Amgen Inc

AMGN: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Amgen's Broad Portfolio Strength and Wide Moat Should Protect Profits Despite Upcoming Biosimilars

Karen Andersen

Feb 5, 2025

Business Strategy and Outlook

Amgen has its roots in providing supportive-care products to kidney disease and cancer patients, but it has expanded its portfolio to include innovative drugs in therapeutic areas ranging from cardiology to immunology. Despite headwinds from biosimilar and branded competition, Amgen's newer blockbusters like cholesterol-lowering drug Repatha defend its wide moat and keep free cash flow above 30% of sales in our forecast.

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Amgen Inc

Amgen's Broad Portfolio Strength and Wide Moat Should Protect Profits Despite Upcoming Biosimilars

Business Strategy and Outlook

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