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MarketBeat
MarketBeat
Chris Markoch

Amgen Drops 10% on a Trial It Didn't Even Run

Amgen AMGN Novartis MarketBeat

Amgen Inc. (NASDAQ: AMGN) delivered a strong earnings report on Aug. 4. AMGN stock rose approximately 17% from the Aug. 4 close through early September before reversing sharply.

One of the highlights of Amgen’s report was Repatha, Amgen's approved PCSK9 drug, which posted $953 million in Q2 2026 revenue, a 37% year-over-year increase. But those gains have mostly been erased due to what can only be labeled as guilt by association.

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