This Is Why Amgen's New Cancer Drug Could Be Huge
Biotechnology stocks are famous for dramatic price movements but smart investors have been eager to scoop up shares of Amgen (NASDAQ: AMGN) for a different reason. Despite a development pipeline that few analysts would describe as prolific, investors who have held the stock over the past decade have gained more than 400% once you factor in dividends.
Despite its size, Amgen can move quickly where it matters most. On May 28, 2021, the FDA granted a highly accelerated approval to a new lung cancer therapy in record time. This is why Lumakras could allow this biotech stock to deliver oversized gains for at least another decade.
Image source: Getty Images.
Source Fool.com
