Novartis and Ionis announced on Sept. 4 that the Lp(a)Horizon phase 3 trial for cardiovascular drug candidate pelacarsen did not reduce the combined risk of four key cardiovascular events in patients with cardiovascular disease and high levels of biomarker Lp(a). Amgen shares fell 10% on Sept. 8.
Amgen's pipeline had been stale since the launch of Prolia/Xgeva, but cholesterol drug Repatha revived our enthusiasm for the firm's research engine. Blincyto and Tezspire also look differentiated.
Biosimilars have been on the market in Europe since 2007 but have had a larger impact on Amgen since 2019 as US exposure intensifies. Pressure on Prolia/Xgeva intensified in 2026.
|
Metric
|
AMGN
|
NVS
|
REGN
|
|---|---|---|---|
Price/Earnings (Normalized) | 18.21 | 13.57 | 15.62 |
Price/Book Value | 18.84 | 6.45 | 2.39 |
Price/Sales | 5.81 | 4.80 | 5.06 |
Price/Cash Flow | 17.03 | 14.16 | 16.87 |
|
Metric
|
AMGN
|
NVS
|
REGN
|
|---|---|---|---|
Quick Ratio | 0.95 | 0.55 | 2.63 |
Current Ratio | 1.37 | 0.86 | 3.34 |
Interest Coverage | 4.86 | 11.90 | 80.98 |
|
Metric
|
AMGN
|
NVS
|
REGN
|
|---|---|---|---|
Return on Assets (Normalized) | 13.30% | 14.74% | 12.70% |
Return on Equity (Normalized) | 130.43% | 39.06% | 16.48% |
Return on Invested Capital (Normalized) | 22.07% | 21.25% | 13.47% |
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1-Day Chart
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Name
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Price
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Morningstar Rating for Stocks
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Market Cap
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