Can Amgen, Inc. (AMGN) Thrive on Beating Melanoma?

That’s not quite blockbuster status — particularly for a company that reported sales of more than $16.6 billion last year — but $500 million will help mitigate the patent losses of some of Amgen’s top sellers. Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA) has already begun marketing a generic biosimilar of Neupogen in Europe, and the company will be able to launch its version of the best-selling drug in the U.S. starting in November of this year. While Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA)’s version of Neupogen has captured little market share so far, even a slight gain on Amgen’s product can cut into the drug’s revenue, which along with Neulasta totaled more than $5.3 billion last year.

Another solid portfolio gain
Investors shouldn’t expect ground-breaking sales from T-Vec, but the drug’s preliminary results make me confident that Amgen, Inc. (NASDAQ:AMGN)’s melanoma treatment will be approved as long as it can translate this interim data to its final results. The $500 million in peak sales might not send Amgen’s stock surging, but it’s another addition to this company’s sturdy pharmaceutical portfolio that will help reduce any future losses from patent expirations. T-Vec may not be the catalyst that will spark a soaring stock, but it will help keep Amgen’s financial foundation stable — and for long-term investors, that’s nothing to fret.

The article Can Amgen Stock Thrive on Beating Melanoma? originally appeared on Fool.com and is written by Dan Carroll.

Fool contributor Dan Carroll has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned.

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