We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Amgen Buys Dark Blue Therapeutics to Strengthen Oncology Pipeline
Read MoreHide Full Article
Key Takeaways
Amgen acquired Dark Blue Therapeutics for about $840M, strengthening its oncology pipeline.
AMGN gains a preclinical small-molecule degrader targeting MLLT1/3 proteins tied to certain AML types.
Amgen has no marketed AML therapy, but sells Blincyto for ALL and has early AML bispecifics.
Amgen (AMGN - Free Report) announced that it has acquired U.K.-based private biotech company, Dark Blue Therapeutics, for approximately $840 million.
The acquisition will strengthen Amgen’s oncology pipeline by adding Dark Blue’s preclinical, targeted small-molecule degrader, which degrades two proteins (MLLT1/3) that drive specific types of acute myeloid leukemia (AML). These differentiated molecules have shown promising anti-cancer activity in pre-clinical studies and are designed to treat certain types of AML.
Amgen does not currently market any therapy for treating AML. However, it does have Blincyto in its portfolio that is approved to treat another leukemia indication - acute lymphoblastic leukemia (ALL). It also has some bispecific T-cell engagers directed at AML targets in its early clinical pipeline.
Amgen’s stock has risen 25% in the past year compared with an increase of 14.2% for the industry.
Image Source: Zacks Investment Research
Amgen’s Strong Presence in Oncology
Amgen boasts an innovative oncology portfolio, including drugs like Blincyto, Imdelltra, Lumakras, Vectibix, Kyprolis, Nplate and Xgeva. It also markets some oncology biosimilars like Kanjinti (a biosimilar of Roche’s Herceptin) and Mvasi (a biosimilar of Roche’s Avastin)
Key candidates in its late-stage oncology pipeline are bemarituzumab, an FGFR inhibitor for first-line gastric cancer and xaluritamig, a bispecific T-cell engager, for metastatic castrate-resistant prostate cancer. Several phase III studies are also ongoing on the marketed drug, Imdelltra (tarlatamab), in earlier-line settings across extensive-stage and limited-stage small cell lung cancer. Phase III studies are also ongoing to evaluate biosimilar versions of Bristol-Myers’ Opdivo (ABP 206), Merck’s Keytruda (ABP 234) and Roche’s Ocrevus (ABP 692).
Pfizer boasts a strong portfolio of approved cancer medicines as well as a robust pipeline of cancer candidates. The addition of Seagen in 2023 also strengthened its position in oncology by adding four ADCs — Adcetris, Padcev, Tukysa and Tivdak. Oncology sales comprise around 28% of its total revenues. Its oncology revenues have risen 7% in the first nine months of 2025, driven by drugs like Xtandi, Lorbrena, the Braftovi-Mektovi combination and Padcev, which made up for declining sales of drugs like Ibrance.
For AstraZeneca, oncology sales now comprise around 43% of total revenues. Sales in its oncology segment rose 16% in the first nine months of 2025. AstraZeneca’s strong oncology performance was driven by medicines such as Tagrisso, Lynparza, Imfinzi, Calquence and Enhertu (in partnership with Daiichi Sankyo).
Merck’s key oncology medicines are PD-LI inhibitor, Keytruda and PARP inhibitor, Lynparza, which it markets in partnership with AstraZeneca. Keytruda, approved for several types of cancer, alone accounts for more than 50% of Merck’s pharmaceutical sales. Keytruda recorded sales of $23.3 billion in the first nine months of 2025, up 8% year over year.
Bristol-Myers’ key cancer drug is PD-LI inhibitor, Opdivo, which accounts for around 20% of its total revenues. Opdivo’s sales rose 8% to $7.54 billion in the first nine months of 2025.
J&J’s oncology sales now comprise around 27% of its total revenues. Its oncology sales rose 20.6% on an operational basis in the first nine months to $18.52 billion. While J&J’s older cancer drugs, multiple myeloma treatment Darzalex and prostate cancer drug, Erleada, are key contributors to its top-line growth, new drugs such as Carvykti, Tecvayli, Talvey and Rybrevant, plus Lazcluze, hold the key for long-term growth.
Image: Shutterstock
Amgen Buys Dark Blue Therapeutics to Strengthen Oncology Pipeline
Key Takeaways
Amgen (AMGN - Free Report) announced that it has acquired U.K.-based private biotech company, Dark Blue Therapeutics, for approximately $840 million.
The acquisition will strengthen Amgen’s oncology pipeline by adding Dark Blue’s preclinical, targeted small-molecule degrader, which degrades two proteins (MLLT1/3) that drive specific types of acute myeloid leukemia (AML). These differentiated molecules have shown promising anti-cancer activity in pre-clinical studies and are designed to treat certain types of AML.
Amgen does not currently market any therapy for treating AML. However, it does have Blincyto in its portfolio that is approved to treat another leukemia indication - acute lymphoblastic leukemia (ALL). It also has some bispecific T-cell engagers directed at AML targets in its early clinical pipeline.
Amgen’s stock has risen 25% in the past year compared with an increase of 14.2% for the industry.
Image Source: Zacks Investment Research
Amgen’s Strong Presence in Oncology
Amgen boasts an innovative oncology portfolio, including drugs like Blincyto, Imdelltra, Lumakras, Vectibix, Kyprolis, Nplate and Xgeva. It also markets some oncology biosimilars like Kanjinti (a biosimilar of Roche’s Herceptin) and Mvasi (a biosimilar of Roche’s Avastin)
Key candidates in its late-stage oncology pipeline are bemarituzumab, an FGFR inhibitor for first-line gastric cancer and xaluritamig, a bispecific T-cell engager, for metastatic castrate-resistant prostate cancer. Several phase III studies are also ongoing on the marketed drug, Imdelltra (tarlatamab), in earlier-line settings across extensive-stage and limited-stage small cell lung cancer. Phase III studies are also ongoing to evaluate biosimilar versions of Bristol-Myers’ Opdivo (ABP 206), Merck’s Keytruda (ABP 234) and Roche’s Ocrevus (ABP 692).
Competition in the Oncology Space
Other large players in the oncology space are Pfizer (PFE - Free Report) , AstraZeneca (AZN - Free Report) , Merck, J&J (JNJ - Free Report) and Bristol-Myers.
Pfizer boasts a strong portfolio of approved cancer medicines as well as a robust pipeline of cancer candidates. The addition of Seagen in 2023 also strengthened its position in oncology by adding four ADCs — Adcetris, Padcev, Tukysa and Tivdak. Oncology sales comprise around 28% of its total revenues. Its oncology revenues have risen 7% in the first nine months of 2025, driven by drugs like Xtandi, Lorbrena, the Braftovi-Mektovi combination and Padcev, which made up for declining sales of drugs like Ibrance.
For AstraZeneca, oncology sales now comprise around 43% of total revenues. Sales in its oncology segment rose 16% in the first nine months of 2025. AstraZeneca’s strong oncology performance was driven by medicines such as Tagrisso, Lynparza, Imfinzi, Calquence and Enhertu (in partnership with Daiichi Sankyo).
Merck’s key oncology medicines are PD-LI inhibitor, Keytruda and PARP inhibitor, Lynparza, which it markets in partnership with AstraZeneca. Keytruda, approved for several types of cancer, alone accounts for more than 50% of Merck’s pharmaceutical sales. Keytruda recorded sales of $23.3 billion in the first nine months of 2025, up 8% year over year.
Bristol-Myers’ key cancer drug is PD-LI inhibitor, Opdivo, which accounts for around 20% of its total revenues. Opdivo’s sales rose 8% to $7.54 billion in the first nine months of 2025.
J&J’s oncology sales now comprise around 27% of its total revenues. Its oncology sales rose 20.6% on an operational basis in the first nine months to $18.52 billion. While J&J’s older cancer drugs, multiple myeloma treatment Darzalex and prostate cancer drug, Erleada, are key contributors to its top-line growth, new drugs such as Carvykti, Tecvayli, Talvey and Rybrevant, plus Lazcluze, hold the key for long-term growth.
AMGN’s Zacks Rank
Amgen is a Zacks Rank #3 (Hold) stock. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.