Amgen Stock Tumbles on Olpasiran Program Concerns Following Novartis Trial Failure

Amgen's stock plummeted by over 10% on Tuesday after concerns arose regarding the outlook for its olpasiran program following a late-stage cardiovascular trial failure at Novartis.

The decline, which saw the stock close at $393.17, down $44.06 from its prior close, was accompanied by volume nearly three times its one-month average.

The setback comes as Amgen's olpasiran program faces scrutiny in light of Novartis' failed cardiovascular trial results.