Amgen joins TrumpRx — steep discounts on select biologics
Key Questions
What is TrumpRx and how has it expanded with Amgen?
TrumpRx is a program offering steep discounts on select prescription drugs through direct-to-consumer listings. With Amgen joining, the listings have expanded from 54 to 61 drugs, including additions from AbbVie, Roche, Genentech, and prior participants like GSK.
Which Amgen drugs are now available on TrumpRx and at what prices?
Amgen's Amjevita is listed at $299, about 80% off and exempt as a biosimilar. Repatha is $239 per month, and Aimovig is approximately 62% off.
What other companies are participating in TrumpRx?
Peers including GSK, BMS, AbbVie, and Roche are joining, with AbbVie and Roche adding drugs like Enbrel and Otezla alongside Genentech.
What are the details on the new pharma tariffs announced by the White House?
On April 2, under Section 232, the White House announced 100% tariffs on patented drugs and APIs effective July 31. Amgen faces phased tariffs under Annex III, with biosimilars and ADCs exempt.
Has Amgen withdrawn from any international pricing programs?
Amgen has withdrawn Repatha from Denmark's Most Favored Nation (MFN) pricing program.
What do analysts say about Amgen stock following these developments?
RBC Capital maintains a Buy rating with a $370 price target. Zacks ranks it #2 Buy, with consensus at Moderate Buy and $369 target.
What risks are associated with Amgen's participation in TrumpRx?
Potential risks include volume growth versus margin compression and impacts on free cash flow, especially ahead of the April 30 Q1 earnings.
How is Amgen performing relative to other medical stocks?
Amgen has attracted investor attention with recent stock performance and outlook, potentially outperforming other medical stocks this year amid these developments.
DTC listings expanded to 61 drugs (AbbVie/Roche adds incl Enbrel/Otezla w/Genentech/AbbVie, prior 54 w/GSK): Amjevita $299 (~80% off, biosim exempt); Repatha $239/mo, Aimovig ~62% off. Repatha Denmark MFN withdrawal; peers GSK/BMS/AbbVie/Roche joining. White House Apr2 Section 232: 100% tariffs patented drugs/APIs Jul31, Amgen Annex III phased, biosims/ADC exempt (Barron's); RBC PT $370. Volume vs margin/FCF risks pre-Apr30 Q1; Zacks #2 Buy, consensus Moderate Buy $369.