Amgen (AMGN) Shares Decline 5% Following Novartis Drug Trial Failure
Published on · Source: finance.yahoo.com
AI Summary
Summarized by AI from the source belowAmgen Inc. (NASDAQ: AMGN) lost approximately $12 billion in market value after its stock fell about 5% to $415 on September 4, 2026. This decline was triggered by Novartis's announcement that its Lp(a)-lowering drug, pelacarsen, failed in a Phase 3 trial, jeopardizing the validity of similar drugs, including Amgen's olpasiran. Despite the drop, Amgen has other products driving value, such as MariTide, Repatha, and Tezspire, which provide some stock resilience. This is significant for investors considering the impact of trial results on biotech stock valuations and the importance of diversification in Amgen's portfolio.
Informational only, not financial advice. Content is AI-generated and may contain errors. How this works.
About Amgen Inc. (AMGN)
Amgen is one of the world’s largest biotechnology companies.
The Health Care sector covers pharmaceutical, biotech, device and managed-care companies.
Earlier AMGN news
- Amgen (AMGN) FY 2025 Revenue at $36.7 Billion with 9.9% Growth
- Jim Cramer Advises Investors to Diversify Beyond AI Stocks
- Amgen (AMGN) SVP Rachna Khosla Sells $1.35M of Stock
- Amgen (AMGN) SVP Sells $1.56M in Stock after Option Exercise
- Amgen (AMGN) SVP Nancy Grygiel Disposes $1.19M in Stock
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