Amgen (NASDAQ:AMGN) announced growth initiatives, late-stage pipeline developments, and a capital-allocation strategy during a Morgan Stanley conference. Newly appointed CFO Thomas Dittrich reported a 10% year-over-year increase in total quarterly revenue, surpassing $10 billion, driven by six key growth products that collectively grew 26% and accounted for nearly 70% of product sales.
Dittrich highlighted the company’s focus on innovation funding and maximizing patient access. Phase III results from DeLLphi-305 demonstrated significant improvements in survival rates for IMDELLTRA in extensive-stage small-cell lung cancer, aiming to address approximately 28,000 U.S. patients. Additionally, Amgen showed positive phase III outcomes for TEZSPIRE and TEPEZZA in various conditions.
On biosimilars, Amgen is launching candidates targeting prominent drugs like KEYTRUDA, with ABP 234 meeting its clinical endpoints and regulatory submission anticipated in the second half of the year. Ongoing discussions about drug pricing and U.S. manufacturing incentives are also part of Amgen’s strategic focus as it engages with policymakers ahead of the midterm elections.
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