A federal judge blocked Colorado's plan to impose a 70% price cap on Amgen's blockbuster arthritis drug Enbrel, halting a significant state-level pricing move. The ruling eased concerns that aggressive state pricing limits on Enbrel could spread more widely, reducing a key regulatory overhang for Amgen's portfolio. Amgen has reaffirmed its 2026 revenue guidance of US$37.1 billion to US$38.5 billion and GAAP EPS of US$15.62 to US$17.10. The company's narrative projects US$40.1 billion in revenue and US$9.9 billion in earnings by 2029, requiring 2.5% yearly revenue growth and a US$2.1 billion earnings increase from US$7.8 billion today. Some optimistic analysts were already assuming revenue could reach about US$44.4 billion and earnings US$13.2 billion by 2029, far more upbeat than consensus.
Amgen IncFederal judge blocked Colorado's 70% price cap on Enbrel, removing a key regulatory overhang for Amgen.