Where Will Amgen Be in 5 Years?
Biotech companies must develop new medicines to remain successful since older ones eventually encounter patent cliffs and face generic or biosimilar competition. However, launching new drugs is no guarantee of success. Many therapies aren't nearly as successful as hoped.
Biotech giant (NASDAQ: AMGN) has had a harsh reminder of that reality in recent years. Some of its most recent brand-new launches, especially the cancer drug Lumakras, have made paltry (at best) contributions to its top line, while some of its legacy products are racking up declining sales.
Amgen does have a plan to turn things around, though. Can the drugmaker be successful? Let's find out how things could evolve for the company through the next half-decade.
Source Fool.com
Amgen Inc. Stock
€230.85
0.240%
The stock is one of the favorites of our community with 25 Buy predictions and 4 Sell predictions.
With a target price of 309 € there is a positive potential of 33.85% for Amgen Inc. compared to the current price of 230.85 €.
