AMGN · News · 20260917N

Lp(a) Drug Pipeline Risk

AMGEN INC · 2026-09-17 · Importance 34 · Surprise 42

Novartis’s pelacarsen trial failed to meet its primary endpoint for reducing cardiovascular events, increasing clinical and regulatory uncertainty for the Lp(a)-lowering drug class. Amgen’s olpasiran faces heightened scrutiny because its development program has a similar trial design, and UBS lowered its price target for Amgen to $430 from $440 while maintaining a Buy rating. Amgen may need exceptionally strong cardiovascular event-reduction data to establish olpasiran’s clinical and commercial viability, potentially affecting the product’s market opportunity and valuation.

Key facts

• The failure of Novartis' pelacarsen trial raises scientific and regulatory hurdles for the entire Lp(a) drug class, meaning Amgen will need to demonstrate exceptionally strong event-reduction data to prove olpasiran's clinical and commercial viability. source
• UBS lowered its price target for Amgen to $430 from $440 while maintaining a Buy rating, citing concerns about the commercial prospects of Amgen's drug olpasiran after a competitor's drug trial failed to meet its primary endpoint. source
• Amgen's olpasiran faces a more direct negative comparison to Novartis' pelacarsen because olpasiran has a similar trial design. source