AMGN - Amgen: You Haven't Seen Anything Yet
2024-06-17 11:30:03 ET
Summary
- Amgen continues to delight investors with the growth in sales of its key blockbusters and the expansion of its portfolio of medications.
- In mid-June, Amgen pleased investors by announcing that the FDA had approved Blincyto to treat certain patients with B-precursor acute lymphoblastic leukemia.
- Ten days earlier, the company released promising results from a Phase 3 clinical trial evaluating Uplizna's efficacy in treating Immunoglobulin G4-related disease.
- In addition to strong year-on-year revenue growth, the company also has an attractive rate of increase in its dividend payments.
- As a result, I'm initiating coverage of Amgen with a "buy" rating.
Amgen Inc. ( AMGN ) is one of the largest biopharmaceutical companies in the world, and it has been rapidly increasing its share of the global oncology medications market in recent years.
Investment thesis
The day after the company released its first-quarter 2024 financial results in early May, its share price rose more than 15%. In my opinion, the growth of Amgen's investment attractiveness in recent weeks is directly related to the successful integration of Horizon Therapeutics' business, which was acquired after lengthy proceedings with the US Federal Trade Commission, as well as significant progress in the development of MariTide, which has demonstrated extremely high efficacy in the fight against obesity....
Amgen: You Haven't Seen Anything Yet