Amgen Touches 52-Week High: Buy, Sell or Hold the Stock?

The FTC is challenging Amgen's acquisition of Enbrel patent rights, arguing it prolonged market exclusivity and blocked competitors. The case involves a lawsuit by CareFirst, alleging Amgen used patents to prevent biosimilar competition. Amgen's patents extended Enbrel's protection to 2029, and the FTC claims the deal violates antitrust laws. The FTC filed a brief urging the appeals court to reject Amgen's immunity argument.

Amgen's drug Tavneos (Avacopan), used for rare autoimmune diseases, is recalled in Ireland following a recommendation by the European Medicines Agency. The recall comes after reports of 20 deaths in Japan, though causality is unclear. The European Commission endorsed the recall, and France and the UK are also reviewing the drug. The HPRA advises patients not to stop treatment without consulting doctors.

Amgen's drug Tavneos, used for rare autoimmune diseases, has been recalled in Ireland and France after being linked to 20 deaths in Japan. The European Medicines Agency and the FDA have raised concerns about its risks, leading to its withdrawal in several regions. Amgen and its partner Kissei Pharmaceutical have acknowledged the deaths but note some had no confirmed link to the drug.

Amgen (NASDAQ: AMGN) terminated its collaboration with TScan Therapeutics (NASDAQ: TCRX), ending over USD 500 million in potential milestone payments for TScan. The agreement, effective November 10, 2026, focused on TScan's T-cell receptor discovery platform for Crohn's disease. TScan reported progress in its Phase III ALLOHA-2 trial for TSC-101, a therapy for hematologic malignancies, with topline data expected mid-2028.

Amgen Korea launched Tepezza, the first targeted therapy for thyroid eye disease (TED) in Korea. Approved by the MFDS, Tepezza is for adults with moderate-to-severe TED but is not covered by national health insurance. Clinical trials showed significant improvements in proptosis and diplopia compared to placebo. Amgen highlighted the treatment's potential to change TED management, though access remains a challenge due to cost and orphan-drug status.

Moderna and Merck's experimental cancer vaccine showed promising Phase 3 results, preventing melanoma recurrence in certain patients. This drove significant stock price increases for both companies and other biopharma stocks, including AbbVie, Amgen, Eli Lilly, Johnson & Johnson, and BioNTech. Moderna's shares surged 138%, while Merck's rose 12.4%. The broader biopharma sector has been on an upswing, with investors rotating away from tech stocks. President Trump's nomination of a new FDA commiss