$AMGN

Amgen sold its Deerfield campus for $151M in a sale-leaseback deal, retaining one building while Fortune Brands Innovations occupies the other two. The buyer is an entity affiliated with Mesirow. The property has changed hands multiple times in recent years. Sale-leasebacks are a common strategy for companies to unlock capital from real estate.

Amgen (AMGN) reported positive Phase 3 trial results for dazodalibep in treating Sjögren’s disease, showing significant improvements and a mild safety profile. The results could expand Amgen’s autoimmune portfolio and support its late-stage pipeline. Amgen projects $42.2B revenue and $10.6B earnings by 2029, though some analysts predict lower figures due to pricing pressures.

Celldex's barzolvolimab for chronic urticaria showed low anaphylaxis risk, with no black box expected, but stock reacted negatively. Amgen's dazodalibep for Sjögren's showed positive Phase 3 results, targeting a $25B market. Biotech stocks face sentiment challenges despite positive data.

Big pharma faces a $300B patent cliff by 2030, but AI-driven drug discovery, M&A, and favorable FDA policies offer growth opportunities. Key companies like Eli Lilly (LLY), J&J (JNJ), and McKesson (MCK) show varied performance. LLY's revenue tripled from 2021 to 2025, while MCK offers 24.3% fair value upside.

Novo Nordisk will cut U.S. list prices for Ozempic and Wegovy by 34% and 50% respectively, starting in 2027. Eli Lilly's new GLP-1 pill, Foundayo, was approved by the FDA. Prices vary by insurance coverage. Some employers, like PepsiCo and Cigna, are ending weight loss drug coverage. New drugs from Lilly, Novo Nordisk, and Amgen are in development.

Amgen (AMGN) rose 9.5% post-earnings, trading at $225.10. Myriad Genetics (MYGN) reported a 10.5% revenue decline, missing estimates, and fell 25.3% to $4.01. Novavax (NVAX) beat expectations with a 76.3% revenue drop but gained 36.7% to $10.53. Halozyme Therapeutics (HALO) grew revenue 47.7%, beating estimates, and rose 31.5% to $112.81.

Jefferies raised Amgen's price target to $410 from $367 after positive Phase 3 results for dazodalibep in systemic Sjögren's disease. The drug showed significant improvement in ESSDAI at week 48, with better safety and tolerability. Jefferies increased peak sales estimates to $4.5 billion and raised revenue and EPS forecasts for 2026-2027.

Amgen (AMGN) reported positive phase III study results for dazodalibep in systemic Sjögren's disease, showing significant improvement in disease activity. The company plans to present detailed data at an upcoming conference. AMGN shares have risen 27.9% year-to-date. Other pipeline candidates include olpasiran, xaluritamig, and daxdilimab.

Canaccord Genuity reiterated a Hold rating and $384 price target for Amgen (AMGN) after positive Phase 3 trial results for dazodalibep. The drug showed significant improvement in treating moderate-to-severe Sjogren’s disease. Amgen's stock trades at $410.24, with a P/E ratio of 25.46 and PEG ratio of 0.79. Analysts have mixed reactions, with some raising targets and others downgrading.

Amgen's dazodalibep showed efficacy in a phase 3 trial for Sjögren's disease, meeting its primary endpoint. The drug is part of Amgen's $28B Horizon Pharma acquisition. Full data from a second trial is expected by year-end. No FDA-approved treatments exist for this autoimmune disorder.