Movement Alert｜Amgen Falls 3.02% in Regular Trading, FDA Proposes Withdrawal of Rare Disease Drug Over Fatal Liver Injury Cases

Market Focus06-01

On June 1, Amgen fell 3.02% in regular trading, trading at $326.35/share, with trading volume of $171 million.

On the news front, the U.S. Food and Drug Administration has proposed revoking market approval for Amgen's rare disease drug avacopan capsules (marketed as Tofernity) due to liver injury-related death cases. The regulatory action represents a significant setback for the company's rare disease portfolio. Amgen China responded that although the drug received approval from China's NMPA in November 2024, it has not yet been commercially launched domestically and no patients in China have received treatment with the medication.

Within the Biotechnology sector, individual stocks showed mixed performance. BridgeBio Pharma fell 0.15%, AbbVie declined 2.31%, and Summit Therapeutics dropped 5.59%, while Revolution Medicines rose 2.08% and Hyperliquid Strategies gained 9.46%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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