Amgen is a leading biotechnology company that focuses on the development, manufacturing, and commercialization of innovative therapeutic solutions to treat serious illnesses
The company leverages its advanced science and research capabilities to create biologic therapies that target various medical conditions, including cancer, kidney disease, and rheumatoid arthritis. Through a commitment to scientific excellence, Amgen aims to enhance patient care by providing effective treatments that improve health outcomes and quality of life. Additionally, the company engages in extensive research collaborations and partnerships, further advancing its mission to deliver groundbreaking therapies to patients around the world.
Amgen and AstraZeneca's Tezspire showed significant reductions in nasal polyp severity, congestion, and surgery need in CRSwNP patients in the Phase 3 WAYPOINT trial.
Many of the top-performing stocks and assets in recent years have stumbled at the start of 2025, with Bitcoin (CRYPTO: BTC) dropping to a three-month low.
Lilly’s fiercest competitor in the obesity market is Novo Nordisk, which offers Ozempic and Wegovy. However, rising threats from other players such as Hims & Hers, Amgen, and Viking Therapeutics also exist.
Shares of biotech company Amgen (NASDAQAMGN)
jumped 5.3% in the afternoon session after the company reported strong fourth-quarter results. Amgen exceeded analysts' revenue expectations this quarter, and its full-year revenue guidance came in slightly higher than Wall Street's estimates.
On the other hand, its full-year EPS guidance slightly missed, and its EPS was in line with Wall Street's estimates.
Overall, this quarter was mixed with better-than-anticipated sales but mediocre profitability. The market seemed to focus on the sales, and the stock traded up as a result.
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Wall Street rose on Wednesday, with all major equity indices advancing as investors assessed the latest batch of corporate earnings and drew optimism from positive labor market data.
Amgen posted Q4 sales of $9.1 billion, up 11%, surpassing forecasts. EPS beat estimates, and analysts remain optimistic about growth prospects in 2025.
