← Biogen overview

Biogen vs Amgen: why the prices moved differently

Weekly · monthly · quarterly news summaries, side by side in time

Biogen Inc (BIIB)

Q3 2026
▼3▲1

Biogen's mixed quarter: Leqembi approvals offset trial miss and guidance cut

  • Leqembi approvals expand access The FDA approved at-home subcutaneous Leqembi, and China and Japan approved injections, making the Alzheimer's drug easier to use. Leqembi sales rose 15% to about $184 million, helping Q2 results beat expectations.

    This is a key positive development that drove investor optimism and revenue growth.

  • Diranersen trial failure Biogen's experimental drug diranersen missed its main trial goal, causing shares to drop 9%. This setback raised concerns about the company's pipeline and future growth prospects.

    This was a major negative event that directly impacted the stock price.

  • Guidance cut on acquisition charges Biogen cut its 2026 earnings guidance to $12–$13 per share due to about $3.85 per share in acquisition charges, including from the $5.6 billion Apellis buyout. This lowered profit expectations.

    The guidance cut is a significant negative factor that weighed on the stock.

  • Medicare pricing pressure on ZURZUVAE Medicare pricing pressure may limit the launch of ZURZUVAE, and Biogen is restricting it to a few European countries. This could slow the drug's uptake and revenue potential.

    This highlights a regulatory and pricing challenge that could hinder growth.

August 2026
▲3▼1

Biogen expands Alzheimer's reach but pricing and competition weigh

  • RayThera acquisition adds immunology drug Biogen acquired RayThera, gaining an early-stage immunology drug. This adds a new potential treatment to its pipeline, showing progress in building future growth beyond its current medicines.

    New acquisition expands pipeline, a key positive development in the period.

  • China and Japan approve at-home Leqembi injections China and Japan approved at-home under-the-skin Leqembi injections, making Alzheimer's treatment easier and expanding the market. This could boost sales and patient access in key regions.

    Geographic expansion of Leqembi is a new positive catalyst for demand.

  • Ten Phase 3 programs promise growth Biogen has ten late-stage programs in development, which could drive future growth as its multiple sclerosis revenue shrinks. This shows a strong pipeline to replace older products.

    Pipeline strength is a forward-looking positive not previously highlighted.

  • Medicare pricing pressure may limit ZURZUVAE launch Medicare pricing pressure could hurt the launch of ZURZUVAE, and Biogen is limiting it to a few European countries. This adds risk to a key new product's sales potential.

    New pricing and launch risk for ZURZUVAE is a negative factor.

Latest
▲3▼1

Biogen's pipeline push and Leqembi rollout drive gains, but pricing risks loom

  • 10 Phase III programs signal growth beyond MS Biogen said it has 10 late-stage trials with results starting in Q4, shifting focus from its shrinking MS business to new drugs like LEQEMBI and ZURZUVAE. This raises hopes for future revenue growth, supporting the stock.

    This is the main new strategic update that could drive long-term growth and investor optimism.

  • Japan approves at-home Leqembi injection Japan cleared a subcutaneous form of Leqembi, allowing weekly at-home dosing instead of hospital infusions. This is the third country to approve it, making the Alzheimer's drug easier to use and expanding its market, which could boost sales.

    New regulatory approval directly expands the addressable market for a key growth drug.

  • Medicare price crackdown may limit Zurzuvae launch A study warns that U.S. efforts to align Medicare drug prices with cheaper countries could push companies to raise prices or withdraw medicines elsewhere. Biogen's CEO said Zurzuvae will launch in only a few European countries to offset lost U.S. revenue, signaling a hit to its global sales potential.

    This is a new regulatory risk that could reduce future revenue from a key product.

  • Biogen posts best quarterly revenue beat in group Biogen's Q2 revenue of $2.74 billion rose 3.4% and beat expectations by 12.1%, the strongest among 11 therapeutics stocks. This shows better-than-expected commercial execution, which can lift investor confidence.

    New earnings data confirms strong performance relative to peers, a positive fundamental signal.

▲3

Biogen's mixed quarter: raised revenue, cut EPS, new China approval

  • RayThera acquisition closes, EPS guidance cut Biogen completed its purchase of RayThera, adding an early-stage immunology drug. But acquisition charges forced it to slash 2026 adjusted EPS guidance to $12–$13 from $14.25–$15.25. The revenue outlook rose to mid-single-digit growth, but the profit hit is what investors will feel near-term.

    This is the single biggest new event, directly changing Biogen's earnings outlook and explaining the stock's mixed reaction.

  • China approves at-home LEQEMBI injection China approved a subcutaneous (under-the-skin) form of LEQEMBI for early Alzheimer's, allowing weekly at-home dosing instead of hospital infusions. This is the second country to clear it, after the U.S. in July. It widens the market and makes treatment far easier for patients.

    A new regulatory approval in a huge market (17 million early Alzheimer's patients in China) directly boosts the long-term sales potential of Biogen's key Alzheimer's drug.

  • Five Phase 3 readouts ahead; shares seen as undervalued Biogen raised its non-GAAP EPS guidance and has five late-stage trial results coming in lupus, transplant and rare diseases. Shares trade about 10% below the average analyst target, with a 54% one-year total return. But competition in MS and Alzheimer's, plus launch risks for LEQEMBI and ZURZUVAE, remain real concerns.

    This gives the forward-looking catalyst picture and the valuation gap, which is central to why investors are watching Biogen now.

  • Biogen adopts Veeva's AI-powered CRM globally Biogen selected Veeva's Vault CRM suite, an AI-driven sales and safety platform, for global use. This is an operational upgrade, not a direct revenue driver, but it signals Biogen is investing in modern commercial infrastructure. It also deepens a multi-year software relationship, which can lower long-term selling costs.

    It shows Biogen is modernizing its commercial operations with AI, a modest but real positive for efficiency and execution.

July 2026
▲2▼2

Biogen's mixed July: Leqembi wins, diranersen disappoints, guidance cut

  • FDA approves at-home subcutaneous Leqembi The FDA approved Leqembi Iqlik, an at-home under-the-skin version of Biogen's Alzheimer's drug. This should make treatment easier and more convenient, potentially boosting demand and future sales.

    This is a new regulatory approval that could drive future revenue growth.

  • Q2 results beat on rare-disease and Leqembi demand Biogen's second-quarter results beat expectations, helped by strong demand for rare-disease drugs and Leqembi, with Leqembi sales up 15% to about $184 million. This shows the company's newer products are gaining traction.

    This is new financial data showing better-than-expected performance.

  • Diranersen trial misses goal, shares drop 9% Biogen's experimental Alzheimer's drug diranersen missed its main trial goal, with a puzzling result: the lowest dose worked best while higher doses did worse. The failure sent shares down about 9%.

    This is a major clinical setback that directly hurt the stock.

  • 2026 earnings guidance cut on acquisition charges Biogen lowered its 2026 adjusted earnings forecast to $12–$13 per share from $14.25–$15.25, due to about $3.85 per share in acquisition charges, including 85 cents from the $5.6 billion Apellis buyout.

    This is a new guidance cut that weighs on investor expectations.

▲3▼1

Biogen beats on drug demand but cuts 2026 profit outlook

  • Q2 beat on rare-disease and Leqembi demand Biogen's second-quarter profit and revenue beat expectations, helped by strong sales of rare-disease medicines and a 15% rise in Leqembi sales to about $184 million. This shows the core business is growing, which supports the stock.

    This is the main new event of the period and directly explains why Biogen is moving.

  • 2026 profit guidance cut on Apellis charges Biogen slashed its 2026 adjusted earnings forecast to $12–$13 per share from $14.25–$15.25, largely due to $3.85 per share of acquisition-related charges, including 85 cents from the $5.6 billion Apellis buyout. This weighs on the stock.

    This is the key counterweight that explains why the stock isn't rising more despite the earnings beat.

  • Leqembi real-world data and sales momentum A real-world study showed over 75% of early Alzheimer's patients remained stable on Leqembi, and Q2 sales grew 43% excluding one-time stockpiling. This supports adoption and future sales, a positive for Biogen as Eisai's partner.

    This new evidence reinforces the commercial case for Biogen's key Alzheimer's drug.

  • Pipeline progress: Gazyva priority review, litifilimab enrollment The FDA granted priority review to Gazyva for a rare kidney disease, and Biogen's lupus drug litifilimab completed Phase III enrollment with results due in H2 2026. These advance the pipeline and offer future growth, supporting the stock.

    These are new regulatory and clinical milestones that add to the long-term growth story.

▲3▼1

Leqembi at-home approval lifts Biogen, but diranersen dosing flaw triggers sell-off

  • FDA approves at-home subcutaneous Leqembi The FDA approved Leqembi Iqlik, a once-weekly under-the-skin injection for early Alzheimer's, allowing at-home dosing. This removes the need for IV infusions, which should boost patient demand and sales. Biogen shares rose on the news.

    This is a major new approval that directly expands the market for Biogen's key Alzheimer's drug.

  • Diranersen shows 42% cognitive decline slowdown Biogen presented Phase 2 data showing its tau-targeting drug diranersen slowed cognitive decline by 42% on one measure and cut tau tangles. This suggests a potential new Alzheimer's treatment, lifting hopes for future growth.

    Positive efficacy data from a new drug candidate is a key driver of investor optimism.

  • Dosing paradox clouds diranersen data, stock tumbles The same Phase 2 trial missed its main goal because the lowest dose worked best while higher doses did worse. This unexplained 'dosing paradox' raised doubts about the drug's effectiveness and path forward, causing Biogen shares to fall nearly 9%.

    This negative twist directly caused a sharp sell-off and creates uncertainty about a key pipeline asset.

  • Truist upgrade highlights Alzheimer's pipeline A Truist analyst upgrade pointed to optimism for Biogen's Alzheimer's pipeline, helping the stock gain even as the broader market fell. This analyst view reinforced positive sentiment around the company's Alzheimer's efforts.

    Analyst upgrade is a fresh catalyst that supported the stock price during the period.

Q2 2026
▲2▼2

Biogen buys RayThera, wins FDA tag, but legal probe and legacy decline weigh

  • RayThera acquisition expands immunology pipeline Biogen agreed to buy private biotech RayThera for up to $1 billion, mostly in future milestone payments. This adds early-stage anti-inflammatory drugs to its pipeline, a bet on future growth. Investors liked the move, helping push the stock up.

    This is the main new event driving positive sentiment and shows Biogen's strategy to replace lost revenue.

  • FDA Breakthrough Therapy designation for Salanersen Biogen's spinal muscular atrophy drug candidate Salanersen received FDA Breakthrough Therapy status, which speeds up development and review. This signals the drug may be effective and could become a future growth driver, boosting investor confidence.

    This is a new regulatory win that supports the bull case for Biogen's pipeline.

  • Securities fraud investigation over CELIA study Law firm Pomerantz is investigating Biogen for possible securities fraud related to its Phase 2 CELIA study, which missed its main goal but was described positively. This legal risk could lead to fines or lawsuits, weighing on the stock.

    This is a new negative event that introduces regulatory and legal uncertainty.

  • Legacy drug sales decline continues to drag Biogen's older multiple sclerosis drugs and Spinraza are losing sales to generics and rivals. Newer drugs are growing but not fast enough to fully offset the decline. This ongoing pressure limits overall revenue growth and keeps a lid on the stock.

    This is a key fundamental challenge that offsets positive pipeline news and explains why the stock isn't higher.

June 2026
▲2▼2

Biogen buys RayThera, wins FDA tag, but legal probe and legacy decline weigh

  • RayThera acquisition expands immunology pipeline Biogen agreed to buy private biotech RayThera for up to $1 billion, mostly in future milestone payments. This adds early-stage anti-inflammatory drugs to its pipeline, a bet on future growth. Investors liked the move, helping push the stock up.

    This is the main new event driving positive sentiment and shows Biogen's strategy to replace lost revenue.

  • FDA Breakthrough Therapy designation for Salanersen Biogen's spinal muscular atrophy drug candidate Salanersen received FDA Breakthrough Therapy status, which speeds up development and review. This signals the drug may be effective and could become a future growth driver, boosting investor confidence.

    This is a new regulatory win that supports the bull case for Biogen's pipeline.

  • Securities fraud investigation over CELIA study Law firm Pomerantz is investigating Biogen for possible securities fraud related to its Phase 2 CELIA study, which missed its main goal but was described positively. This legal risk could lead to fines or lawsuits, weighing on the stock.

    This is a new negative event that introduces regulatory and legal uncertainty.

  • Legacy drug sales decline continues to drag Biogen's older multiple sclerosis drugs and Spinraza are losing sales to generics and rivals. Newer drugs are growing but not fast enough to fully offset the decline. This ongoing pressure limits overall revenue growth and keeps a lid on the stock.

    This is a key fundamental challenge that offsets positive pipeline news and explains why the stock isn't higher.

▲2▼2

Biogen buys RayThera, wins FDA tag, but legal probe and legacy decline weigh

  • RayThera acquisition expands immunology pipeline Biogen agreed to buy private biotech RayThera for up to $1 billion, mostly in future milestone payments. This adds early-stage anti-inflammatory drugs to its pipeline, a bet on future growth. Investors liked the move, helping push the stock up.

    This is the main new event driving positive sentiment and shows Biogen's strategy to replace lost revenue.

  • FDA Breakthrough Therapy designation for Salanersen Biogen's spinal muscular atrophy drug candidate Salanersen received FDA Breakthrough Therapy status, which speeds up development and review. This signals the drug may be effective and could become a future growth driver, boosting investor confidence.

    This is a new regulatory win that supports the bull case for Biogen's pipeline.

  • Securities fraud investigation over CELIA study Law firm Pomerantz is investigating Biogen for possible securities fraud related to its Phase 2 CELIA study, which missed its main goal but was described positively. This legal risk could lead to fines or lawsuits, weighing on the stock.

    This is a new negative event that introduces regulatory and legal uncertainty.

  • Legacy drug sales decline continues to drag Biogen's older multiple sclerosis drugs and Spinraza are losing sales to generics and rivals. Newer drugs are growing but not fast enough to fully offset the decline. This ongoing pressure limits overall revenue growth and keeps a lid on the stock.

    This is a key fundamental challenge that offsets positive pipeline news and explains why the stock isn't higher.

Amgen Inc (AMGN)

Q3 2026
▲2▼2

Amgen Q3: Pelacarsen Blow Sinks Shares, Recalls and Rival Threats Weigh

  • Pelacarsen failure casts doubt on Amgen's olpasiran Novartis' heart drug pelacarsen failed, and because Amgen's similar olpasiran works the same way, investors feared it could fail too. Shares fell about 10% and BMO downgraded the stock.

    This was the single most severe event of the quarter, directly sinking the share price.

  • Court blocks Colorado's 70% Enbrel price cap A court blocked Colorado's 70% price cap on Enbrel, reducing regulatory risk for Amgen's biggest drug. This removes a threat that could have slashed revenue from a key product.

    A major legal win that eased a key overhang on the stock.

  • Q2 beat and raised guidance, key products grow 26% Amgen's Q2 earnings and revenue beat estimates, and the company raised its full-year guidance. Six key products grew 26%, showing the new drug lineup is driving growth.

    Strong financial results and raised outlook support the stock.

  • Recalls, competition, pipeline setback, cyberattack Corlanor and Sensipar recalls raised quality concerns. Merck's cheaper oral PCSK9 threatens Repatha, Sotyktu may erode Otezla, AMG 513 was discontinued, and a cyberattack triggered lawsuits.

    Multiple negative events that weighed on sentiment and future growth prospects.

September 2026
▲2▼2

Novartis Lp(a) Failure Sinks Amgen; IMDELLTRA Wins Offer Counterweight

  • Novartis Lp(a) failure casts doubt on Amgen's olpasiran Novartis' rival Lp(a)-lowering drug pelacarsen failed its Phase 3 heart trial, even though it lowered Lp(a). Amgen's similar drug olpasiran now faces the same doubt, and Amgen shares fell about 10% — their worst day since 2000 — as investors fear olpasiran may also fail to prevent heart attacks.

    This is the main new force driving AMGN down this period.

  • BMO downgrades Amgen on olpasiran risk BMO Capital downgraded Amgen to Market Perform from Outperform, keeping a $450 target but warning that olpasiran now carries more risk. A downgrade tells investors the analyst sees less upside, which can push the stock down and keep a lid on any recovery.

    Analyst downgrade is a direct new negative catalyst for the stock.

  • IMDELLTRA combo shows landmark survival benefit in lung cancer Amgen's IMDELLTRA combined with AstraZeneca's Imfinzi met its main goal in a Phase 3 lung-cancer study, significantly extending overall survival. This is the first such win for a bispecific T-cell engager in this setting, boosting confidence in a key new growth drug.

    A major positive pipeline win that offsets some of the Lp(a) pessimism.

  • FDA eases IMDELLTRA monitoring, making it easier to use The FDA approved a label update cutting required monitoring after the first two IMDELLTRA doses from 22–24 hours to 6–8 hours. Shorter monitoring makes the drug simpler to give, especially in community clinics, which could widen its use and support sales.

    Regulatory win that improves commercial practicality of a growth drug.

Latest
▲2▼2

Novartis Lp(a) Failure Sinks Amgen; IMDELLTRA Wins Offer Counterweight

  • Novartis Lp(a) failure casts doubt on Amgen's olpasiran Novartis' rival Lp(a)-lowering drug pelacarsen failed its Phase 3 heart trial, even though it lowered Lp(a). Amgen's similar drug olpasiran now faces the same doubt, and Amgen shares fell about 10% — their worst day since 2000 — as investors fear olpasiran may also fail to prevent heart attacks.

    This is the main new force driving AMGN down this period.

  • BMO downgrades Amgen on olpasiran risk BMO Capital downgraded Amgen to Market Perform from Outperform, keeping a $450 target but warning that olpasiran now carries more risk. A downgrade tells investors the analyst sees less upside, which can push the stock down and keep a lid on any recovery.

    Analyst downgrade is a direct new negative catalyst for the stock.

  • IMDELLTRA combo shows landmark survival benefit in lung cancer Amgen's IMDELLTRA combined with AstraZeneca's Imfinzi met its main goal in a Phase 3 lung-cancer study, significantly extending overall survival. This is the first such win for a bispecific T-cell engager in this setting, boosting confidence in a key new growth drug.

    A major positive pipeline win that offsets some of the Lp(a) pessimism.

  • FDA eases IMDELLTRA monitoring, making it easier to use The FDA approved a label update cutting required monitoring after the first two IMDELLTRA doses from 22–24 hours to 6–8 hours. Shorter monitoring makes the drug simpler to give, especially in community clinics, which could widen its use and support sales.

    Regulatory win that improves commercial practicality of a growth drug.

August 2026
▲2▼2

Amgen beats Q2, raises guidance, but obesity setback and cyberattack weigh

  • Q2 earnings beat and guidance raise Amgen reported Q2 adjusted EPS of $6.29 and revenue of $10.05B, beating estimates, and raised its 2026 guidance. Six key growth products grew 26%, reducing reliance on older drugs.

    This is a new positive fundamental development that directly supports the stock.

  • Repatha and Tezspire clinical wins Repatha cut death risk by 20% in a major heart trial, and Tezspire met all goals in an eosinophilic esophagitis study. These results lifted shares to a 52-week high and prompted analyst target hikes.

    New clinical data and analyst reactions are key drivers of the stock's move this period.

  • Obesity drug AMG 513 discontinued Amgen discontinued its obesity drug AMG 513, leaving MariTide trailing Eli Lilly and Novo Nordisk in the lucrative obesity market. This raises concerns about Amgen's competitive position.

    This is a new negative event that affects future growth prospects.

  • Cyberattack and drug-price pressure A July cyberattack exposed patient and proprietary data, triggering a class action investigation. Also, a looming US drug-price agreement with mid-sized biotechs could pressure Medicaid revenue.

    These are new risk factors that emerged during the period and could weigh on the stock.

▲3▼1

Amgen Hits 52-Week High on Q2 Beat, Repatha and Tezspire Wins

  • Repatha Cuts Death Risk 20% in Major Heart Trial Amgen's Repatha reduced death risk by 20% in high-risk heart patients in the VESALIUS-CV trial, a major win for its biggest growth drug. This strengthens the case for wider use and future sales, supporting a higher stock price.

    This is a new, high-impact clinical win that directly boosts confidence in Amgen's key growth driver.

  • Tezspire Meets All Goals in Eosinophilic Esophagitis Trial Amgen and AstraZeneca's Tezspire succeeded in a Phase 3 trial for eosinophilic esophagitis, a chronic throat condition with few good treatments. This opens a new market and adds to Tezspire's growth story, lifting investor optimism.

    New positive trial results expand a key product's potential, a fresh catalyst for the stock.

  • US Drug Price Agreement with Mid-Sized Biotechs Looms The Trump administration is expected to announce a drug price agreement with mid-sized biotech firms, and Amgen was among companies urged to cut US prices. If Amgen is included, lower Medicaid prices could pressure revenue and weigh on the stock.

    This is a new regulatory risk that could directly affect Amgen's pricing and profits.

  • Analyst Fair Value and Price Targets Raised After Q2 Beat Following Amgen's strong Q2 results, analysts raised their fair value estimate to about $372 and several price targets into the $450 range, citing broad franchise strength. Higher targets can pull the stock up as investors adjust expectations.

    This is a new analyst reaction that reflects upgraded expectations and can influence the stock price.

▲2▼2

Amgen Q2 Beat and Guidance Raise Outweigh Data Breach and Obesity Setback

  • Q2 earnings beat and raised 2026 guidance Amgen reported Q2 adjusted EPS of $6.29, well above the $5.62 consensus, and revenue of $10.05 billion, up 10% and ahead of forecasts. Management raised full-year revenue and EPS guidance, signaling confidence in the business. This directly boosts the stock as investors see stronger profits ahead.

    This is the main new positive event that drove the stock up over 5% this period.

  • Key growth drivers show strong momentum Six key products, including Repatha, Evenity, Uplizna, and Imdelltra, grew 26% year-over-year and now make up nearly 70% of product sales. This reduces reliance on older drugs like Enbrel and Otezla, which are facing competition. The shift supports future revenue growth and lifts investor confidence.

    It explains the underlying strength behind the earnings beat and why the stock rose.

  • Cybersecurity breach and class action investigation Amgen disclosed a July cyberattack where sensitive patient and proprietary data was stolen. A law firm has launched a class action investigation. This creates legal and reputational risk, which could weigh on the stock, though Amgen says operations are not materially affected.

    It is a new negative event that could pressure the stock and is important for a balanced view.

  • Obesity drug AMG 513 discontinued; MariTide faces tough competition Amgen ended development of early-stage obesity drug AMG 513, leaving MariTide as its only obesity candidate. MariTide's weight-loss data trails Eli Lilly's and Novo Nordisk's drugs, and switching patients may be hard. This raises doubts about Amgen's ability to compete in the lucrative obesity market.

    It is a new setback that could limit future growth and is a key counterweight to the positive earnings.

July 2026
▼3▲1

Enbrel price cap blocked, but recalls and new rivals pressure Amgen

  • Court blocks Colorado's 70% Enbrel price cap A federal judge stopped Colorado from capping Enbrel's price by 70%. This removes a big worry that other states might follow, protecting Amgen's future sales and cash flow. The stock could rise as investors see less regulatory risk.

    This is a major new legal win that directly supports Amgen's revenue outlook.

  • Recalls of Corlanor and Sensipar raise quality concerns Amgen recalled some lots of heart drug Corlanor and kidney drug Sensipar due to foreign substances and manufacturing issues. This adds compliance risk and could lead to fines or lost sales, weighing on the stock as investors question production quality.

    New recalls create fresh regulatory and reputational risk that can hurt the stock.

  • New oral PCSK9 rival threatens Repatha Merck won FDA approval for Lipfendra, the first oral cholesterol drug in the same class as Amgen's injectable Repatha. It costs much less per month, so it could steal market share and slow Repatha's growth, pressuring Amgen's revenue.

    A new lower-priced competitor directly challenges a key Amgen growth drug.

  • Sotyktu launch may take share from Otezla Bristol Myers Squibb's new oral drug Sotyktu is gaining traction among arthritis doctors, and Amgen's Otezla is cited as likely to lose patients. This could reduce Otezla sales, a negative for Amgen's earnings outlook.

    New competitive data shows a direct threat to an existing Amgen product.

▼3▲1

Enbrel price cap blocked, but recalls and new rivals pressure Amgen

  • Court blocks Colorado's 70% Enbrel price cap A federal judge stopped Colorado from capping Enbrel's price by 70%. This removes a big worry that other states might follow, protecting Amgen's future sales and cash flow. The stock could rise as investors see less regulatory risk.

    This is a major new legal win that directly supports Amgen's revenue outlook.

  • Recalls of Corlanor and Sensipar raise quality concerns Amgen recalled some lots of heart drug Corlanor and kidney drug Sensipar due to foreign substances and manufacturing issues. This adds compliance risk and could lead to fines or lost sales, weighing on the stock as investors question production quality.

    New recalls create fresh regulatory and reputational risk that can hurt the stock.

  • New oral PCSK9 rival threatens Repatha Merck won FDA approval for Lipfendra, the first oral cholesterol drug in the same class as Amgen's injectable Repatha. It costs much less per month, so it could steal market share and slow Repatha's growth, pressuring Amgen's revenue.

    A new lower-priced competitor directly challenges a key Amgen growth drug.

  • Sotyktu launch may take share from Otezla Bristol Myers Squibb's new oral drug Sotyktu is gaining traction among arthritis doctors, and Amgen's Otezla is cited as likely to lose patients. This could reduce Otezla sales, a negative for Amgen's earnings outlook.

    New competitive data shows a direct threat to an existing Amgen product.

Q2 2026
▲2▼2

Amgen's growth drivers offset legal and regulatory setbacks

  • Growth drivers now 70% of sales Amgen's key growth drugs (Repatha, rare disease) grew 24% and now make up 70% of total sales, offsetting declines in older drugs. This shows the company's transition is working, which supports the stock price.

    This is the core positive force behind Amgen's business momentum.

  • MariTide and Repatha data advance Amgen's obesity drug MariTide is in phase 3 trials, and Repatha cut heart events by 29% in high-risk diabetes patients. These could become major new revenue sources, lifting future earnings expectations.

    Pipeline progress is a key driver of long-term growth and investor optimism.

  • Tavneos regulatory and data integrity crisis EU regulators recommend revoking Tavneos approval, and NEJM retracted the trial supporting it after FDA found data issues. The FDA may withdraw the drug in the US. This creates uncertainty and could hurt Amgen's reputation and sales.

    This is a major negative regulatory event that threatens a marketed drug and investor confidence.

  • Competition and patent risks Roche's divarasib beat Amgen's Lumakras in lung cancer, threatening Lumakras sales. Also, a jury found Amgen willfully infringed a patent, raising legal concerns. Both could pressure future revenue and increase costs.

    These are new competitive and legal threats that could weigh on Amgen's stock.

June 2026
▲2▼2

Amgen's growth drivers offset legal and regulatory setbacks

  • Growth drivers now 70% of sales Amgen's key growth drugs (Repatha, rare disease) grew 24% and now make up 70% of total sales, offsetting declines in older drugs. This shows the company's transition is working, which supports the stock price.

    This is the core positive force behind Amgen's business momentum.

  • MariTide and Repatha data advance Amgen's obesity drug MariTide is in phase 3 trials, and Repatha cut heart events by 29% in high-risk diabetes patients. These could become major new revenue sources, lifting future earnings expectations.

    Pipeline progress is a key driver of long-term growth and investor optimism.

  • Tavneos regulatory and data integrity crisis EU regulators recommend revoking Tavneos approval, and NEJM retracted the trial supporting it after FDA found data issues. The FDA may withdraw the drug in the US. This creates uncertainty and could hurt Amgen's reputation and sales.

    This is a major negative regulatory event that threatens a marketed drug and investor confidence.

  • Competition and patent risks Roche's divarasib beat Amgen's Lumakras in lung cancer, threatening Lumakras sales. Also, a jury found Amgen willfully infringed a patent, raising legal concerns. Both could pressure future revenue and increase costs.

    These are new competitive and legal threats that could weigh on Amgen's stock.

▲2▼2

Amgen's growth drivers offset legal and regulatory setbacks

  • Growth drivers now 70% of sales Amgen's key growth drugs (Repatha, rare disease) grew 24% and now make up 70% of total sales, offsetting declines in older drugs. This shows the company's transition is working, which supports the stock price.

    This is the core positive force behind Amgen's business momentum.

  • MariTide and Repatha data advance Amgen's obesity drug MariTide is in phase 3 trials, and Repatha cut heart events by 29% in high-risk diabetes patients. These could become major new revenue sources, lifting future earnings expectations.

    Pipeline progress is a key driver of long-term growth and investor optimism.

  • Tavneos regulatory and data integrity crisis EU regulators recommend revoking Tavneos approval, and NEJM retracted the trial supporting it after FDA found data issues. The FDA may withdraw the drug in the US. This creates uncertainty and could hurt Amgen's reputation and sales.

    This is a major negative regulatory event that threatens a marketed drug and investor confidence.

  • Competition and patent risks Roche's divarasib beat Amgen's Lumakras in lung cancer, threatening Lumakras sales. Also, a jury found Amgen willfully infringed a patent, raising legal concerns. Both could pressure future revenue and increase costs.

    These are new competitive and legal threats that could weigh on Amgen's stock.

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