Amgen experienced a significant 18.62% price increase over the last quarter, coinciding with the recent FDA approval of UPLIZNA for treating Immunoglobulin G4-related disease (IgG4-RD). This approval, alongside the Breakthrough Therapy Designation granted by the FDA, reflects high unmet medical needs being addressed, which could have positively influenced investor sentiment. Despite broader market declines, including a 5% drop in the Nasdaq Composite due to trade tensions, Amgen's drug developments and clinical trial successes, like the promising results from the MITIGATE trial, likely bolstered investor confidence, contrasting with the market's general bearish trend.

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The last 5 years have seen Amgen Inc. deliver a total shareholder return of 65.58%, including both share price appreciation and dividends. During this period, Amgen exceeded the performance of the US Biotechs industry, which experienced a 10.4% decline over the past year. A key factor in supporting Amgen's performance has been its focus on expanding its oncology portfolio, along with approvals of rare disease products like TEPEZZA and UPLIZNA, which have addressed critical unmet medical needs and driven revenue growth. Moreover, the strategic integration of artificial intelligence to improve R&D efficiency has strengthened its long-term earnings potential.

Despite facing challenges such as declining prices and patent expirations, Amgen has demonstrated resilience through revenue diversification and innovation. The company's cardiovascular portfolio, including Repatha, benefited from increased market access. Strategic initiatives like share repurchases, completed extensively by the end of 2024, have also supported shareholder value. However, ongoing legal challenges, such as the class action lawsuit related to alleged securities fraud, could impact investor sentiment moving forward.

Gain insights into Amgen's historical outcomes by reviewing our past performance report.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Companies discussed in this article include NasdaqGS:AMGN.

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