Why Amgen’s Stock Is Up Over $11 Today

Amgen’s Stock Is Up

Amgen (AMGN) is speeding towards reaching its true, fair value. In the Q2 financial results Amgen has beaten the most optimistic analysts’ expectations and negative investors who keep mourning the firm’s 35 years old products’ sales’ decline while ignoring the many newly approved breakthrough products with their large markets and the capability to treat diseases that had no treatments. They continued selling the stock while ignoring the firm’s biosimilar products that have large markets in addition to the firm’s bounty of cash.

Amgen News Today 

Amgen announced today that the U.S. District Court for the State of New Jersey has ruled in favor of the validity of the two patents that describe and claim Enbrel® (etanercept) and methods for making it.

Amgen affiliates: Immunex Corporation and Amgen Manufacturing Limited, along with the owner and licensor of the two patents, Hoffmann-La Roche Inc., brought the patent infringement action in Federal Court against Sandoz. The trial proceeded only on Sandoz’s challenges to the validity of those claims.

After careful consideration, the Court found that Sandoz had not met its burden of proof for all seven asserted claims.

Commenting on the ruling, Robert A. Bradway, Chairman and Chief Executive Officer at Amgen, said,  “We are pleased with today’s decision recognizing the validity of these patents.  Protecting intellectual property is critical to incentivize innovation and the large investments in research and development that are required to bring new medicines to patients and fully develop their therapeutic potential for patients”.  

Read Amgen’s Press Release Under Impacting News.

Prohost Observations 

For more than a year we have been struggling against those who continued to advocate for the selling Amgen’s stock. None of the negative reasoning for selling AMGN made any sense.

When we added Amgen to the Prohost Portfolio, on March 18, 2011 at $52.94, the stock had been frozen at, or under, $50 for several years.  

Today, Amgen stock closed at $196.25, Up over $11.

A couple of days before the AMGN rally started, based on the positive Q2 results and today’s court ruling for the firm, we sent you a message suggesting not to abandon the King at this time of huge market volatility. 

We congratulate those who did not ignore our message.

The new 2019 and 2020 targets will be posted soon.

Have a Good Night! 

To read more about this firm please run a search from our website by clicking here.

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