Street View: Amgen's mixed data on two drugs fans competition concerns
** Amgen's AMGN.O drugs, Uplizna and rocatinlimab, for a rare muscular disorder and for a skin disease, respectively, met the main goals in their late-stage studies
** However, results from its drug rocatinlimab for treating atopic dermatitis or eczema, fell short of its competitors' drugs which have already been approved
YOU WIN SOME, YOU LOSE SOME
** Truist Securities ("buy", PT: $320) says while Uplizna data is competitive, it is cautious about the market opportunity for rocatinlimab due to stiff competition
** Baird ("underperform", PT: $215), however, says it is "incrementally negative" on both the drugs, including Uplizna, as they both face intense competition
** Brokerage adds Uplizna is unlikely to take major market share from rival Argenx' ARGX.BR Vyvgart
** Piper Sandler ("overweight", PT: $344), in a note titled "You Win Some, You Lose Some", says the rocatinlimab data is disappointing
** Brokerage also says it is tough to see the other treatment, Uplizna, "unseating King Vyvgart", but believes the market to be sizable
Reporting by Kashish Tandon in Bengaluru
Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
