<div id="readability-page-1"><div><ul> <li>Earlier this month, the Muscular Dystrophy Association highlighted the U.S. FDA’s approval of Amgen’s UPLIZNA (inebilizumab-cdon) for adults with generalized myasthenia gravis who are both AChR- and MuSK-antibody positive, making it the first and only CD19-targeted B-cell therapy cleared for this condition.</li> <li>This approval broadens Amgen’s autoimmune footprint by extending an already-approved B-cell therapy into a third indication, potentially reinforcing the company’s efforts to diversify revenue beyond its mature bone-health and oncology franchises.</li> <li>Now we’ll examine how expanding UPLIZNA into generalized myasthenia gravis could influence Amgen’s investment narrative around pipeline breadth and diversification.</li> </ul><p>Trump's oil boom is here - pipelines are primed to profit. Discover the 22 US stocks riding the wave.</p><h2>Amgen Investment Narrative Recap</h2><p>To own Amgen, you generally need to believe that its mature franchises can fund a broad, de-risked pipeline that steadily adds new indications and therapies, while biosimilar and pricing pressures remain manageable. The UPLIZNA approval in generalized myasthenia gravis supports that diversification story, but it does not change the fact that near term, the biggest swing factor is how quickly biosimilars chip away at core bone-health revenues and how much pricing pressure compresses margins.</p> <p>Among recent developments, the FDA’s full approval of IMDELLTRA for extensive stage small cell lung cancer matters most here, because it sits alongside UPLIZNA as another example of Amgen trying to offset maturing legacy products with newer oncology and autoimmune assets. Together, these approvals highlight why upcoming readouts and launches across the pipeline may be more important to the stock’s catalyst path than any single product, even as biosimilar competition in Prolia and related franchises looms large.</p> <p>Yet, against those growth efforts, intensifying global efforts to regulate and cap drug prices remain a risk investors should be aware of, because...</p> <p>Read the full narrative on Amgen (it's free!)</p><p>Amgen’s narrative projects $37.4 billion revenue and $8.2 billion earnings by 2028.</p><p>Uncover how Amgen's forecasts yield a $322.88 fair value, a 3% downside to its current price.</p><h2>Exploring Other Perspectives</h2><figure><img height="476" src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/31cbc8de-4eae-41ee-8f03-3c01f4599a57/chart/quote-price?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="746" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/31cbc8de-4eae-41ee-8f03-3c01f4599a57/chart/quote-price"/><figcaption>AMGN 1-Year Stock Price Chart</figcaption></figure> <p>Some of the most optimistic analysts already expected Amgen to reach about US$42.8 billion in revenue and US$13.3 billion in earnings by 2028, so UPLIZNA’s new approval could either reinforce that bullish view on pipeline breadth or prompt a rethink if pricing and patent risks prove harder to offset than those forecasts assume.</p><p>Explore 5 other fair value estimates on Amgen - why the stock might be worth as much as 66% more than the current price!</p><h2>Build Your Own Amgen Narrative</h2><p>Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.</p><ul><li>A great starting point for your Amgen research is our analysis highlighting 4 key rewards and 2 important warning signs that could impact your investment decision.</li><li>Our free Amgen research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Amgen's overall financial health at a glance.</li></ul><h2>Seeking Other Investments?</h2><p>Markets shift fast. These stocks won't stay hidden for long. Get the list while it matters:</p><ul><li>The end of cancer? 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Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.     Simply Wall St has no position in any stocks mentioned.</em></p><div><p>Mobile Infrastructure for Defense and Disaster</p><p>The next wave in robotics isn't humanoid. Its fully autonomous towers delivering 5G, ISR, and radar in under 30 minutes, anywhere.</p><p>Get the investor briefing before the next round of contracts</p><p><span>Sponsored On Behalf of CiTech</span></p></div></div></div>

AMGN

<p>The FDA's approval of Amgen's UPLIZNA for generalized myasthenia gravis expands its autoimmune portfolio, reinforcing its diversification strategy. This approval, alongside IMDELLTRA for lung cancer, highlights Amgen's efforts to offset maturing products with new therapies. However, biosimilar competition and pricing pressures remain significant challenges. Analysts have mixed views on the impact of UPLIZNA's approval on Amgen's revenue and earnings forecasts. The company's narrative projects $37.4 billion revenue and $8.2 billion earnings by 2028, with a fair value estimate of $322.88 per share.</p>

Does FDA’s UPLIZNA gMG Expansion Reshape the Bull Case for Amgen’s Diversification Story (AMGN)?