Street View: Amgen builds momentum with blockbusters, biosimilars and a pipeline in waiting
AMGN•Second-quarter revenue rises on key drug demand
Biotech firm Amgen AMGN.O reported a 9% increase in second-quarter revenue, fueled by strong demand for its cholesterol treatment Repatha, osteoporosis drug Evenity, and rare-disease therapies, while the company continues advancing the development of its experimental obesity drug MariTide.
Shares were marginally up in pre-market trade.
Analysts see growth supported by pipeline and biosimilars
Truist Securities ("hold," PT: $362) believes 2026 could be a key growth year for AMGN, driven by products including Repatha, Evenity, Tezspire (asthma drug), its oncology portfolio, rare-disease drugs and biosimilars.
Piper Sandler ("overweight," PT: $427) says strong growth in key drugs Repatha, Tezspire and Evenity, along with expanding uptake of newer medicines such as Uplizna (autoimmune diseases), should help AMGN offset upcoming patent expiry and support continued growth.
Oppenheimer ("outperform," PT: $450) says increasing adoption of Repatha after the Vesalius outcome study supports AMGN's cardiovascular strategy and could create synergies with olpasiran and MariTide.
TD Cowen ("buy," PT: $452) believes AMGN's commercial pipeline is well positioned to sustain growth despite looming patent expiry date and pricing headwinds.
