What’s Going on with Amgen?
Yesterday, Sept. 20, Amgen (AMGN) announced that the U.S. District Court for the District of New Jersey has ruled on a patent case related to Otezla (apremilast). The infringement lawsuit was brought against Sandoz Inc. and Zydus Pharmaceuticals. Before market open today, AMGN stock was trading at $216.03 per share, representing a slight 0.43% uptick in price.
What Does This Mean for AMGN?
The U.S. District Court for the District of New Jersey upheld the patents protecting Amgen's psoriasis therapy Otezla. The court’s ruling, according to Amgen, “will prevent Sandoz and Zydus from making, using, selling, offering to sell, or importing each of their generic versions of Otezla” up until the time U.S. Patent No. 7,427,638, expires, which is in Feb. 2028.
“The court found infringement and upheld the validity of four patents – three against each defendant,” although the court did also rule against Amgen on claims concerning U.S. Patent No. 10,092,541, which covers dosing schedule methods for treating psoriasis with apremilast.
Otezla was designed to treat people with moderate-to-severe plaque psoriasis who are candidates for phototherapy or systemic therapy, as well as “adult patients with active psoriatic arthritis and adult patients with oral ulcers associated with Behçet's Disease [inflammation of blood vessels and tissues].”
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Amgen is a leader in biotechnology-based human therapeutics, with historical expertise in renal disease and cancer supportive-care products. Flagship drugs include red blood cell boosters Epogen and Aranesp, immune system boosters Neupogen and Neulasta, and Enbrel and Otezla for inflammatory diseases. Amgen introduced its first cancer therapeutic, Vectibix, in 2006 and markets bone-strengthening drug Prolia/Xgeva (approved 2010) and Evenity (2019). The acquisition of Onyx bolstered the firm's therapeutic oncology portfolio with Nexavar and Kyprolis. Recent launches include Repatha (cholesterol-lowering), Aimovig (migraine), and Lumakras (lung cancer). Amgen's biosimilar portfolio includes Mvasi (biosimilar Avastin), Kanjinti (biosimilar Herceptin), and Amgevita (biosimilar Humira).
