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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Amgen Inc.    AMGN

AMGEN INC.

(AMGN)
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Amgen : Can Therapeutic Antibodies Offer Hope for COVID-19 Patients?

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04/07/2020 | 09:18pm EDT

You may have seen our recent news about the Amgen and Adaptive Biotechnologies strategic partnership to develop a therapeutic to prevent or treat COVID-19. Our teams have already begun work on this important research. We asked Ray Deshaies, Ph.D., SVP of Global Research here at Amgen, about this collaboration and why there is so much attention now on the role antibodies may play in treatment options for patients infected with COVID-19.

Watch the video above to hear from Dr. Deshaies, who discusses the collaboration, what an antibody is and how it protects the human body from viruses and infection, and why Amgen is using our expertise in immunology and protein engineering to help work towards a possible medical treatment for COVID-19.

By the way, before joining Amgen, Dr. Deshaies was a professor at Caltech for more than 20 years. You can also hear from other Amgen experts on COVID-19, including Dr. Steve Galson, who discusses face masks and handwashing, and Dr. David Reese, who discusses what it means to bend the curve on this pandemic. All these videos were filmed on their iPhones at their homes following social distancing guidelines.

Amgen Forward-Looking Statements

This communication contains forward-looking statements that are based on the current expectations and beliefs of Amgen. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements, including any statements on the outcome, benefits and synergies of collaborations, or potential collaborations, with any other company, including Adaptive Biotechnologies (including statements regarding such collaboration's ability to discover and develop fully-human neutralizing antibodies targeting SARS-CoV-2 to potentially prevent or treat COVID-19), BeiGene, Ltd., or the Otezla® (apremilast) acquisition, including anticipated Otezla sales growth and the timing of non-GAAP EPS accretion, as well as estimates of revenues, operating margins, capital expenditures, cash, other financial metrics, expected legal, arbitration, political, regulatory or clinical results or practices, customer and prescriber patterns or practices, reimbursement activities and outcomes, effects of pandemics or other widespread health problems such as the ongoing COVID-19 pandemic on our business, and other such estimates and results. Forward-looking statements involve significant risks and uncertainties, including those discussed below and more fully described in the Securities and Exchange Commission reports filed by Amgen, including our most recent annual report on Form 10-K and any subsequent periodic reports on Form 10-Q and current reports on Form 8-K. Unless otherwise noted, Amgen is providing this information as of the date of this news release and does not undertake any obligation to update any forward-looking statements contained in this document as a result of new information, future events or otherwise.

No forward-looking statement can be guaranteed and actual results may differ materially from those we project. Our results may be affected by our ability to successfully market both new and existing products domestically and internationally, clinical and regulatory developments involving current and future products, sales growth of recently launched products, competition from other products including biosimilars, difficulties or delays in manufacturing our products and global economic conditions. In addition, sales of our products are affected by pricing pressure, political and public scrutiny and reimbursement policies imposed by third-party payers, including governments, private insurance plans and managed care providers and may be affected by regulatory, clinical and guideline developments and domestic and international trends toward managed care and healthcare cost containment. Furthermore, our research, testing, pricing, marketing and other operations are subject to extensive regulation by domestic and foreign government regulatory authorities. We or others could identify safety, side effects or manufacturing problems with our products, including our devices, after they are on the market. Our business may be impacted by government investigations, litigation and product liability claims. In addition, our business may be impacted by the adoption of new tax legislation or exposure to additional tax liabilities. If we fail to meet the compliance obligations in the corporate integrity agreement between us and the U.S. government, we could become subject to significant sanctions. Further, while we routinely obtain patents for our products and technology, the protection offered by our patents and patent applications may be challenged, invalidated or circumvented by our competitors, or we may fail to prevail in present and future intellectual property litigation. We perform a substantial amount of our commercial manufacturing activities at a few key facilities, including in Puerto Rico, and also depend on third parties for a portion of our manufacturing activities, and limits on supply may constrain sales of certain of our current products and product candidate development. An outbreak of disease or similar public health threat, such as COVID-19, and the public and governmental effort to mitigate against the spread of such disease, could have a significant adverse effect on the supply of materials for our manufacturing activities, the distribution of our products, the commercialization of our product candidates, and our clinical trial operations, and any such events may have a material adverse effect on our product sales, business and results of operations. We rely on collaborations with third parties for the development of some of our product candidates and for the commercialization and sales of some of our commercial products. In addition, we compete with other companies with respect to many of our marketed products as well as for the discovery and development of new products. Discovery or identification of new product candidates or development of new indications for existing products cannot be guaranteed and movement from concept to product is uncertain; consequently, there can be no guarantee that any particular product candidate or development of a new indication for an existing product will be successful and become a commercial product. Further, some raw materials, medical devices and component parts for our products are supplied by sole third-party suppliers. Certain of our distributors, customers and payers have substantial purchasing leverage in their dealings with us. The discovery of significant problems with a product similar to one of our products that implicate an entire class of products could have a material adverse effect on sales of the affected products and on our business and results of operations. Our efforts to collaborate with or acquire other companies, products or technology, and to integrate the operations of companies or to support the products or technology we have acquired, may not be successful. A breakdown, cyberattack or information security breach could compromise the confidentiality, integrity and availability of our systems and our data. Our stock price is volatile and may be affected by a number of events. Our business performance could affect or limit the ability of our Board of Directors to declare a dividend or our ability to pay a dividend or repurchase our common stock. We may not be able to access the capital and credit markets on terms that are favorable to us, or at all.


Disclaimer

Amgen Inc. published this content on 07 April 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 April 2020 01:17:05 UTC

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Financials (USD)
Sales 2020 25 315 M - -
Net income 2020 7 302 M - -
Net Debt 2020 23 293 M - -
P/E ratio 2020 18,3x
Yield 2020 2,73%
Capitalization 135 B 135 B -
EV / Sales 2019
EV / Sales 2020 6,26x
Nbr of Employees 23 400
Free-Float 99,8%
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Amgen Inc. Technical Analysis Chart | AMGN | US0311621009 | MarketScreener
Technical analysis trends AMGEN INC.
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Mean consensus OUTPERFORM
Number of Analysts 30
Average target price 251,00 $
Last Close Price 229,70 $
Spread / Highest target 26,7%
Spread / Average Target 9,27%
Spread / Lowest Target -19,5%
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NameTitle
Robert A. Bradway Chairman, President & Chief Executive Officer
Esteban Santos Executive Vice President-Operations
Peter H. Griffith Chief Financial Officer
David M. Reese Executive Vice President-Research & Development
Darryl Sleep Chief Medical Officer & Senior VP-Global Medical
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