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NEW YORK (TheStreet) -- Amgen  (AMGN) - Get Amgen Inc. Report stock is up 1.73% to $162.67 in early afternoon trading on Monday, after CVS Health (CVS) announced that it would carry Amgen's cholesterol-lowering injections.

The Thousand Oaks, CA-based bio-technology company's treatment for cholesterol, called Repatha, was approved by the Food and Drug Administration in August.

It will be the only cholesterol-lowering injection treatment offered at Caremark, which is the prescription benefit management subsidiary for CVS.

The new class of cholesterol-lowering injections are known for their high costs, the Wall Street Journal reports.

Choosing a single treatment provider will allow CVS to get the best possible price for clients, CVSsaid in a statement.

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"Ensuring access to Repatha for appropriate patients is among Amgen's highest priorities, and we are delighted that CVS Health has granted Repatha a preferred position on their commercial formularies," said Anthony Hooper, Amgen's executive VP of global commercial operations, in a statement.

Separately, TheStreet Ratings team rates AMGEN INC as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:

We rate AMGEN INC (AMGN) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, impressive record of earnings per share growth, compelling growth in net income, reasonable valuation levels and good cash flow from operations. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook.

Highlights from the analysis by TheStreet Ratings Team goes as follows:

  • AMGN's revenue growth has slightly outpaced the industry average of 13.4%. Since the same quarter one year prior, revenues rose by 13.8%. Growth in the company's revenue appears to have helped boost the earnings per share.
  • AMGEN INC reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. We feel that this trend should continue. During the past fiscal year, AMGEN INC increased its bottom line by earning $6.70 versus $6.65 in the prior year. This year, the market expects an improvement in earnings ($10.06 versus $6.70).
  • The company, on the basis of net income growth from the same quarter one year ago, has significantly outperformed against the S&P 500 and exceeded that of the Biotechnology industry average. The net income increased by 49.8% when compared to the same quarter one year prior, rising from $1,244.00 million to $1,863.00 million.
  • Net operating cash flow has slightly increased to $2,874.00 million or 4.85% when compared to the same quarter last year. In addition, AMGEN INC has also modestly surpassed the industry average cash flow growth rate of 1.29%.
  • You can view the full analysis from the report here: AMGN

Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of Jim Cramer, TheStreet or any of its contributors.