2024-01-22 16:18:02 ET
Summary
- Amgen's stock price has surged, driven by strategic acquisitions, a diverse medical portfolio, and a focus on AI innovation, positioning it for substantial long-term growth.
- Amgen's strong performance stems from its diverse presence in general medicine, oncology, inflammation, and a thriving rare disease business unit.
- It also sees opportunities in biosimilars, obesity drugs, and AI capabilities, paving the road for consistent growth.
Introduction
Last year, I started covering drug manufacturing giant Amgen Inc. ( AMGN ) .
On June 30, I wrote an article titled "Amgen: A Healthcare Bargain With A 4% Yield." Since then, shares are up 41%, beating the 9.5% performance of the S&P 500 (SP500) by a wide margin.
This rally restored the company's longer-term performance, as it is now up 240% over the past ten years (including dividends). This beats the strong performances of the S&P 500 and the Health Care Select Sector SPDR Fund ETF ( XLV )....
Read the full article on Seeking Alpha
For further details see:
Up 40%, 3%-Yielding Amgen Is Still One Of My Favorite Healthcare Stocks