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Why Amgen's Stock Soared in October

TheMotleyFool

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Shares of the biotech giant Amgen (NASDAQ: AMGN) jumped by 10.4% over the course of October, according to data from S&P Global Market Intelligence.

What fueled this double-digit breakout? Healthcare stocks in general posted strong gains in October, thanks to the growing optimism that the trade war with China might be nearing an end, combined with the real possibility that the long-awaited drug pricing reforms in the U.S. may turn out to be fairly mild at the end of the day. Amgen's stock clearly benefited from this sectorwide upswing last month.

Image source: Getty Images.

Source Fool.com

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