Looking For Growth, Income, and Stability? This Stock Could Offer All 3
Key PointsAmgen’s revenue is growing at a good clip, and it could sustain that pace despite impending patent cliffs.
Investors often seek different types of stocks to meet their goals, including growth, income, and stability. One company that combines all three attributes is Amgen (AMGN +1.15%), a leading biotech firm. In the past year, Amgen's revenue grew by 10% year-over-year, reaching $10.1 billion. Despite losing patent exclusivity for its bone medicine denosumab, Amgen's diverse product portfolio has driven sales growth.
The company has 22 products with double-digit sales growth and 17 medicines earning at least $1 billion annually. Although some high-profile products like Otezla and Enbrel face patent cliffs, new therapies like Tezspire, Tepezza, and Imdelltra are boosting Amgen's sales. The latter has recently shown promising results in treating small-cell lung cancer, potentially securing a label expansion.
Amgen's resilience during market downturns, like the 2022 and 2008 crashes, and its strong dividend growth make it an attractive option for income-focused investors. With a forward yield of 2.3%, Amgen provides a higher yield than the S&P 500's average of 1.1%.
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