Otezla Is Amgen’s Main Growth Driver As Net Drug Pricing Declines
Without the newly purchased drug, Amgen’s 2020 sales would be flat, but the company hopes to enhance its psoriasis market push with its combined offering of Otezla, Enbrel and biosimilars.
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Big pharma stocks, with few exceptions, saw big declines in valuation in the quarter amid the COVID-19 stock market rollercoaster, but pharma outperformed the S&P 500, showing the industry's resiliency in a global health crisis.
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