Welcome to our dedicated page for Amgen news (Ticker: AMGN), a resource for investors and traders seeking the latest updates and insights on Amgen stock.
Amgen Inc. reports developments across its biotechnology medicines business, including discovery, development, manufacturing and delivery of human therapeutics. Company updates center on a portfolio and pipeline spanning cancer, inflammatory conditions, rare diseases, heart disease, obesity and obesity-related conditions, with named products and programs such as TEPEZZA, Repatha and IMDELLTRA appearing in clinical and commercial announcements.
Recurring news also covers quarterly financial results, non-GAAP performance measures, manufacturing network investments, supply-chain capacity, research collaborations, medical and investor conference presentations, and executive or organizational changes tied to the integration of biology, technology, artificial intelligence and data across Amgen's operations.
Amgen (NASDAQ: AMGN) announced new data from its inflammation pipeline will be presented at the EADV 30th Congress from Sept. 29 to Oct. 2, 2021. Key highlights include late-breaking results from a Phase 2 study of AMG 451/KHK4083, a potential treatment for moderate-to-severe atopic dermatitis, and new data from the Phase 3 ADVANCE trial on Otezla's efficacy for plaque psoriasis. Amgen aims to share insights into innovative treatments for patients with severe skin conditions, reflecting its commitment to dermatologic diseases advancement.
Amgen (NASDAQ:AMGN) will present at Morgan Stanley's 19th Annual Global Healthcare Conference on September 14, 2021, at 2:45 p.m. ET. CEO Robert A. Bradway will lead the presentation, which will be available for live streaming online, accessible to media, investors, and the public. The webcast can be found on Amgen's official website under the Investors section and will be archived for 90 days post-event. Amgen is known for its focus on discovering and developing innovative therapies aimed at unmet medical needs.
Amgen announced new data from the Phase 2 CodeBreaK 100 trial of LUMAKRAS (sotorasib), the first KRASG12C inhibitor approved in the U.S. for treating KRAS G12C-mutated non-small cell lung cancer (NSCLC). Results showed a 77.5% disease control rate and median overall survival of 8.3 months in patients with stable brain metastases. Furthermore, Amgen is advancing the investigational therapy acapatamab in NSCLC. The findings were presented at the virtual 2021 World Conference on Lung Cancer, highlighting Amgen's commitment to developing targeted therapies for challenging cancers.
Amgen announced groundbreaking results from the NAVIGATOR Phase 3 trial for tezepelumab, showing an 86% reduction in exacerbation rates in patients with severe asthma and comorbid nasal polyps. This potential first-in-class treatment, targeting thymic stromal lymphopoietin (TSLP), also demonstrated improved lung function and nasal symptom relief. The trial involved 1,061 patients and confirmed tezepelumab's effectiveness irrespective of eosinophil levels, reinforcing its potential for a broad patient population. Safety results showed no significant differences between treatment and placebo groups.
Amgen (NASDAQ:AMGN) will present at Citi's 16th Annual BioPharma Conference on Sept. 8, 2021, at 1:25 p.m. ET. Murdo Gordon, Amgen's executive vice president of Global Commercial Operations, will lead the presentation. The event will be available for live audio streaming for media, investors, and the public via Amgen's website, where it will also be archived for 90 days post-event. Amgen, a biotechnology leader since 1980, focuses on developing innovative therapeutics for serious medical conditions.
Amgen reported Q2 2021 revenues of $6.5 billion, a 5% increase year-over-year, driven by strong unit demand despite lower net selling prices. GAAP EPS fell 73% to $0.81 due to a significant write-off from the Five Prime Therapeutics acquisition, while non-GAAP EPS rose 4% to $4.38. Operating income on a GAAP basis dropped 64% to $0.8 billion, leading to a 25.8 percentage point decrease in operating margin to 13.5%. Free cash flow was $1.7 billion, down from $2.7 billion in Q2 2020. Amgen reaffirmed its total revenue guidance for 2021 at $25.8 to $26.6 billion, while revising GAAP EPS guidance downwards.
Amgen (NASDAQ: AMGN) has declared a $1.76 per share dividend for Q3 2021, set to be paid on September 8, 2021, to stockholders of record by August 17, 2021. This action reflects the company's ongoing commitment to returning value to its shareholders. Amgen continues to focus on developing innovative therapeutics to address unmet medical needs and improve patient health outcomes. The company, established in 1980, is recognized as a leader in biotechnology, striving to advance its pipeline of medicines.
Amgen announced the appointment of S. Omar Ishrak to its Board of Directors, effective immediately. Dr. Ishrak, a seasoned leader with extensive experience in the healthcare sector, will also serve on the Corporate Responsibility and Compliance Committee and the Compensation and Management Development Committee. With this addition, Amgen's Board now comprises 12 directors, 11 of whom are independent. Ishrak previously served as CEO of Medtronic and has held pivotal roles at GE Healthcare. His expertise is expected to enhance Amgen's focus on innovation and patient care.
Amgen (NASDAQ:AMGN) will report its Q2 2021 financial results on August 3, 2021, after U.S. market close. A conference call is scheduled for 2:00 p.m. PT, featuring CEO Robert A. Bradway and senior management. The call will be broadcast live and accessible to the media and general public. Amgen, a leader in biotechnology since 1980, focuses on developing therapies for serious illnesses through advanced human genetics, with a commitment to improving health outcomes.
Amgen has announced an agreement to acquire Teneobio for $900 million in upfront cash, with potential future milestone payments of up to $1.6 billion. Teneobio specializes in Human Heavy-Chain Antibodies and its advanced bispecific and multispecific antibody technologies will enhance Amgen's capabilities in treating various diseases. The acquisition adds TNB-585, a Phase 1 bispecific T-cell engager for metastatic prostate cancer, along with several preclinical oncology assets. The deal is expected to close in the second half of 2021, pending regulatory approvals.