Company Overview - Amgen Inc. (AMGN) is a leading global biotechnology company with a market cap of $158.6 billion, headquartered in Thousand Oaks, California, focusing on innovative human therapeutics for serious illnesses, particularly in oncology, nephrology, cardiovascular disease, and inflammation [1] Earnings Expectations - Amgen is expected to release its fiscal Q3 2025 earnings results on November 4, with analysts predicting a profit of $5.01 per share, which represents a 10.2% decrease from $5.58 per share in the same quarter last year [2] - For fiscal 2025, analysts forecast an EPS of $21.10, indicating a 6.4% increase from $19.84 in fiscal 2024 [3] Stock Performance - Over the past 52 weeks, Amgen's stock has declined by 8.4%, underperforming the S&P 500 Index, which gained 16.3%, and the Health Care Select Sector SPDR Fund, which saw a 6% dip [4] Recent Developments - On October 1, Amgen's shares surged by 6.4% following the announcement of a $650 million investment to expand its U.S. biologics manufacturing facility in Juncos, which is expected to create nearly 750 new jobs, emphasizing the company's commitment to U.S. biomanufacturing and global supply chain strength [5] Analyst Ratings - The consensus rating for AMGN stock is "Moderate Buy," with 33 analysts covering the stock, including 12 "Strong Buys," 2 "Moderate Buys," 16 "Holds," 1 "Moderate Sell," and 2 "Strong Sells." The average analyst price target for AMGN is $315.26, suggesting a potential upside of 6.7% from current levels [6]

Core Insights - Drugmakers are increasingly adopting telehealth platforms for direct-to-consumer sales, aligning with the Trump administration's push for lower drug prices [2][3][5] - Amgen has announced a significant price reduction for its cholesterol-lowering drug Repatha, offering it at a cash price 60% lower than its current list price [2] - The Trump administration is promoting a "most favored nation" policy to tie U.S. drug prices to lower prices abroad, urging companies to implement direct-to-consumer sales models [3] Group 1: Industry Trends - The pharmaceutical industry is moving towards direct-to-consumer sales, allowing patients to purchase medications directly from manufacturers at discounted prices [5] - This shift enables drugmakers to bypass intermediaries like pharmacy benefit managers, potentially increasing their revenue [5] Group 2: Government Initiatives - The Trump administration plans to launch a website, TrumpRx.gov, to facilitate direct online purchases of branded drugs at discounts, with Pfizer agreeing to offer discounts averaging 50% and up to 85% on certain drugs [4] - In July, Trump sent letters to 17 drugmakers, urging them to adopt measures to reduce costs for patients, including direct-to-consumer sales [3]

Core Insights - Amgen has launched a direct-to-consumer program called AmgenNow, offering significant discounts on its drugs, starting with Repatha, which is priced at $239 per month, representing a nearly 60% discount from its U.S. list price [1][8] - The direct-to-patient price for Repatha is the lowest among G-7 advanced economies, targeting uninsured patients and those on high-deductible health plans [2] - Amgen has partnered with GoodRx to provide Repatha at the same price across 70,000 pharmacies nationwide [3] Financial Performance - Repatha has shown strong sales growth since its launch in 2015, with $696 million in sales during Q2 2025, a 31% increase year over year [4] - The company anticipates that Repatha will evolve into a multi-billion-dollar franchise by 2030 [4] Strategic Initiatives - The launch of AmgenNow aligns with political pressures for pharmaceutical companies to reduce drug prices and improve domestic operations [3][9] - Amgen has made significant investments in U.S. manufacturing, including a $650 million investment to expand its network, a $600 million science and innovation center in California, a $900 million manufacturing expansion in Ohio, and a $1 billion facility in North Carolina [10] Industry Context - Amgen's actions may reflect a broader industry trend, following Pfizer's recent agreement with the Trump administration to align drug prices with those in other developed nations [11][12] - The developments from both Amgen and Pfizer could signal a turning point in easing regulatory and pricing pressures in the pharmaceutical industry [12] Stock Performance - Year-to-date, Amgen's shares have increased by 13%, outperforming the industry average growth of 8% [6]

Drug Pricing - Amgen 通过新的药物获取计划，将美国患者的胆固醇药物价格降低了一半以上 [1] - 此举正值特朗普政府呼吁降低药品价格之际 [1]

Core Insights - Amgen has launched its cholesterol medication, Repatha, directly to consumers in the U.S. at a reduced cash price [2] - This initiative is part of a broader response from pharmaceutical companies to political pressure [2] Company Actions - The launch of Repatha directly to consumers indicates a shift in Amgen's marketing strategy [2] - The reduced cash price aims to make the medication more accessible to patients [2] Industry Context - The move reflects a trend among pharmaceutical companies to address public and political concerns regarding drug pricing [2] - This action may influence competitive dynamics within the cholesterol medication market [2]

Group 1 - The biotechnology company has launched a new direct-to-patient program called AmgenNow, which initially focuses on its drug Repatha [1]

Amgen joins drugmakers offering discounts to cash-paying patients after Trump’s call to cut prices https://t.co/OtfyomPkAP ...

Core Insights - Amgen has initiated direct-to-consumer sales of its cholesterol medication Repatha in the U.S. at a discounted cash price, responding to political pressure regarding drug pricing [1] Group 1: Company Actions - The launch of Repatha for direct consumer sales marks a strategic move by Amgen to enhance accessibility and affordability of its medication [1] - The discounted cash price indicates Amgen's effort to align with ongoing discussions about drug pricing reform in the U.S. [1] Group 2: Industry Context - Amgen's decision reflects a broader trend among pharmaceutical companies to adapt to political and public pressure regarding high drug prices [1] - The move may influence competitive dynamics within the cholesterol medication market, as other companies may need to respond similarly to maintain market share [1]

Core Insights - Amgen has launched a new direct-to-patient program called AmgenNow, offering Repatha at a monthly price of $239, which is nearly 60% lower than the current U.S. list price [2][3] - The program aims to support patients, including those uninsured or with high-deductible health plans, making it easier for them to access Repatha, which has shown significant clinical benefits in reducing major adverse cardiovascular events [1][2] - Repatha is a PCSK9 inhibitor that has been studied for 15 years in over 50 clinical trials involving more than 57,000 patients, demonstrating its effectiveness in lowering LDL cholesterol levels [3][4] Pricing and Accessibility - The AmgenNow program is available to all Repatha patients, including those on government programs like Medicare and Medicaid, and does not require prior authorization or step therapy from insurers [2][3] - The new pricing structure positions Repatha as the lowest-priced option among economically developed G-7 countries, reflecting Amgen's commitment to making medications more accessible [2][3] Clinical Background - Repatha works by inhibiting PCSK9, which allows for increased recycling of LDL receptors, thereby lowering LDL cholesterol levels in the blood [3] - The drug is approved in over 74 countries, including the U.S., Japan, Canada, and all EU member states, with applications pending in other regions [4] Indications and Safety Information - Repatha is indicated for adults and pediatric patients aged 10 years and older with specific types of hypercholesterolemia, and it is used as an adjunct to diet and exercise [7] - Important safety information includes contraindications for patients with a history of serious hypersensitivity reactions to evolocumab, and common adverse reactions reported include nasopharyngitis and upper respiratory tract infections [6][8]

Core Viewpoint - Amgen's stock presents an attractive long-term investment opportunity despite recent share price declines and upcoming patent cliffs [1][2]. Group 1: Promising Drug Developments - Amgen is developing MariTide, a weight management drug that has shown a mean weight loss of up to 20% over 52 weeks, with a favorable monthly dosing schedule [4][5]. - The anti-obesity market is rapidly growing, and MariTide could generate sales of up to $3.7 billion by 2030, helping Amgen offset losses from patent expirations [6]. - Amgen has a robust pipeline with several ongoing programs, including bemarituzumab, which has shown promising results in a phase 3 study for metastatic gastric cancer [7][8]. Group 2: Recent Product Launches - Amgen's recent product approvals, such as Imdelltra for lung cancer, Tezspire for asthma, and Uplizna for rare diseases, are expected to contribute to top-line growth [9][10]. Group 3: Financial Strength and Dividends - Amgen has a strong dividend track record, having increased its dividend by 201.3% over the past decade, with a current yield of 3.5% [11][12]. - The company's cash payout ratio of 46.5% provides room for further dividend increases, making it an attractive option for investors seeking income [12][13]. Group 4: Valuation - Amgen's shares are considered reasonably valued, with a forward price-to-earnings ratio of 12.6, lower than the healthcare industry average of 16.4 [14][15]. - The market may be pricing in upcoming patent losses, but long-term investors could benefit from potential revenue and earnings growth as new products are launched [15].