Amgen rated Buy on strong growth, pipeline, and Tepezza trial success despite patent risks.

Amgen Inc. is rated a solid Buy due to strong revenue growth, a diverse late-stage drug pipeline, and recent FDA approvals. The success of Tepezza's Phase 3 subcutaneous trial strengthens its position in the Thyroid Eye Disease market, potentially expanding patient access and chronic use. Amgen's 2026 guidance forecasts $37–$38.4 billion in revenue and non-GAAP EPS of $21.6–$23. However, Tepezza may face competition from Viridian Therapeutics' upcoming therapies, which could impact market dynamics. Overall, Amgen's growth prospects remain robust despite looming patent expirations on older drugs.