Amgen Faces Lawsuit Over Discount Drug Sales Termination
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 21 Jan 26
Source: Benzinga
Amgen Inc's stock rose 3.65% and reached a 20-day high amid positive market conditions, with the Nasdaq-100 and S&P 500 both showing strong gains.
However, the company is facing a lawsuit from Sagebrush Health Services, which claims Amgen unlawfully terminated discounted drug sales, impacting its ability to serve over 10,000 patients. The lawsuit seeks over $7 million in damages and alleges that Amgen's actions compromised patient access to care by unilaterally determining ineligibility for the 340B Program without following federal processes.
This legal challenge could pose risks to Amgen's reputation and financial standing, potentially affecting investor confidence despite the current stock performance.
Analyst Views on AMGN
Wall Street analysts forecast AMGN stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for AMGN is 345.87 USD with a low forecast of 272.00 USD and a high forecast of 425.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
19 Analyst Rating
11 Buy
7 Hold
1 Sell
Moderate Buy
Current: 351.320
Low
272.00
Averages
345.87
High
425.00
Current: 351.320
Low
272.00
Averages
345.87
High
425.00
About AMGN
Amgen Inc. is a biotechnology company. It discovers, develops, manufactures and delivers medicines for the toughest diseases. It focuses on areas of high unmet medical need and leverages its expertise to strive for solutions that improve people’s lives. It operates in the human therapeutics segment. Its marketed products portfolio includes EPOGEN (epoetin alfa); Aranesp (darbepoetin alfa); Parsabiv (etelcalcetide); Neulasta (pegfilgrastim); KANJINTI (trastuzumab-anns); Otezla; BLINCYTO (blinatumomab); ACTIMMUNE (interferon gamma-1b); Neulasta (pegfilgrastim); Sensipar/Mimpara (cinacalcet); Prolia (denosumab); ENBREL; QUINSAIR (levofloxacin); Repatha (evolocumab) and others. It markets ENBREL, a tumor necrosis factor blocker, in the United States and Canada. It markets Otezla, a small molecule that inhibits phosphodiesterase 4, in many countries around the world. It markets Repatha, a proprotein convertase subtilisin/kexin type 9 (PCSK9) inhibitor, in many countries around the world.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
