Why Amgen's Stock Is Trading Higher Today

Amgen (NASDAQ: AMGN) shares are trading higher on Wednesday after an appeals court confirmed the validity of its Enbrel patents.

Amgen is a leader in biotechnology-based human therapeutics, with historical expertise in renal disease and cancer supportive-care products.

Its flagship drugs include red blood cell boosters Epogen and Aranesp, immune system boosters Neupogen and Neulasta and Enbrel and Otezla for inflammatory diseases.

Amgen introduced its first cancer therapeutic Vectibix in 2006 and received approval for bone-strengthening drug Prolia/Xgeva in 2010.

Amgen's acquisition of Onyx bolstered the firm's therapeutic oncology portfolio with Nexavar and Kyprolis. Recent launches include Repatha (cholesterol-lowering) and Aimovig (migraine).

Amgen's shares were trading up 7.94% to $254.58 at the time of publication Wednesday. The stock has a 52-week high of $256.23 and a 52-week low of $173.12.