Amgen Shares Plunge Amidst Uncertainties Despite Biotech Breakthroughs

Amgen Inc. (AMGN) is currently navigating a challenging financial landscape as its stock price recently experienced a significant decline over a two-day period. On April 4th, Amgen shares dropped by 4.99%, reaching their lowest intra-day level since February 2025. The downward trend continued on April 5th, with shares further declining by 5.06%. This volatility marks a period of uncertainty for investors as they await upcoming financial disclosures.

The impending release of Amgen's quarterly earnings report is scheduled for May 1st, 2025, and will provide insight into the company's financial health and strategic direction. Recent data reveals that Amgen's revenue rose to $334.24 billion for the fiscal year ending December 31, 2024, marking an 18.57% increase year-over-year. However, net income attributable to shareholders saw a decline of 39.11%, totaling $40.9 billion, which reflects the inherent challenges faced by the company.

Amgen is committed to addressing unmet medical needs through its innovative biotechnology products. As a pioneer in the biotech industry, the company has significantly impacted patient care worldwide and maintains a strong focus on improving health outcomes for those suffering from severe conditions. Notably, Amgen recently achieved a significant milestone when their partner company announced the FDA approval of Inebilizumab, a novel treatment for IgG4-related disease, highlighting their strategic commitment to advancing medical treatments.

IgG4-related disease is characterized by chronic immune-mediated inflammation, leading to organ damage and fibrosis. Inebilizumab's approval by the FDA is grounded in the positive outcomes from Amgen's global MITIGATE phase III trial. This rigorous study demonstrated the drug's efficacy in reducing disease activity by 87% compared to placebo, offering patients the possibility of symptom-free relief without the need for steroids.

Furthermore, Inebilizumab is positioned for additional advancements, having been granted orphan drug status by the FDA for the treatment of generalized myasthenia gravis (gMG). Amgen is in the process of acquiring registration approval for the drug's use in treating gMG, with submissions expected by mid-2025. This strategic initiative underscores Amgen's ongoing commitment to leveraging cutting-edge biotechnology to address complex diseases.

Beyond the U.S., Amgen's expansion into new markets is illustrated by their exclusive licensing agreement with Viela Bio in 2019, now a part of Horizon Therapeutics, which was later acquired by Amgen. This agreement empowers Amgen to commercialize Inebilizumab throughout mainland China, Hong Kong, and Macau. Following regulatory approval in China in 2022, the treatment was branded as "XinYue®," securing its place in Asian markets as a key therapeutic solution for IgG4-related diseases.