Amgen's Strategic Path - Navigating Patent Expiries With Promising New Therapies

  • Amgen faces major revenue risk from upcoming patent cliffs but has promising pipeline drugs like MariTide and olpasiran to offset losses. Recent financials show solid revenue growth and improved margins, though net selling prices and legacy drugs like Enbrel remain under pressure. Valuation analysis reveals AMGN is priced for no growth, offering 27% upside if the company achieves even modest revenue increases.