Amgen Receives FDA Approval for Expanded Use of Repatha in Cardiovascular Risk Management, Reports Q2 Earnings Growth.

Amgen received FDA approval for expanded use of Repatha in cardiovascular risk management, contributing to its Q2 revenue growth to $9,179 million. Despite a 3% price increase, the market showed a 15% annual growth trend. The company's earnings growth may have positively impacted its market performance. However, there are potential red flags for Amgen, including biosimilar competition and patent expirations. The expanded approval may stabilize or boost revenue streams and enhance volume growth.

Amgen (NASDAQ: AMGN) recently received FDA approval for expanded use of its cholesterol-lowering drug, Repatha® (evolocumab), to include adults at increased risk for major adverse cardiovascular events (MACE) due to uncontrolled low-density lipoprotein cholesterol (LDL-C). This approval broadens the drug's indications, removing the prior requirement for a cardiovascular disease diagnosis [1].

The expanded use of Repatha, along with its approval for monotherapy in patients with homozygous familial hypercholesterolemia (HoFH), may contribute to Amgen's Q2 revenue growth, which reached $9,179 million. Despite a 3% price increase, the market showed a 15% annual growth trend, potentially influenced by the company's earnings growth [1].

The expanded approval of Repatha may stabilize or boost revenue streams and enhance volume growth. However, Amgen faces potential red flags, such as biosimilar competition and patent expirations, which could impact its market performance. The company's ability to maintain its competitive position and market share will be crucial in the coming years [1].

References:
[1] https://finance.yahoo.com/news/repatha-now-indicated-adults-increased-130000105.html