Amgen has recently garnered attention due to promising Phase 3 MINT trial results for UPLIZNA in treating generalized myasthenia gravis, likely influencing its 14% price increase over the last quarter. These findings, emphasizing the drug's efficacy, coincide with Amgen's Q4 2024 earnings report, which showed a rise in revenue yet a decline in net income, reflecting a mixed financial performance. Despite the broader stock market experiencing declines, with the S&P 500 and Nasdaq suffering substantial drops, Amgen's significant focus on product development has potentially bolstered investor confidence. Key product developments, like the FDA approval for LUMAKRAS and the promising results from trials like WAYPOINT for TEZSPIRE and the ROCKET trial with Kyowa Kirin, may have mitigated investor concerns, helping to support Amgen's share price. The company's announcement of ongoing acquisition efforts could also contribute to optimistic market sentiment.

Understand Amgen's earnings outlook by examining our growth report.

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Amgen's shares have delivered a total return of 77.86% over the past five years. During this period, the company exceeded the returns of the U.S. market and the Biotechs industry over the last year, highlighting its robust market positioning. A significant milestone was the U.S. Court of Appeals' decision on July 1, 2020, which upheld the validity of two of Amgen's patents for Enbrel. This court victory prevented Sandoz from selling a biosimilar, which likely provided considerable support for market confidence.

Additionally, Amgen's commitment to returning capital through dividends has been consistent over time. Most recently, the board declared a dividend of US$2.38 per share, reinforcing shareholder returns. Furthermore, the company's focus on R&D and strategic collaborations, such as the partnership announced on January 8, 2025, with Asher Biotherapeutics for cancer therapies, underlines its efforts to sustain growth and innovation, further consolidating investor trust.

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Companies discussed in this article include NasdaqGS:AMGN.

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