Amgen stock gains as Tavneos faces a UK setback
Published on 09/02/2026 at 15:41 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
Amgen Inc. (US0311621009) stock trades around USD 436.45, up 1.53 percent, with a market capitalization of USD 236.25 billion as of September 1, 2026. The move comes after a UK regulator report said the Medicines and Healthcare products Regulatory Agency suspended new-patient use of Tavneos and plans to revoke approval on March 1, 2027.
Q2 numbers still drive the story
Yahoo Finance shows Amgen's most recent quarter as June 30, 2026, with revenue of USD 38.09 billion over the trailing 12 months, diluted EPS of USD 16.09 and EBITDA of USD 17.27 billion. The same page also puts quarterly revenue growth at 9.50 percent, while quarterly earnings growth reached 65.90 percent.
That mix matters because Amgen is trading near its 52-week high of USD 447.03 and well above its 52-week low of USD 269.77. The stock is also 49.83 percent higher over the past 52 weeks, which gives the market reaction a clear valuation backdrop.
Margins are the lever
On the same valuation page, operating margin is listed at 35.55 percent and gross margin at 69.52 percent for Q2 2026, while total debt stands at USD 57.3 billion and total cash at USD 13.99 billion as of June 30, 2026. Forward P/E is shown at 19.49, below the trailing P/E of 27.14.
For investors, the comparison is simple: revenue growth of 9.50 percent and earnings growth of 65.90 percent are doing more work than the drug headline alone. The chart is extended, but the latest quarter still leaves room for debate on how much of the move is already priced in.
Amgen products and the Q2 base
Amgen's portfolio mix is back in the spotlight after the Tavneos decision, while the June 30, 2026 quarter keeps the cash and margin profile visible.
Tavneos stays in view
Tavneos, also sold as avacopan Vifor in Britain, is the product now carrying the regulatory burden, and the UK action extends to existing patients over a six-month transition period. The regulatory timeline stretches to March 1, 2027, which means the market is now weighing headline risk against the broader June 30, 2026 earnings base.
Stock near its range high
Amgen stock is trading at USD 436.45 as of September 1, 2026, just below the 52-week high of USD 447.03. The 52-week low is USD 269.77, which shows how much the share price has already reset over the past year.
Amgen at a glance
- Company: Amgen Inc.
- ISIN: US0311621009
- Ticker: AMGN
- Trading venue: NasdaqGS
- Price (as of September 1, 2026): USD 436.45
- Market capitalization: USD 236.25 billion (as of September 1, 2026)
- Sector / Industry: Health Care / Biotechnology
- Index membership: Nasdaq-100, S&P 500
