AllAnalyst Report
logoMorningstarOctober 21, 2020

Amgen Inc.: Lowering Our Amgen Fair Value Estimate to $215 Following Two Pipeline Readouts

Symbols
AMGN
Sector(s)
Healthcare
Rating
Premium
Current Price
$227.09
Fair Value
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Economic Moat
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Stewardship
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Summary

Amgen is a leader in biotechnology-based human therapeutics, with historical expertise in renal disease and cancer supportive-care products. Flagship drugs include red blood cell boosters Epogen and Aranesp, immune system boosters Neupogen and Neulasta, and Enbrel and Otezla for inflammatory diseases. Amgen introduced its first cancer therapeutic, Vectibix, in 2006 and received approval for bone-strengthening drug Prolia/Xgeva in 2010. Amgen's acquisition of Onyx bolstered the firm's therapeutic oncology portfolio with Nexavar and Kyprolis. Recent launches include Repatha (cholesterol-lowering) and Aimovig (migraine).

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