Pipeline catalysts hold key to Amgen's growth
AMGN•Amgen posted an 8% increase in third-quarter sales, driven by newer medicines and cholesterol drug Repatha, while sales of some older drugs fell sharply. Analysts highlighted upcoming late-stage trial results for dazodalibep and obesity drug MariTide as potential catalysts.
1. Pipeline in focus
Analysts pointed to Amgen's late-stage pipeline as a key focus, including trial results for experimental Sjogren's disease treatment dazodalibep and obesity drug MariTide. J.P. Morgan also called cancer drug Imdelltra a potential $5 billion-plus asset; Jefferies said the base business remains strong, while TD Cowen cited the commercial growth portfolio and late-stage pipeline.
