Amgen (AMGN) Fell 5% on a Drug That Isn’t Even Its Own. Here’s the Lp(a) Bet Now in Question.

Monte Rosa Therapeutics (GLUE) received a $50M milestone payment from Novartis (NVS) for the first patient dosed in a Phase 2 trial of MRT-6160 for Sjögren’s disease. The deal could be worth up to $2.1B. Monte Rosa reported Q2 2026 revenue of $9M, up from $23.2M a year earlier, with a net loss of $43.4M. The company has multiple clinical trials ongoing and $626M in cash.

Amgen (AMGN) reported Phase 3 data for IMDELLTRA combined with AstraZeneca’s Imfinzi, showing improved survival rates in small cell lung cancer. The stock has seen mixed returns recently, with a 13.70% drop over 7 days but a 40.32% gain over 1 year. Analysts debate its valuation, with fair value estimates ranging from $359.98 to $669.81, highlighting risks and growth potential.

Novartis (NVS) faces calls for board changes from major shareholder Artisan Partners after two clinical trial failures erased $30 billion in market value. Investor David Samra criticized the company's acquisition strategy, citing the $12 billion Avidity Biosciences deal as a failure. Novartis defended its pipeline and capital allocation approach, maintaining unchanged sales guidance.

RA Capital Management has participated in multiple biotech funding rounds, including Solstice Oncology ($225M), Tectora Therapeutics ($55M), and Superluminal Medicines ($56M). Eli Lilly, also active, invested in four biotech firms. Novartis faced setbacks in two clinical trials, including a failed cardiovascular study with Ionis Pharmaceuticals.

Amgen (AMGN) and Revolution Medicines (RVMD) present contrasting investment profiles. Amgen, with $36.7B revenue and $7.7B net income in 2025, offers steady cash flows and a 2.60% dividend. Revolution Medicines, a clinical-stage biotech, has no revenue but reported a $1.1B net loss. Revolution recently gained FDA approval for Daraxonrasib, a potential breakthrough in pancreatic cancer treatment.

Novartis (NYSE:NVS) reported failures in late-stage trials for del-desiran (myotonic dystrophy) and pelacarsen (cholesterol), raising concerns about its pipeline. Despite this, the company reaffirmed its 5%-6% annual sales growth target through 2030 and highlighted potential from remibrutinib, which succeeded in a multiple-sclerosis study.