|Bid||230.80 x 800|
|Ask||235.00 x 1000|
|Day's Range||233.19 - 235.00|
|52 Week Range||166.30 - 235.80|
|Beta (3Y Monthly)||1.12|
|PE Ratio (TTM)||17.98|
|Earnings Date||Jan 27, 2020 - Jan 31, 2020|
|Forward Dividend & Yield||5.80 (2.48%)|
|1y Target Est||225.95|
Biotech stocks went back and forth but managed to end the week with a gain. As usual, some stocks swung wildly in reaction to catalysts, primarily clinical readouts. Aurinia Pharmaceuticals Inc (NASDAQ: ...
Amgen (NASDAQ:AMGN) today announced that the U.S. Food and Drug Administration (FDA) has approved AVSOLA™ (infliximab-axxq) for all approved indications of the reference product, Remicade® (infliximab): for the treatment of moderate-to-severe rheumatoid arthritis (RA), moderate-to-severe Crohn's Disease (CD) in the adult and pediatric population, moderate-to-severe ulcerative colitis (UC) in the adult and pediatric population, chronic severe plaque psoriasis (PsO), psoriatic arthritis (PsA) and ankylosing spondylitis (AS).
The U.S. Food and Drug Administration on Friday approved Amgen Inc's biosimilar copy of Johnson & Johnson's blockbuster rheumatoid arthritis drug, Remicade, according to the regulator's website. The biosimilar, Avsola, has the same chemical components, dosage form and strength as Remicade and would treat a range of autoimmune disorders. Amgen did not give the pricing of the drug immediately, but said is confident to compete in the biosimilar market.
PiperJaffrey analyst Christopher Raymond wrote that health-care/biotech-focused funds saw a second week of inflows as stocks including Biogen and Amgen are having great fourth quarters.
Shares of Amgen are on an upswing after the company won a patent battle over its drug Enbrel against Novartis subsidiary Sandoz. Is it time to buy shares of the massive biotech company?
"This is a much better company than it was just six months ago," said Jim Cramer. In this daily bar chart of AMGN, below, we can see a wide base pattern from last December to the end of October. The On-Balance-Volume (OBV) line has been leading the way higher since May and confirms the price strength with its signs of aggressive buying.
Abarca, a small Puerto Rico-based pharmacy benefits manager, said on Tuesday Amgen Inc had agreed to give its health insurer clients an additional discount on its blockbuster rheumatoid arthritis drug Enbrel, if patients discontinue taking it after three months. Pharmacy benefits managers like Abarca act as middlemen in the drug supply chain, and negotiate discounts on drugs on behalf of health insurers. Depending on the discounts drugmakers are willing to provide, pharmacy benefits managers make decisions about which drugs to include in coverage plans.
Jim Cramer spoke on CNBC's "Mad Money Lightning Round" about Biogen Inc (NASDAQ: BIIB ). He is concerned about the stock because a Baird analyst expressed his skepticism about Biogen's Alzheimer's ...
Biogen's (BIIB) shares decline following a rating downgrade by an analyst at Robert W. Baird on concerns related to approval of Alzheimer's disease candidate, aducanumab.
Merck's (MRK) sBLA for Keytruda gets FDA's priority review status to treat certain patients with high-risk, non-muscle invasive bladder cancer.
Abarca, a pharmacy benefit manager (PBM) that is disrupting the industry with an entirely new approach to technology and business practices, today announced it has entered into an outcomes-based contract with Amgen (NASDAQ: AMGN) for the drug Enbrel® (etanercept). Under the agreement, Amgen will issue rebates to Abarca's clients for eligible members who discontinue the use of the drug after three months of treatment. This applies to members of commercial health plans who are using the drug for the treatment of moderate to severe rheumatoid arthritis.
Amgen (NASDAQ:AMGN) today announced new clinical data from its oncology in-line products and pipeline that will be presented at the 61st American Society of Hematology (ASH) Annual Meeting & Exposition in Orlando, Dec. 7-10, 2019.
(Bloomberg Opinion) -- Drugmakers have spent years de-emphasizing heart medications in favor of higher-priced treatments for cancer and rare diseases. As America enters its most caloric season, it looks like that is starting to change, for now. Novartis AG made a particularly large commitment Sunday with its $9.7 billion purchase of Medicines Co. and its promising new cholesterol drug. Meanwhile, biotechnology company Amarin Corp.’s bet on its fish-oil-derived capsule Vascepa is starting to pay off: Its shares soared earlier this month after a Food and Drug Administration panel recently suggested the pill — which was shown to cut cardiac risk in a huge trial last year — be made available to millions of additional patients. Heart medicines are also key pipeline components or sales drivers at a number of big pharmaceutical companies as well, from Merck & Co. and Bayer AG to Pfizer Inc.Investment in cardiac medicines is positive for patients and public health; after all, heart disease remains the most significant cause of death in the U.S. There’s a reason that drugmakers had backed away, however. These companies will have to navigate a harsh market environment to keep this mini-renaissance alive. Effective heart disease medicines, including statins for cholesterol and drugs for high blood pressure, have become much cheaper as generic options have hit the market. That’s excellent for patients and health budgets, as expanded use of these drugs has been impactful enough to slow Medicare spending growth. But it makes things difficult for newer, higher-priced medicines to make inroads. Next-generation drugs need to prove they can add something on top of or substantially outperform cheaper options to have a chance at anything but niche success. They sometimes still struggle even if they do. Cardiovascular drugs take time to have an impact, and the American health-care system isn’t patient. People change health insurance all the time as they swap or lose jobs, pick a new plan, or have one selected for them. Health plans often focus on annual costs and don’t always want to pay extra for an uncertain benefit that might eventually save someone else money. That tendency is most pronounced in large markets, where rapid uptake of a new drug translates into substantial spending increases.Two relatively new cholesterol drugs — Praluent, from Sanofi and Regeneron Pharmaceutical Co., and Amgen Inc.’s Repatha — are the most significant recent cautionary tales. They were both approved in 2015 with high expectations and are effective medications, but the market balked at their high price and threw up barriers to access. The result was a glacial launch. Sales remain sluggish even after major price cuts. Medicine Co.’s inclisiran lowers cholesterol at a similar rate by using the same drug target as those medicines but requires far less frequent dosing. Novartis will have to find out whether convenience is enough to command a premium price and avoid the same commercial fate. As for Amarin, a drug-price watchdog called Vascepa a rare cost-effective option for heart disease earlier this year. That doesn’t guarantee a rapid ascent to blockbuster sales. The drug’s future is partially in the FDA’s hands. The exact language of the agency’s expanded approval will help determine how many new patients will get access. The bigger part is arguably once again up to health plans. They will decide how strictly to interpret the FDA’s guidelines, and whether patients will have to jump through hoops to get the medicine. The size of the potential patient population may inspire them to clamp down, cost-effectiveness be damned. The barriers to heart drugs are navigable. Novartis was likely inspired to pay up for Medicines because it managed the feat with its heart-failure treatment Entresto. Sales of the drug started extremely slowly, but are now growing at a respectable clip. There is a clear opportunity in this somewhat neglected space. Profiting from it might require a high risk tolerance and an extra measure of patience. To contact the author of this story: Max Nisen at email@example.comTo contact the editor responsible for this story: Beth Williams at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Max Nisen is a Bloomberg Opinion columnist covering biotech, pharma and health care. He previously wrote about management and corporate strategy for Quartz and Business Insider.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
The Zacks Analyst Blog Highlights: Intercept, CymaBay, Amgen, Global Blood Therapeutics and ChemoCentryx
Biotech stocks had a fairly robust November, with the iShares NASDAQ Biotechnology Index (NASDAQ: IBB ) advancing over 10% for the month. This compares to the 3% gains for the S&P 500 Index. The month ...
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