Amgen, one of the largest biotech companies in the world, has a strong track record of consistently increasing dividends over the past decade. With nine of its medicines generating over $1 billion in sales last year, Amgen’s success in the industry has been a key driver behind its long-term performance. While past performance is not a guarantee of future success, Amgen’s commitment to growing its payouts is evident in its impressive dividend track record.
Looking ahead, Amgen is focusing on developing innovative medicines, particularly in the field of weight loss therapies. While currently trailing behind leaders in the industry, Amgen’s phase 2 asset, MariTide, shows promise in helping patients reduce and maintain body weight over an extended period. With a deep pipeline of candidates in various stages of development, Amgen is strategically positioned to capitalize on growth opportunities in the biotech industry.
Additionally, Amgen’s recent acquisition of Horizon Therapeutics, which included the drug Tepezza for thyroid eye disease, demonstrates the company’s ability to leverage acquisitions to enhance its product portfolio. With a solid underlying business and a commitment to expanding its lineup of approved drugs, Amgen is poised to continue growing its revenue and earnings. For long-term investors seeking a top dividend growth stock, Amgen presents a compelling opportunity.