Biotech company Amgen (NASDAQ:AMGN) announced better-than-expected revenue in Q1 CY2025, with sales up 9.4% year on year to $8.15 billion. The company expects the full year’s revenue to be around $35 billion, close to analysts’ estimates. Its non-GAAP profit of $4.90 per share was 15% above analysts’ consensus estimates.
Wall Street pushed higher in midday trading, with the S&P 500 on track for its eighth consecutive gain — its longest winning streak since November 2023. The index rose about 1% to 5,560, fully recovering the losses sustained after former President Donald Trump announced trade tariffs on April 2.
Biopharma stocks rally along with many of our SMID cap trades. The market situation with pharmaceuticals is even more complicated because we started off with legislation (the IRA) trying to curb rising drug and healthcare costs.
Value stocks typically trade at discounts to the broader market, offering patient investors the opportunity to buy businesses when they’re out of favor.
The key risk, however, is that these stocks are usually cheap for a reason – five cents for a piece of fruit may seem like a great deal until you find out it’s rotten.
Considering the blue-chip Dow face-planted ahead of the open on a disappointing Q1 report from UnitedHealth, which resulted in a -22% tanking by Thursday’s close, this was a pretty flat day.
The end of the earnings season is always a good time to take a step back and see who shined (and who not so much). Let’s take a look at how therapeutics stocks fared in Q4, starting with AbbVie (NYSE:ABBV).
Sandoz sues Amgen in U.S. court over Enbrel patents, alleging efforts to block biosimilar Erelzi and delay competition in the inflammatory disease market.
Sandoz is seeking an injunction to prevent Amgen from using patent rights to block biosimilar competition and allow Sandoz to launch its Erelzi “as soon as possible.”
