Who are Amgen Inc.'s (AMGN) main competitors?

By Ryan C. Fuhrmann AAA
A:

Biotech giant Amgen Inc (AMGN) bills itself as one of the first biotechnology firms. It was founded in 1980 and has grown into a firm with 20,000 employees, a market capitalization of nearly $100 billion, and approximately $20 billion in annual sales. Below is an overview of its main rivals.

Product Rivals

Any pharmaceutical or biotech firm is technically a rival to Amgen, though there is a smaller subset of rivals that sell similar drugs to Amgen. For instance, Johnson & Johnson (JNJ) sells Procrit, which is a competitor to Aranesp and Amgen’s stable of anemia treatments. Teva Pharmaceutical (TEVA) also sells an increasing array of biosimilar drugs to Aranesp Amgen’s Enbrel helps treat arthritis, which competes with AbbVie’s (ABBV) popular Humira drug. Celgene (CELG) sells Revlimid to treat myeloma and Amgen is in the process of getting into the field with the acquisition of Onyx and its Kyprolis drug, also for the treatment of myeloma.

Biotech Competition

In general, Amgen competes with other large biotech firms. Biogen Idec (BIIB) sells a number of drugs to help treat multiple sclerosis and is seeing success with the launch of a couple of drugs to treat hemophilia. Celgene sells drugs that help treat cancer and immune-inflammatory diseases. Gilead Sciences (GILD) offers a number of drugs that help patients suffering from HIV and recently released Solvadi, which has had great success in helping patients with hepatitis C infections.

The Bottom Line

A number of firms continue to muscle into Amgen’s core businesses of treating anemia, arthritis, and myeloma. Generic versions will also continue to be introduced as Amgen’s drug patents expire over time. Most investment bankers and analysts, however, still project Amgen will remain profitable over time.

At the time of writing, Ryan C. Fuhrmann is long shares of Amgen and Gilead but did not own shares in any of the other companies mentioned in this article.

RELATED FAQS

  1. What is the difference between a biotechnology company and a pharmaceutical company?

    Make better investment choices by discovering the difference between biotechnology and pharmaceutical companies, including ...
  2. What does it mean when a company in the drug sector has orphan drugs?

    Understand what it means when a company in the pharmaceutical industry has drugs within its portfolio that are designated ...
  3. What is the average price-to-earnings ratio in the drugs sector?

    Learn what the average price-to-earnings ratio is for companies operating in the drugs sector and why this metric is important ...
  4. Which other sectors benefit the most from advances in biotechnology?

    Find out how the pharmaceutical companies can benefit from advances in biotechnology with both investors and FDA approval ...
RELATED TERMS
  1. Fractal Markets Hypothesis (FMH)

    An alternative investment theory to Efficient Market Hypothesis ...
  2. Phenotype

    An organism’s observable characteristics or traits.
  3. Pharmacology

    The study of how drugs affect people. More formally, pharmacology ...
  4. Molecular Biology

    The study of biology and biological processes at the fundamental ...
  5. Genomics

    The study of the genome, which is the complete set of the genetic ...
  6. Genetic Engineering

    The artificial modification of an organism’s genetic composition. ...

You May Also Like

COMPANIES IN THIS ARTICLE
Related Articles
  1. Stock Analysis

    How Gilead Sciences Became A Big Name ...

  2. Mutual Funds & ETFs

    Buyout Cycle Boosts Biotech ETFs

  3. Stock Analysis

    What Are The Best Bets In Biotech?

  4. Investing

    Pharmaceutical Vs. Biotech Investing: ...

  5. Markets

    A Primer On The Biotech Sector

Trading Center