Giles Coghlan LLB, Lth, MA
Financial Source
Amgen is a multinational biopharmaceutical company that specializes in the development and manufacturing of innovative therapies to treat serious illnesses. The company is focused on using advanced biotechnology and scientific research to address some of the most complex medical conditions, including cancer, cardiovascular disease, kidney disease, inflammatory diseases, and bone disorders.
As a healthcare stock, the company can potentially weather any tougher US financial conditions that may be ahead. This is because even during a recession, healthcare needs are still prioritized, supporting healthcare stocks.
Over the last 20 years, Amgen’s share price has risen 85% of the time between May 31 and July 29, with an average return of 9.14% and an annualized return of over 72%. So, in the face of worries over a looming US recession, is Amgen a healthcare stock worth considering?
Major trade risks: The biggest risk here is if Congress fails to pass the US debt ceiling talks in a timely manner. This could potentially send US stocks into a freefall.
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