Amgen’s cardiovascular drug candidate, olpasiran, faces new challenges following the failure of Novartis’s rival drug, pelacarsen, to demonstrate efficacy in reducing heart attacks and strokes among high-risk patients. This setback, announced on September 4, unexpectedly led to a sell-off of Amgen shares, which dropped by 9.1% on September 8, as investor confidence in the effectiveness of Lp(a)-lowering drugs came into question.
Morgan Stanley’s recent discussions with Amgen’s management during the 2026 Global Healthcare Conference provided insights suggesting the market’s reaction may have been overly pessimistic. The investment firm highlighted key differences between olpasiran and pelacarsen. Notably, olpasiran is designed to reduce Lp(a) levels by as much as 95% to 99%, compared to the 70% to 80% reduction achieved by pelacarsen. Furthermore, Amgen’s Phase 3 clinical trial differentiates itself by targeting patients with higher baseline Lp(a) levels and focusing on preventing heart attacks and cardiovascular deaths, excluding strokes from its primary success measures.
Despite the current market uncertainties, Amgen has reported strong revenue growth, reaching $10.05 billion in the second quarter of 2026, aided by its top-selling products like Repatha. The biotech giant is also progressing with multiple Phase 3 trials, including the obesity drug candidate MariTide, with anticipated results in the coming years.
Investing in Amgen carries risks, including increasing competition from generic drugs and potential performance issues with its new drug candidates. However, analysts maintain a neutral outlook on the company’s stock.
Bold Points:
- Why this story matters: The outcome of Amgen’s drug olpasiran could significantly impact its market position in cardiovascular treatments.
- Key takeaway: Olpasiran’s higher efficacy in lowering Lp(a) may differentiate it from rivals and affect future cardiovascular health strategies.
- Opposing viewpoint: Concerns persist regarding the performance of Lp(a)-lowering drugs following Novartis’s trial failure, affecting investor confidence.
