Amgen Shares Fall as Investors Assess Novartis Lp(a) Trial Result and BMO Downgrade

Amgen's shares dropped by 4.7% in premarket trading following Novartis' announcement of a Phase III trial failure for its Lp(a)-lowering treatment, pelacarsen, and a downgrade from BMO Capital. While Amgen is developing its own Lp(a)-targeting therapy, olpasiran, the Novartis outcome has raised investor questions about the efficacy of Lp(a) reduction in preventing cardiovascular events. BMO Capital downgraded Amgen due to its significant year-to-date share price increase and potential future hea