← Ionis Pharmaceuticals overview

Ionis Pharmaceuticals vs Amgen: why the prices moved differently

Weekly · monthly · quarterly news summaries, side by side in time

Ionis Pharmaceuticals Inc (IONS)

Q3 2026
▲2▼2

Ionis Q3: New Drug Launches and Partner Wins Offset by Trial Failures

  • Tryngolza Approval and Self-Launch Ionis won FDA approval for Tryngolza to treat severely high triglycerides and launched it on its own, a first for the company. This adds a new revenue stream and shows it can sell drugs directly.

    This is a major new product launch that directly boosts revenue potential.

  • Zanvastro Approval and Partner Successes FDA approved Zanvastro for Alexander disease, and partner drugs sefaxersen and ulefnersen met key Phase 3 goals. These validate Ionis' RNA technology and bring milestone payments and royalties.

    These approvals and trial wins confirm the platform and add near-term cash.

  • Multiple Clinical Trial Failures Several Phase 3 and Phase 2 trials failed, including eplontersen, Wainua, Roche's Huntington's programs, and diranersen. These setbacks raise doubts about the pipeline and future revenue.

    Trial failures directly hurt investor confidence and future prospects.

  • Fraud Investigations and Competitive Pressures Securities fraud investigations into Wainua disclosures and competition from Arrowhead's plozasiran weighed on the stock. Also, Novartis' pelacarsen failed a Phase 3 heart trial, casting doubt on RNA silencer technology.

    Legal and competitive risks add uncertainty and could slow growth.

September 2026
▲3▼1

Ionis pipeline wins offset partner trial failure

  • FDA approves Zanvastro for Alexander disease The FDA approved Zanvastro (zilganersen), the first-ever treatment for Alexander disease, validating Ionis' RNA-targeting platform and adding a new revenue stream. This is a major milestone for the company.

    This is a new approval that directly boosts Ionis' revenue potential and validates its technology.

  • Partner Roche's sefaxersen meets Phase 3 goal Partner Roche's sefaxersen met its Phase 3 goal in IgA nephropathy, earning Ionis milestones and royalties. This success demonstrates the broad potential of Ionis' RNA-targeting platform beyond its own drugs.

    This is a new positive clinical result that brings financial benefits and platform validation.

  • Ulefnersen succeeds in FUS-ALS Ulefnersen succeeded in FUS-ALS, another pipeline win that earns milestones and royalties. This further supports the platform's versatility and potential in different diseases.

    This is a new clinical success that adds to the positive momentum and financial upside.

  • Novartis' pelacarsen fails Phase 3 heart trial Partner Novartis' pelacarsen failed its Phase 3 heart trial, removing a potential blockbuster and briefly dropping shares 6.18%. Analysts saw limited financial impact, but it raised doubts about RNA silencer technology.

    This is a new negative event that weighed on sentiment and highlights risks in the pipeline.

Latest
▲2

Ionis turns the corner: two Phase 3 wins revive pipeline after setbacks

  • Sefaxersen hits Phase 3 goal in IgA nephropathy Partner Roche reported that sefaxersen met its main Phase 3 goal in IgA nephropathy, a kidney disease, with strong protein reductions and no new safety issues. Ionis gets milestone payments and royalties, and the win shows its RNA technology works in a large market.

    This is a new clinical win that directly lifts confidence in Ionis's platform and future royalty revenue.

  • Ulefnersen succeeds in rare FUS-ALS Ionis and Otsuka said ulefnersen met its main late-stage goal in FUS-ALS, a rare inherited form of ALS, improving function and survival. No approved treatment targets this genetic cause, and they will seek accelerated approval. Ionis earns milestones and royalties.

    A second new Phase 3 success in a different disease area broadens the pipeline and adds another potential revenue stream.

▼3▲1

FDA approval for Zanvastro offset by pelacarsen trial failure

  • FDA approves Zanvastro, first Alexander disease treatment The FDA approved Ionis' Zanvastro (zilganersen) as the first-ever treatment for Alexander disease, a rare neurological condition. This is a new commercial product and validates Ionis' RNA-targeting platform, giving the company a new revenue stream and lifting investor confidence.

    This is a major new approval that directly boosts Ionis' revenue prospects and pipeline credibility.

  • Partner Novartis' pelacarsen fails Phase 3 heart trial Novartis' pelacarsen, discovered by Ionis and licensed to Novartis, failed its Phase 3 Lp(a)HORIZON trial. It lowered Lp(a) but did not reduce cardiovascular events. Ionis shares fell 6.18% after hours. This is a setback for a partnered asset and raises doubts about the Lp(a) approach.

    This is the main negative event of the period, directly hitting Ionis' pipeline and stock price.

  • Analysts see limited financial impact from pelacarsen failure BofA and Citi analysts said the pelacarsen failure has low-single-digit downside for Ionis and should not affect 2026 guidance. Citi maintains a Buy rating and $100 target. This suggests the market may be overreacting, but the failure still removes a potential blockbuster.

    It provides context on the financial materiality of the pelacarsen failure, helping investors gauge the real impact.

  • Wainua Phase 3 failure in ATTR-CM adds to RNA silencer doubts Full Phase 3 data for Wainua (with AstraZeneca) failed to meet its primary goal in ATTR-CM. An analyst said oral stabilizers may be superior to subcutaneous silencers. This hurts Alnylam and has negative read-through for Ionis' RNA silencer technology.

    It is a separate negative trial result that questions the broader RNA silencer approach Ionis uses.

July 2026
▲2▼2

Ionis mixed: Tryngolza approval offset by trial failures

  • Tryngolza FDA approval and self-launch The FDA approved Tryngolza for severe high triglycerides, cutting levels up to 72%, and Ionis began selling it itself in July. This opens a new revenue stream and shows the company can launch its own drug.

    A major new product approval and launch is a key positive force for the stock.

  • Q2 earnings beat and guidance reaffirmed Ionis reported better-than-expected second-quarter results and kept its full-year guidance unchanged. This reassured investors about the company's financial health despite recent setbacks.

    Earnings beat and reaffirmed guidance support investor confidence.

  • Multiple Phase 3 and Phase 2 trial failures Eplontersen and Wainua failed Phase 3 heart trials, Roche dropped two partnered Huntington's programs, and diranersen missed its Phase 2 Alzheimer's endpoint. These failures erased major hoped-for revenue and sent shares down sharply.

    Clinical failures are the main negative driver, wiping out key pipeline value.

  • Legal investigations and competitive threat Securities fraud investigations into Wainua disclosures add legal uncertainty. Meanwhile, Arrowhead's rival plozasiran showed stronger triglyceride data, threatening future market share for Tryngolza.

    Legal risk and competitive pressure weigh on the stock and future sales.

▲2▼1

Ionis beats Q2, but rival lipid data and legal probes weigh

  • Q2 earnings beat and guidance reaffirmed Ionis reported a smaller-than-expected loss and higher revenue, and kept its 2026 sales and loss forecasts unchanged. That tells investors the core business is on track, which supports the stock even after recent trial setbacks.

    This is the period's main new positive fundamental event and directly counters the negative narrative.

  • Arrowhead's rival lipid drug succeeds, pressuring Ionis Arrowhead's plozasiran cut triglycerides by about 80% in a late-stage trial, beating Ionis's competing olezarsen. If approved, it could take market share in the same severe high-triglyceride market, making Ionis's future sales outlook less certain.

    This is a new competitive threat that directly affects Ionis's key growth market.

  • ARK ETF buys $15.3 million of Ionis shares Cathie Wood's ARK fund bought $15.3 million of Ionis stock after the trial-driven selloff. A well-known investor stepping in can steady sentiment and signal that some see the drop as overdone, though it does not change the company's fundamentals.

    This is a new capital-flow signal that helps explain the stock's stabilization after the crash.

▼3▲1

Ionis hit by trial failures and legal probes, but pipeline and licensing advance

  • Wainua heart trial failure and Roche's Huntington's exit Ionis and AstraZeneca's Wainua failed a Phase 3 heart trial, and Roche scrapped two partnered Huntington's programs. Shares fell about 29% in two days, wiping out a large expected revenue source and shaking confidence in the pipeline.

    This is the biggest new negative event, directly causing a sharp price drop and removing a major future revenue driver.

  • Securities fraud investigations launched Law firms Hagens Berman and Pomerantz are investigating whether Ionis misled investors about the Wainua trial's design and prospects. Legal uncertainty can pressure the stock and distract management, even if no charges are filed.

    New legal probes add a fresh layer of risk and uncertainty that can weigh on the stock price.

  • Alzheimer's drug misses primary endpoint in Phase 2 Biogen and Ionis's diranersen missed its main goal in a mid-stage Alzheimer's trial, though it showed some benefit on secondary measures. The miss is a setback for a partnered pipeline asset, but Phase 3 plans continue.

    This is a new clinical disappointment that adds to negative sentiment around Ionis's partnered programs.

  • Zilganersen licensed to Recordati and Angelman enrollment complete Ionis licensed zilganersen for Alexander disease outside the U.S. to Recordati for $30 million upfront plus royalties, and completed enrollment in the pivotal Phase 3 trial for its Angelman syndrome drug. These show pipeline progress and bring in cash.

    These are new positive developments that highlight Ionis's pipeline strength and near-term revenue potential, offering a counterweight to the negative news.

▼2▲1

Ionis wins first big approval but heart drug trial fails

  • FDA approves Tryngolza for severe high triglycerides The FDA approved Tryngolza as the first treatment for severe hypertriglyceridemia, a condition affecting nearly 3 million Americans. It cuts triglycerides up to 72% and pancreatitis risk up to 91%. Ionis will launch it itself in July, opening a large new market and potential revenue stream.

    This is a major new approval that expands Ionis's commercial opportunity and drives the stock up.

  • Eplontersen fails Phase 3 ATTR-CM trial Ionis and AstraZeneca's eplontersen missed its primary endpoint in the CARDIO-TTRansform trial for ATTR-CM, a heart condition. The drug failed to reduce cardiovascular deaths or events. This removes a large expected revenue opportunity and caused Ionis shares to drop sharply.

    This is a major clinical failure that directly hurts Ionis's growth prospects and stock price.

  • Ionis stock plunges on eplontersen news Following the trial failure, Ionis shares fell as much as 19% intraday. The setback also lifted rival ATTR-CM drugs from Alnylam and BridgeBio, highlighting lost competitive ground. The full data will be presented in August, but the primary endpoint miss is a clear negative.

    This shows the immediate market reaction and competitive impact of the trial failure.

Amgen Inc (AMGN)

Q3 2026
▲3▼1

Amgen Q3: pipeline wins offset obesity and competition setbacks

  • Court blocks Colorado Enbrel price cap A court blocked Colorado's 70% price cap on Enbrel, protecting a key Amgen drug from a steep revenue cut. This legal win removes a major overhang and supports future sales.

    This is a new positive legal development that directly affects Amgen's revenue and stock sentiment.

  • Q2 earnings beat and raised guidance Amgen reported Q2 earnings per share of $6.29, beating expectations of about $5.60, and raised its full-year guidance. Growth products reached 70% of sales, showing the company's transition is working.

    This is a new positive financial update that exceeded expectations and boosted investor confidence.

  • Pipeline successes across multiple drugs Repatha cut mortality risk by 20%, Tezspire and dazodalibep showed positive results, and IMDELLTRA delivered landmark lung-cancer survival benefit with easier FDA monitoring. These advances strengthen Amgen's future revenue prospects.

    These are new clinical and regulatory wins that could drive future growth and lift earnings expectations.

  • Obesity hopes fade and competition rises Amgen discontinued its obesity drug AMG 513, and Novartis' pelacarsen failure cast doubt on Amgen's olpasiran, sinking shares about 10% and prompting a BMO downgrade. Meanwhile, Merck's cheaper oral PCSK9 and BMS's Sotyktu threaten Repatha and Otezla.

    This is a new negative development that hurt investor sentiment and the stock price, representing a key setback.

August 2026
▲3▼1

Amgen Q2 Beat and Pipeline Wins Lift Stock, But Risks Linger

  • Q2 earnings beat and raised guidance Amgen's Q2 2026 earnings beat expectations (EPS $6.29 vs. ~$5.60) and management raised full-year guidance, prompting analysts to lift price targets to $420–$460. This shows the company is performing better than expected and boosts investor confidence.

    This is the primary new event that drove the stock higher during the period.

  • Growth products now 70% of sales Repatha, Evenity, Uplizna, and Imdelltra grew 26% and now make up about 70% of Amgen's sales, reducing reliance on older drugs. This shift makes future revenue more stable and less exposed to patent cliffs.

    It highlights a fundamental improvement in Amgen's business mix that supports the stock.

  • Pipeline successes and cash from sale-leaseback Repatha cut death risk 20% in a major heart trial, Tezspire succeeded in eosinophilic esophagitis, and dazodalibep hit its Phase 3 goal in Sjögren's. A $151M Deerfield sale-leaseback added cash. These advances strengthen future growth prospects.

    These are new positive developments that could drive future revenue and cash flow.

  • Cyberattack, obesity setback, and drug-price risk A July cyberattack exposed patient data and triggered a class action investigation. Obesity hopes weakened after AMG 513 was discontinued, leaving MariTide trailing Lilly and Novo. A potential US drug-price agreement could pressure Medicaid revenue.

    These are new negative factors that could weigh on the stock and offset positive news.

Latest
▲4

Amgen Beats Q2, Wins Sjögren's Data, Sells Deerfield Campus

  • Q2 earnings beat lifts Amgen shares Amgen reported adjusted Q2 earnings of $6.29 per share, beating the $5.60 estimate, and shares rose 4.6%. Revenue also beat, showing the core business is growing faster than expected. This supports the stock because profits are the main driver of long-term value.

    The Q2 earnings beat is the period's biggest positive fundamental event and directly explains why AMGN moved up.

  • Positive Phase 3 data for dazodalibep in Sjögren's Amgen's dazodalibep met its main goal in a Phase 3 trial for systemic Sjögren's disease, a condition with no approved disease-modifying therapies. Success here adds a potential first-in-class drug to Amgen's pipeline, which can boost future sales and investor confidence.

    This is a new pipeline win that adds a future growth driver and supports the bull case for AMGN.

  • Deerfield campus sale-leaseback raises $151M cash Amgen sold its Deerfield office campus for $151 million and signed a long-term lease to stay in one building. This turns an illiquid property into cash without issuing shares or new debt, helping reduce the debt load from the Horizon acquisition. Shares rose 2.11% on the news.

    The sale-leaseback is a new capital move that improves Amgen's balance sheet and directly lifted the stock.

  • Analyst price targets raised on strong portfolio and Q2 beat Several banks including UBS, Argus, TD Cowen, Scotiabank and Oppenheimer raised Amgen price targets to $420–$460, citing a strong product portfolio, Q2 beats and higher guidance. Higher targets signal analysts see more upside, which can pull the stock up.

    The wave of target increases reflects improved analyst sentiment and is a key reason AMGN shares moved higher this period.

September 2026
▲2▼2

Novartis Lp(a) Failure Sinks Amgen; IMDELLTRA Wins Offer Counterweight

  • Novartis Lp(a) failure casts doubt on Amgen's olpasiran Novartis' rival Lp(a)-lowering drug pelacarsen failed its Phase 3 heart trial, even though it lowered Lp(a). Amgen's similar drug olpasiran now faces the same doubt, and Amgen shares fell about 10% — their worst day since 2000 — as investors fear olpasiran may also fail to prevent heart attacks.

    This is the main new force driving AMGN down this period.

  • BMO downgrades Amgen on olpasiran risk BMO Capital downgraded Amgen to Market Perform from Outperform, keeping a $450 target but warning that olpasiran now carries more risk. A downgrade tells investors the analyst sees less upside, which can push the stock down and keep a lid on any recovery.

    Analyst downgrade is a direct new negative catalyst for the stock.

  • IMDELLTRA combo shows landmark survival benefit in lung cancer Amgen's IMDELLTRA combined with AstraZeneca's Imfinzi met its main goal in a Phase 3 lung-cancer study, significantly extending overall survival. This is the first such win for a bispecific T-cell engager in this setting, boosting confidence in a key new growth drug.

    A major positive pipeline win that offsets some of the Lp(a) pessimism.

  • FDA eases IMDELLTRA monitoring, making it easier to use The FDA approved a label update cutting required monitoring after the first two IMDELLTRA doses from 22–24 hours to 6–8 hours. Shorter monitoring makes the drug simpler to give, especially in community clinics, which could widen its use and support sales.

    Regulatory win that improves commercial practicality of a growth drug.

▲2▼2

Novartis Lp(a) Failure Sinks Amgen; IMDELLTRA Wins Offer Counterweight

  • Novartis Lp(a) failure casts doubt on Amgen's olpasiran Novartis' rival Lp(a)-lowering drug pelacarsen failed its Phase 3 heart trial, even though it lowered Lp(a). Amgen's similar drug olpasiran now faces the same doubt, and Amgen shares fell about 10% — their worst day since 2000 — as investors fear olpasiran may also fail to prevent heart attacks.

    This is the main new force driving AMGN down this period.

  • BMO downgrades Amgen on olpasiran risk BMO Capital downgraded Amgen to Market Perform from Outperform, keeping a $450 target but warning that olpasiran now carries more risk. A downgrade tells investors the analyst sees less upside, which can push the stock down and keep a lid on any recovery.

    Analyst downgrade is a direct new negative catalyst for the stock.

  • IMDELLTRA combo shows landmark survival benefit in lung cancer Amgen's IMDELLTRA combined with AstraZeneca's Imfinzi met its main goal in a Phase 3 lung-cancer study, significantly extending overall survival. This is the first such win for a bispecific T-cell engager in this setting, boosting confidence in a key new growth drug.

    A major positive pipeline win that offsets some of the Lp(a) pessimism.

  • FDA eases IMDELLTRA monitoring, making it easier to use The FDA approved a label update cutting required monitoring after the first two IMDELLTRA doses from 22–24 hours to 6–8 hours. Shorter monitoring makes the drug simpler to give, especially in community clinics, which could widen its use and support sales.

    Regulatory win that improves commercial practicality of a growth drug.

▲3▼1

Amgen Hits 52-Week High on Q2 Beat, Repatha and Tezspire Wins

  • Repatha Cuts Death Risk 20% in Major Heart Trial Amgen's Repatha reduced death risk by 20% in high-risk heart patients in the VESALIUS-CV trial, a major win for its biggest growth drug. This strengthens the case for wider use and future sales, supporting a higher stock price.

    This is a new, high-impact clinical win that directly boosts confidence in Amgen's key growth driver.

  • Tezspire Meets All Goals in Eosinophilic Esophagitis Trial Amgen and AstraZeneca's Tezspire succeeded in a Phase 3 trial for eosinophilic esophagitis, a chronic throat condition with few good treatments. This opens a new market and adds to Tezspire's growth story, lifting investor optimism.

    New positive trial results expand a key product's potential, a fresh catalyst for the stock.

  • US Drug Price Agreement with Mid-Sized Biotechs Looms The Trump administration is expected to announce a drug price agreement with mid-sized biotech firms, and Amgen was among companies urged to cut US prices. If Amgen is included, lower Medicaid prices could pressure revenue and weigh on the stock.

    This is a new regulatory risk that could directly affect Amgen's pricing and profits.

  • Analyst Fair Value and Price Targets Raised After Q2 Beat Following Amgen's strong Q2 results, analysts raised their fair value estimate to about $372 and several price targets into the $450 range, citing broad franchise strength. Higher targets can pull the stock up as investors adjust expectations.

    This is a new analyst reaction that reflects upgraded expectations and can influence the stock price.

▲2▼2

Amgen Q2 Beat and Guidance Raise Outweigh Data Breach and Obesity Setback

  • Q2 earnings beat and raised 2026 guidance Amgen reported Q2 adjusted EPS of $6.29, well above the $5.62 consensus, and revenue of $10.05 billion, up 10% and ahead of forecasts. Management raised full-year revenue and EPS guidance, signaling confidence in the business. This directly boosts the stock as investors see stronger profits ahead.

    This is the main new positive event that drove the stock up over 5% this period.

  • Key growth drivers show strong momentum Six key products, including Repatha, Evenity, Uplizna, and Imdelltra, grew 26% year-over-year and now make up nearly 70% of product sales. This reduces reliance on older drugs like Enbrel and Otezla, which are facing competition. The shift supports future revenue growth and lifts investor confidence.

    It explains the underlying strength behind the earnings beat and why the stock rose.

  • Cybersecurity breach and class action investigation Amgen disclosed a July cyberattack where sensitive patient and proprietary data was stolen. A law firm has launched a class action investigation. This creates legal and reputational risk, which could weigh on the stock, though Amgen says operations are not materially affected.

    It is a new negative event that could pressure the stock and is important for a balanced view.

  • Obesity drug AMG 513 discontinued; MariTide faces tough competition Amgen ended development of early-stage obesity drug AMG 513, leaving MariTide as its only obesity candidate. MariTide's weight-loss data trails Eli Lilly's and Novo Nordisk's drugs, and switching patients may be hard. This raises doubts about Amgen's ability to compete in the lucrative obesity market.

    It is a new setback that could limit future growth and is a key counterweight to the positive earnings.

July 2026
▼3▲1

Enbrel price cap blocked, but recalls and new rivals pressure Amgen

  • Court blocks Colorado's 70% Enbrel price cap A federal judge stopped Colorado from capping Enbrel's price by 70%. This removes a big worry that other states might follow, protecting Amgen's future sales and cash flow. The stock could rise as investors see less regulatory risk.

    This is a major new legal win that directly supports Amgen's revenue outlook.

  • Recalls of Corlanor and Sensipar raise quality concerns Amgen recalled some lots of heart drug Corlanor and kidney drug Sensipar due to foreign substances and manufacturing issues. This adds compliance risk and could lead to fines or lost sales, weighing on the stock as investors question production quality.

    New recalls create fresh regulatory and reputational risk that can hurt the stock.

  • New oral PCSK9 rival threatens Repatha Merck won FDA approval for Lipfendra, the first oral cholesterol drug in the same class as Amgen's injectable Repatha. It costs much less per month, so it could steal market share and slow Repatha's growth, pressuring Amgen's revenue.

    A new lower-priced competitor directly challenges a key Amgen growth drug.

  • Sotyktu launch may take share from Otezla Bristol Myers Squibb's new oral drug Sotyktu is gaining traction among arthritis doctors, and Amgen's Otezla is cited as likely to lose patients. This could reduce Otezla sales, a negative for Amgen's earnings outlook.

    New competitive data shows a direct threat to an existing Amgen product.

▼3▲1

Enbrel price cap blocked, but recalls and new rivals pressure Amgen

  • Court blocks Colorado's 70% Enbrel price cap A federal judge stopped Colorado from capping Enbrel's price by 70%. This removes a big worry that other states might follow, protecting Amgen's future sales and cash flow. The stock could rise as investors see less regulatory risk.

    This is a major new legal win that directly supports Amgen's revenue outlook.

  • Recalls of Corlanor and Sensipar raise quality concerns Amgen recalled some lots of heart drug Corlanor and kidney drug Sensipar due to foreign substances and manufacturing issues. This adds compliance risk and could lead to fines or lost sales, weighing on the stock as investors question production quality.

    New recalls create fresh regulatory and reputational risk that can hurt the stock.

  • New oral PCSK9 rival threatens Repatha Merck won FDA approval for Lipfendra, the first oral cholesterol drug in the same class as Amgen's injectable Repatha. It costs much less per month, so it could steal market share and slow Repatha's growth, pressuring Amgen's revenue.

    A new lower-priced competitor directly challenges a key Amgen growth drug.

  • Sotyktu launch may take share from Otezla Bristol Myers Squibb's new oral drug Sotyktu is gaining traction among arthritis doctors, and Amgen's Otezla is cited as likely to lose patients. This could reduce Otezla sales, a negative for Amgen's earnings outlook.

    New competitive data shows a direct threat to an existing Amgen product.

Q2 2026
▲2▼2

Amgen's growth drivers offset legal and regulatory setbacks

  • Growth drivers now 70% of sales Amgen's key growth drugs (Repatha, rare disease) grew 24% and now make up 70% of total sales, offsetting declines in older drugs. This shows the company's transition is working, which supports the stock price.

    This is the core positive force behind Amgen's business momentum.

  • MariTide and Repatha data advance Amgen's obesity drug MariTide is in phase 3 trials, and Repatha cut heart events by 29% in high-risk diabetes patients. These could become major new revenue sources, lifting future earnings expectations.

    Pipeline progress is a key driver of long-term growth and investor optimism.

  • Tavneos regulatory and data integrity crisis EU regulators recommend revoking Tavneos approval, and NEJM retracted the trial supporting it after FDA found data issues. The FDA may withdraw the drug in the US. This creates uncertainty and could hurt Amgen's reputation and sales.

    This is a major negative regulatory event that threatens a marketed drug and investor confidence.

  • Competition and patent risks Roche's divarasib beat Amgen's Lumakras in lung cancer, threatening Lumakras sales. Also, a jury found Amgen willfully infringed a patent, raising legal concerns. Both could pressure future revenue and increase costs.

    These are new competitive and legal threats that could weigh on Amgen's stock.

June 2026
▲2▼2

Amgen's growth drivers offset legal and regulatory setbacks

  • Growth drivers now 70% of sales Amgen's key growth drugs (Repatha, rare disease) grew 24% and now make up 70% of total sales, offsetting declines in older drugs. This shows the company's transition is working, which supports the stock price.

    This is the core positive force behind Amgen's business momentum.

  • MariTide and Repatha data advance Amgen's obesity drug MariTide is in phase 3 trials, and Repatha cut heart events by 29% in high-risk diabetes patients. These could become major new revenue sources, lifting future earnings expectations.

    Pipeline progress is a key driver of long-term growth and investor optimism.

  • Tavneos regulatory and data integrity crisis EU regulators recommend revoking Tavneos approval, and NEJM retracted the trial supporting it after FDA found data issues. The FDA may withdraw the drug in the US. This creates uncertainty and could hurt Amgen's reputation and sales.

    This is a major negative regulatory event that threatens a marketed drug and investor confidence.

  • Competition and patent risks Roche's divarasib beat Amgen's Lumakras in lung cancer, threatening Lumakras sales. Also, a jury found Amgen willfully infringed a patent, raising legal concerns. Both could pressure future revenue and increase costs.

    These are new competitive and legal threats that could weigh on Amgen's stock.

▲2▼2

Amgen's growth drivers offset legal and regulatory setbacks

  • Growth drivers now 70% of sales Amgen's key growth drugs (Repatha, rare disease) grew 24% and now make up 70% of total sales, offsetting declines in older drugs. This shows the company's transition is working, which supports the stock price.

    This is the core positive force behind Amgen's business momentum.

  • MariTide and Repatha data advance Amgen's obesity drug MariTide is in phase 3 trials, and Repatha cut heart events by 29% in high-risk diabetes patients. These could become major new revenue sources, lifting future earnings expectations.

    Pipeline progress is a key driver of long-term growth and investor optimism.

  • Tavneos regulatory and data integrity crisis EU regulators recommend revoking Tavneos approval, and NEJM retracted the trial supporting it after FDA found data issues. The FDA may withdraw the drug in the US. This creates uncertainty and could hurt Amgen's reputation and sales.

    This is a major negative regulatory event that threatens a marketed drug and investor confidence.

  • Competition and patent risks Roche's divarasib beat Amgen's Lumakras in lung cancer, threatening Lumakras sales. Also, a jury found Amgen willfully infringed a patent, raising legal concerns. Both could pressure future revenue and increase costs.

    These are new competitive and legal threats that could weigh on Amgen's stock.