BGNE - Amgen Is Making 3 Big Bets -- Will They Pay Off for Investors?
Amgen (NASDAQ: AMGN) beat Wall Street's earnings estimate with its fourth-quarter results. But the big biotech's 2020 outlook underwhelmed. Amgen expects to deliver modest earnings growth and return to revenue growth, but it wasn't enough to impress investors.
During Amgen's quarterly conference call on Thursday, the company's management talked about plans to move past what they called the "transition year" of 2019, a reference to the challenges the company faced with several of its older drugs facing biosimilar and generic competition. Their comments focused to a large extent on three big bets that Amgen is making to drive future growth. What are these bets -- and will they pay off for investors?
Image source: Getty Images.