Amgen's Stock Drops 1.60% on 14.23 Billion Trading Volume Ranking 95th in Market

On April 7, 2025, Amgen's trading volume reached 14.23 billion, ranking 95th in the day's stock market. Amgen's stock price fell by 1.60%, marking the second consecutive day of decline, with a total decrease of 6.51% over the past two days.

Amgen has announced that it will be conducting a clinical trial for its new drug, AMG 123, which is designed to treat a rare form of cancer. The trial will involve 500 patients and is expected to last for two years. The company hopes that the results of the trial will provide valuable insights into the drug's efficacy and safety.

Amgen has also announced that it will be expanding its manufacturing capabilities in order to meet the growing demand for its products. The company plans to invest $500 million in a new manufacturing facility in California, which is expected to create 500 new jobs in the area. The facility will be used to produce a range of Amgen's biologic drugs, including its blockbuster drug, Enbrel.

Amgen has also announced that it will be acquiring a small biotech company, BioXcel Therapeutics, for $1.5 billion. The acquisition is expected to strengthen Amgen's position in the oncology market and provide the company with access to a new pipeline of cancer drugs. The deal is expected to close in the third quarter of 2025.