Amgen's stock dropped nearly 6% following the announcement of promising heart attack prevention results from its cholesterol drug, Repatha, despite a recent 27% increase over the past year. Jim Cramer continues to show confidence in the company, emphasizing its strong operational performance after reporting better-than-expected earnings. However, the retirement of Chief Technology Officer David M. Reese introduces uncertainty, as analysts express mixed feelings about the stock's future.
“Jim Cramer breaks down why he's keeping an eye on shares of Amgen.”
“Jim Cramer breaks down why he's keeping an eye on shares of Amgen ... AMGN.”
“Then this past weekend, the company announced some very promising heart attack prevention results from a phase 3 clinical trial of Repatha, that’s the cholesterol drug.”
“This stock’s up roughly 20% from its late September lows, including a monster run last week when Amgen reported spectacularly better than expected quarter.”
“When Amgen published this data on Monday afternoon, the stock dropped an incredible 15 points in just a few minutes, finishing the day down almost 6%.”
“Cramer mentioned the company during the June 25 episode and said: “Unlike Mounjaro or Ozempic, which needed to be injected once a week, Amgen’s MariTide is one shot per month. I prefer monthly over weekly when it comes to injections any day...”
“AMGEN ANNOUNCES RETIREMENT OF DAVID M. REESE, EXECUTIVE VICE PRESIDENT AND CHIEF TECHNOLOGY OFFICER.”
“Cramer also mentioned Repatha again: “I’ve got Amgen, they’ve got a, they have something that is going to be used for weight but the really big thing is Repatha, which is their drug for cholesterol. It’s very important.””
“Blown away by this disappointing Amgen story...”
“Amgen CEO Bob Bradway joins ‘Mad Money’ host Jim Cramer to talk its rare disease business, its weight-loss drug offering, what is in Amgen’s pipeline, and more.”
“In a separate program, Cramer recommended investors buy Johnson & Johnson and Amgen Inc. for their dividends.”
“Late-stage trial data showed that Amgen’s cholesterol drug cut the risk of a first heart attack by 36% and the risk of major cardiovascular events by 25%.”
