Viking Therapeutics vs Amgen: why the prices moved differently

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

Viking Therapeutics Inc (VKTX)

Q3 20266 Jul – 24 Sep 2026

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Viking's VK2735 shines, but cash burn and dilution weigh

VK2735 efficacy and dosing VK2735 showed 22% weight loss and up to 97% maintained on less-frequent dosing, strong efficacy plus convenience that positions it against Lilly and Novo.
This is the key new clinical data that drove optimism in the quarter.
Takeover speculation Vertex's $10B Crinetics deal fueled takeover speculation, and an unsettled oral GLP-1 market keeps Viking's pipeline valuable.
This new external event increased investor interest in Viking as a potential acquisition target.
Widening losses and dilution Q2 net loss widened to $128.1M as R&D surged, and an upsized $500M stock and convertible note offering raises dilution concerns.
These new financial developments create a real counterweight to the positive pipeline news.
Long wait and valuation divide Phase 3 data remain years away, and analyst valuations diverge wildly ($92.72 vs. $14.02). Cash burn and funding needs will likely overhang the stock until VK2735 reaches market.
This highlights the ongoing uncertainty and long timeline that keep the stock volatile.

August 20266 Aug – 24 Sep 2026

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Viking's VK2735 data wows, but $500M raise dilutes

VK2735 maintenance data: 22% weight loss, up to 97% kept on less-frequent dosing Viking reported that its obesity drug VK2735 produced 22% weight loss and patients kept up to 97% of it when switched to every-other-week shots (90% monthly), versus 61% on placebo. This is the big driver: strong efficacy plus a more convenient schedule makes the drug a real contender against Lilly and Novo, lifting hopes for future sales and partnership or buyout interest.
This is the single biggest new event moving VKTX, directly boosting its competitive position and long-term value.
Upsized $500M stock and convertible note offering raises dilution worries Viking priced an upsized raise: 7.85 million shares at $35 plus $225 million of convertible notes, up from $200 million each. The cash funds VK2735 and VK3019 trials, but selling new shares dilutes existing owners and the convertible notes could dilute later. This is the main counterweight to the good data.
It is the key new financing event that pressures the stock by diluting current shareholders.
Big pharma GLP-1 race leaves room for Viking Lilly's Mounjaro and Zepbound sales surged while Novo's Ozempic and Wegovy stalled, and Lilly's oral pill Foundayo is just starting. Viking's oral VK2735 phase 3 is planned for late 2026. A fast-growing market with an unsettled oral segment keeps Viking's pipeline valuable, supporting the stock.
It shows the competitive landscape that makes Viking's oral and injectable programs strategically valuable.
Cash burn and capital needs remain the overhang Viking used about $96 million last quarter and cash fell to $502 million from $706 million. Management says cash lasts into 2028, but the new raise confirms trials are expensive. Until VK2735 reaches market, funding needs and dilution risk will keep weighing on the stock even as data improves.
It explains the persistent financial pressure that offsets clinical optimism for VKTX.

Latest6 Aug – 24 Sep 2026

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Viking's VK2735 data wows, but $500M raise dilutes

VK2735 maintenance data: 22% weight loss, up to 97% kept on less-frequent dosing Viking reported that its obesity drug VK2735 produced 22% weight loss and patients kept up to 97% of it when switched to every-other-week shots (90% monthly), versus 61% on placebo. This is the big driver: strong efficacy plus a more convenient schedule makes the drug a real contender against Lilly and Novo, lifting hopes for future sales and partnership or buyout interest.
This is the single biggest new event moving VKTX, directly boosting its competitive position and long-term value.
Upsized $500M stock and convertible note offering raises dilution worries Viking priced an upsized raise: 7.85 million shares at $35 plus $225 million of convertible notes, up from $200 million each. The cash funds VK2735 and VK3019 trials, but selling new shares dilutes existing owners and the convertible notes could dilute later. This is the main counterweight to the good data.
It is the key new financing event that pressures the stock by diluting current shareholders.
Big pharma GLP-1 race leaves room for Viking Lilly's Mounjaro and Zepbound sales surged while Novo's Ozempic and Wegovy stalled, and Lilly's oral pill Foundayo is just starting. Viking's oral VK2735 phase 3 is planned for late 2026. A fast-growing market with an unsettled oral segment keeps Viking's pipeline valuable, supporting the stock.
It shows the competitive landscape that makes Viking's oral and injectable programs strategically valuable.
Cash burn and capital needs remain the overhang Viking used about $96 million last quarter and cash fell to $502 million from $706 million. Management says cash lasts into 2028, but the new raise confirms trials are expensive. Until VK2735 reaches market, funding needs and dilution risk will keep weighing on the stock even as data improves.
It explains the persistent financial pressure that offsets clinical optimism for VKTX.

July 20266 Jul – 30 Jul 2026

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Viking's Obesity Pipeline Advances, But Cash Burn and Valuation Risks Loom

VK2735 Phase 2 Shows Rapid Weight Loss, Phase 3 Data Years Away VK2735 delivered mid-teens percentage weight loss in 13 weeks, faster than oral rivals. Phase 3 results are due mid-to-late 2027, with oral data in 2028-2029. This keeps the potential $100 billion market in play, supporting Viking's valuation, but the long timeline means no near-term revenue.
This is the core clinical update that drives Viking's long-term value and investor optimism.
Vertex's $10B Crinetics Deal Fuels Takeover Speculation for Viking Vertex's acquisition of Crinetics for $10 billion has reignited M&A interest in obesity drugmakers. Viking, with its late-stage VK2735 and early VK3019, is seen as a prime target. A buyout could offer a premium, but any deal depends on upcoming data and remains speculative.
M&A speculation can significantly boost Viking's stock price by implying a potential buyout premium.
Q2 2026 Net Loss Widens to $128.1 Million as R&D Spending Surges Viking reported a $128.1 million net loss, more than double last year's, with R&D expenses up to $115.8 million. Cash fell to $502 million from $706 million. This rising cash burn increases the risk of future dilution or financing, pressuring the stock.
The widening loss and shrinking cash highlight the financial strain of funding late-stage trials, a key risk for a pre-revenue company.
Analyst Valuation Gap: 120% Undervalued vs. DCF Overvalued One analyst narrative sees Viking 120% undervalued at $92.72 per share, while a DCF model suggests it's overvalued at $14.02. This huge discrepancy reflects uncertainty over pipeline success and funding needs, making the stock volatile and hard to value.
The stark valuation divide shows the market's uncertainty about Viking's prospects, which can cause sharp price swings.

6 Jul – 30 Jul 2026

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Viking's Obesity Pipeline Advances, But Cash Burn and Valuation Risks Loom

VK2735 Phase 2 Shows Rapid Weight Loss, Phase 3 Data Years Away VK2735 delivered mid-teens percentage weight loss in 13 weeks, faster than oral rivals. Phase 3 results are due mid-to-late 2027, with oral data in 2028-2029. This keeps the potential $100 billion market in play, supporting Viking's valuation, but the long timeline means no near-term revenue.
This is the core clinical update that drives Viking's long-term value and investor optimism.
Vertex's $10B Crinetics Deal Fuels Takeover Speculation for Viking Vertex's acquisition of Crinetics for $10 billion has reignited M&A interest in obesity drugmakers. Viking, with its late-stage VK2735 and early VK3019, is seen as a prime target. A buyout could offer a premium, but any deal depends on upcoming data and remains speculative.
M&A speculation can significantly boost Viking's stock price by implying a potential buyout premium.
Q2 2026 Net Loss Widens to $128.1 Million as R&D Spending Surges Viking reported a $128.1 million net loss, more than double last year's, with R&D expenses up to $115.8 million. Cash fell to $502 million from $706 million. This rising cash burn increases the risk of future dilution or financing, pressuring the stock.
The widening loss and shrinking cash highlight the financial strain of funding late-stage trials, a key risk for a pre-revenue company.
Analyst Valuation Gap: 120% Undervalued vs. DCF Overvalued One analyst narrative sees Viking 120% undervalued at $92.72 per share, while a DCF model suggests it's overvalued at $14.02. This huge discrepancy reflects uncertainty over pipeline success and funding needs, making the stock volatile and hard to value.
The stark valuation divide shows the market's uncertainty about Viking's prospects, which can cause sharp price swings.

Q2 202623 Jun – 3 Jul 2026

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Viking's Obesity Pipeline Advances as Medicare Coverage Boosts Sector

Medicare GLP-1 Bridge coverage begins Starting July 1, 2026, Medicare's GLP-1 Bridge program covers anti-obesity drugs like Wegovy and Zepbound. This expands the market for weight-loss treatments, boosting demand expectations for Viking's VK2735 if approved. The news helped extend Viking's stock winning streak to eight days.
New Medicare coverage directly expands the addressable market for Viking's obesity drug, a key demand driver.
VK3019 enters first human trial Viking started a Phase 1 trial of VK3019, a new class of weight-loss drug using a different mechanism than GLP-1s. This expands the pipeline beyond VK2735, potentially offering another growth driver. However, it adds development costs for a pre-revenue company.
New clinical milestone for a second obesity candidate diversifies Viking's pipeline and future revenue potential.
VK2735 Phase 3 data expected 2027 Viking's lead obesity drug VK2735 is in Phase 3 trials, with top-line data expected no earlier than 2027. Phase 2 results showed up to 14.7% weight loss, competitive but behind rivals like Eli Lilly's retatrutide (28.3%). Success could unlock a $100 billion market.
The timing and potential of VK2735's Phase 3 data are central to Viking's valuation and investor expectations.
Stock gained 19.2% in June on pipeline optimism Viking shares rose 19.2% in June as investors grew optimistic about the weight-loss pipeline. The rally was fueled by Phase 2 results, pipeline advancements, and sector tailwinds. However, the stock remains volatile and high-risk, with no approved products yet.
Summarizes the period's strong stock performance and the underlying drivers, giving a big-picture view.

June 202623 Jun – 3 Jul 2026

▲4

Viking's Obesity Pipeline Advances as Medicare Coverage Boosts Sector

Medicare GLP-1 Bridge coverage begins Starting July 1, 2026, Medicare's GLP-1 Bridge program covers anti-obesity drugs like Wegovy and Zepbound. This expands the market for weight-loss treatments, boosting demand expectations for Viking's VK2735 if approved. The news helped extend Viking's stock winning streak to eight days.
New Medicare coverage directly expands the addressable market for Viking's obesity drug, a key demand driver.
VK3019 enters first human trial Viking started a Phase 1 trial of VK3019, a new class of weight-loss drug using a different mechanism than GLP-1s. This expands the pipeline beyond VK2735, potentially offering another growth driver. However, it adds development costs for a pre-revenue company.
New clinical milestone for a second obesity candidate diversifies Viking's pipeline and future revenue potential.
VK2735 Phase 3 data expected 2027 Viking's lead obesity drug VK2735 is in Phase 3 trials, with top-line data expected no earlier than 2027. Phase 2 results showed up to 14.7% weight loss, competitive but behind rivals like Eli Lilly's retatrutide (28.3%). Success could unlock a $100 billion market.
The timing and potential of VK2735's Phase 3 data are central to Viking's valuation and investor expectations.
Stock gained 19.2% in June on pipeline optimism Viking shares rose 19.2% in June as investors grew optimistic about the weight-loss pipeline. The rally was fueled by Phase 2 results, pipeline advancements, and sector tailwinds. However, the stock remains volatile and high-risk, with no approved products yet.
Summarizes the period's strong stock performance and the underlying drivers, giving a big-picture view.

23 Jun – 3 Jul 2026

▲4

Viking's Obesity Pipeline Advances as Medicare Coverage Boosts Sector

Medicare GLP-1 Bridge coverage begins Starting July 1, 2026, Medicare's GLP-1 Bridge program covers anti-obesity drugs like Wegovy and Zepbound. This expands the market for weight-loss treatments, boosting demand expectations for Viking's VK2735 if approved. The news helped extend Viking's stock winning streak to eight days.
New Medicare coverage directly expands the addressable market for Viking's obesity drug, a key demand driver.
VK3019 enters first human trial Viking started a Phase 1 trial of VK3019, a new class of weight-loss drug using a different mechanism than GLP-1s. This expands the pipeline beyond VK2735, potentially offering another growth driver. However, it adds development costs for a pre-revenue company.
New clinical milestone for a second obesity candidate diversifies Viking's pipeline and future revenue potential.
VK2735 Phase 3 data expected 2027 Viking's lead obesity drug VK2735 is in Phase 3 trials, with top-line data expected no earlier than 2027. Phase 2 results showed up to 14.7% weight loss, competitive but behind rivals like Eli Lilly's retatrutide (28.3%). Success could unlock a $100 billion market.
The timing and potential of VK2735's Phase 3 data are central to Viking's valuation and investor expectations.
Stock gained 19.2% in June on pipeline optimism Viking shares rose 19.2% in June as investors grew optimistic about the weight-loss pipeline. The rally was fueled by Phase 2 results, pipeline advancements, and sector tailwinds. However, the stock remains volatile and high-risk, with no approved products yet.
Summarizes the period's strong stock performance and the underlying drivers, giving a big-picture view.

Amgen Inc (AMGN)

Q3 20268 Jul – 14 Sep 2026

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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 20267 Sep – 14 Sep 2026

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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.

Latest7 Sep – 14 Sep 2026

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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 202629 Jul – 3 Sep 2026

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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.

8 Aug – 3 Sep 2026

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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.

29 Jul – 6 Aug 2026

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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 20268 Jul – 23 Jul 2026

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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.

8 Jul – 23 Jul 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.

Q2 202618 Jun – 3 Jul 2026

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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 202618 Jun – 3 Jul 2026

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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.

18 Jun – 3 Jul 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.