Amgen Inc. stock (US0311621009): EU lung cancer approval draws focus as shares hold near USD 330

Amgen Inc. shares on Nasdaq hovered around USD 330 on 06/03/2026 as investors assessed the European Commission’s approval of lung cancer drug Imdelltra and its potential impact on the company’s oncology franchise and revenue mix.

Amgen Inc. shares on the Nasdaq Global Select Market traded around the USD 330 mark on 06/03/2026 as investors digested a fresh European regulatory milestone and its implications for the United States-based biotechnology group’s growth profile.

The stock opened at USD 328.26 on 06/03/2026 in New York, according to MarketBeat price data as of that day, placing it moderately below its 52-week high of USD 391.25 reported by Business Insider for the same period.

Amgen, which is headquartered in Thousand Oaks, California, and forms part of the large-cap US biotech cohort on the Nasdaq under the ticker AMGN, has drawn renewed attention after the European Commission granted marketing authorization for its antitumor medicine Imdelltra (tarlatamab) in small cell lung cancer.

On 06/02/2026, Amgen announced that it had secured European Union approval for Imdelltra for adults with extensive-stage small cell lung cancer whose disease has progressed on or after platinum-based chemotherapy, following a positive opinion and supporting data from the Phase 3 DeLLphi-304 trial, according to coverage by GuruFocus and Simply Wall St citing company disclosures.

The DeLLphi-304 study data highlighted in those reports showed that tarlatamab reduced the risk of death by about 40% versus standard chemotherapy, with median overall survival of 13.6 months compared with 8.3 months in the control arm, underscoring the drug’s potential to shift treatment standards in this second-line setting if the benefit is perceived as clinically meaningful by oncologists.

Market commentary has linked this regulatory win in Europe to growing expectations for Amgen’s oncology pipeline, even as the stock’s recent trading has been relatively range-bound, with MarketBeat data showing a closing level of USD 328.26 on 06/02/2026 and modest moves in premarket activity on 06/03/2026.

Within the United States, Amgen’s primary listing remains on Nasdaq under the symbol AMGN, and the company is a key constituent of major US healthcare and biotechnology benchmarks, helping anchor domestic investor interest alongside international demand following the latest European regulatory outcome.

For investors accessing the stock from Germany, Amgen is additionally available on platforms such as Tradegate and Frankfurt in euro terms, offering another liquidity pool for European retail participants tracking developments like the Imdelltra approval.

While the immediate share price reaction to the European Commission decision has been measured, the event is significant for Amgen’s strategy to broaden revenue contributions from newer oncology assets as legacy products in other therapeutic areas face ongoing competition and, in some cases, biosimilar pressure.

As of: 03.06.2026

By the editorial team - specialized in equity coverage.

At a glance

• Name: Amgen Inc.
• Sector/industry: Biotechnology and biopharmaceuticals
• Headquarters/country: Thousand Oaks, United States
• Core markets: United States, European Union, Japan and other international regions
• Key revenue drivers: Biologic therapies in oncology, inflammation, bone health, cardiovascular disease and rare diseases, supplemented by a growing pipeline of oncology and immunology assets
• Home exchange/listing venue: Nasdaq Global Select Market (AMGN)
• Trading currency: USD

Amgen Inc.: core business model

Amgen primarily develops and commercializes innovative biologic drugs across oncology, inflammation and other specialty disease areas, with revenue largely underpinned by sales of its key biologic franchises and the progressive launch of new pipeline products such as tarlatamab.

Amgen Inc. in peer comparison

In the global large-cap biotechnology universe, Amgen is often viewed alongside peers such as Gilead Sciences, Bristol Myers Squibb and Merck when investors assess oncology portfolios, late-stage pipelines and exposure to immunology and cardiovascular indications.

Gilead Sciences, which is listed on Nasdaq under the ticker GILD, combines a leading antiviral and HIV portfolio with oncology assets like Trodelvy, and has reported annual revenue in the mid-USD 20 billion range in recent years, reflecting a diversified mix of virology and cancer therapies.

Bristol Myers Squibb, traded on the New York Stock Exchange as BMY, brings a broad immuno-oncology offering including Opdivo and Yervoy, along with hematology drugs such as Revlimid, and has generated more than USD 45 billion in yearly sales in recent reporting periods, putting it ahead of Amgen in aggregate revenue scale but with a different portfolio composition.

Merck, listed in the United States as MRK on the New York Stock Exchange, is another key comparator due to its blockbuster immunotherapy Keytruda, which has become one of the world’s top-selling cancer treatments and contributed to total company revenue exceeding USD 60 billion in recent years, illustrating the financial impact a single dominant oncology asset can have relative to diversified portfolios like Amgen’s.

Against this backdrop, Amgen’s approval for Imdelltra in extensive-stage small cell lung cancer in the European Union could help narrow the perceived oncology momentum gap with some peers if the drug gains strong clinical uptake, particularly given the competitive landscape that includes medicines from Roche, AstraZeneca and Merck in lung cancer.

However, in terms of pure-market capitalization and revenue base, Amgen still sits somewhat below diversified pharmaceutical giants such as Merck and Bristol Myers Squibb, while maintaining a more focused biotechnology profile than broad-based pharma conglomerates, which can be a differentiating factor for investors comparing risk and growth characteristics across the sector.

Conclusion

The European Commission’s decision on 06/02/2026 to approve Imdelltra for extensive-stage small cell lung cancer adds a notable new element to Amgen’s growth narrative, even if the share price around USD 330 on Nasdaq suggests a measured near-term market response.

In peer comparison, Amgen remains smaller in overall revenue than global pharma leaders like Merck and Bristol Myers Squibb but is using oncology assets such as tarlatamab to deepen its presence in cancer care, which could influence how investors weigh its risk-reward profile against other large-cap biotech and pharmaceutical names over time.

Disclaimer: This article does not constitute investment advice. The comprehensive scope of this informative article was made possible through the use of a.i.. Stocks are volatile financial instruments.