New York, Feb 7, 2026, 17:15 EST — Market’s done for the day.
- Amgen finished Friday’s session up roughly 4.5%, settling at $384.32.
- Starting April 1, CVS Caremark will pull Amgen’s Prolia off certain preferred drug lists, swapping in biosimilars instead.
- Next week, traders are eyeing key inflation figures and any fresh U.S. drug-pricing developments.
Amgen Inc ended Friday up 4.5% at $384.32, notching a fresh 52-week high as the stock extended its rally to a third straight session. 1
This move throws Amgen’s stock into the crosshairs of two competing currents: pressure from payers on fading blockbusters, and a spotlight on the company’s longer-term growth stories. CVS Health announced its Caremark PBM will cut Amgen’s osteoporosis treatment Prolia, along with Eli Lilly’s Forteo, from select preferred drug lists as of April 1, making room for cheaper biosimilars and generics. 2
Drug pricing’s back in focus. President Donald Trump rolled out TrumpRx.gov, a new site designed to help people paying out of pocket find lower prices on prescription drugs. Amgen’s Repatha, a cholesterol treatment, is one of the drugs on the list, according to Reuters. “There is a real question about the value of this for people with insurance,” Juliette Cubanski, deputy director for Medicare policy at KFF, said. 3
Amgen beat Wall Street forecasts earlier this week and kept the spotlight on its obesity drug efforts. Murdo Gordon, who runs commercial operations, pointed to “dissatisfaction with the weekly GLP-1s” and described MariTide—a long-acting contender under study for dosing as little as every three months—as “a paradigm-changing opportunity.” Over at Citi Research, analyst Geoffrey Meacham saw the outlook as offering only “modest upside.” 4
Amgen wrapped up Friday in a spot that suggests shareholders aren’t eager to dump the stock. That mood can stick around—or disappear in a hurry if a new headline targets a key product.
Prolia is feeling the heat right now. Biosimilars—these are almost-but-not-quite clones of biologic drugs, since they’re derived from living cells—aren’t true generics, but once coverage changes, payers usually lump them together just the same.
Caremark’s move shows just how swiftly pharmacy benefit managers, those middlemen who shape insurers’ drug lists, can steer demand toward lower-cost drugs. When the tiers shift, manufacturers typically end up slashing prices, bumping up rebates, or doing both.
Still, the positive case comes down to how well the clinical work goes. MariTide is deep in late-stage trials right now. Obesity drugs often trigger big share moves on even minor updates about dosing or side effects—so if results let down, some of the stock’s recent gains could vanish fast.
Investors on Monday are eyeing Amgen to see if shares can stay north of $380, with attention also on whether upcoming earnings from other drugmakers or remarks from payers spark moves across big pharma. The next U.S. consumer price index lands Feb. 13 at 8:30 a.m. ET — a release that often jolts bond yields and resets expectations for defensive sectors like healthcare. 5
Looking past that, April 1 stands out: that’s when Caremark’s formulary changes kick in, offering an early read on how swiftly biosimilars start eating into Prolia demand.
