengthen Aimovig's profile as a migraine treatment, highlighting its potential for wider adoption among patients suffering from this debilitating condition.

Amgen has initiated construction of a new biomanufacturing plant in New Albany, Ohio, with an investment of $365 million, set to become operational by 2024. This facility will create approximately 400 jobs and aims to meet increasing demand for Amgen's medicines in the U.S. The plant is designed to be the company's most efficient and sustainable, with plans for LEED certification. Additionally, Amgen has received accolades for workplace diversity and aims to hire a million Black Americans in the next decade. This expansion marks a significant move for Amgen in maintaining its leadership in biologics.

Amgen (AMGN) reported Q3 2021 revenues of $6.7 billion, marking a 4% year-on-year increase, driven by strong unit demand. GAAP EPS fell 3% to $3.31 due to a $400 million licensing expense, while non-GAAP EPS rose 11% to $4.67. The company generated $2.2 billion in free cash flow but this was a decline from $3.2 billion in Q3 2020. Amgen maintained its full-year revenue guidance between $25.8 billion and $26.2 billion, with GAAP EPS projected at $9.55-$10.21. New product LUMAKRAS showed promising sales, and a robust pipeline is expected to drive long-term growth.

Amgen will release its third quarter financial results on November 2, 2021, after market close. The announcement will be followed by a conference call at 2:00 p.m. PT, featuring CEO Robert A. Bradway and senior management. The call can be accessed via live audio on Amgen's website. This session aims to engage with the investment community, providing insights into the company's performance and future direction.