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Financial Reports: Amgen

Enbrel price increases offset unit decline

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Amgen 1Q13

1Q Revenues: $4.2 billion (+5%)

1Q: Earnings: $1.4 billion (+21%)

Comments: Sales growth was driven by Enbrel ($1.0 billion/+11%), Xgeva ($223 million/+46%), Prolia ($142 million/+61%) and Sensipar (+$264 million/+21%). Enbrel’s increase was attributable mainly to increased prices and a change in accounting estimates, offsetting a small drop in demand. Epogen sales fell 2% to $435 million and Aranesp dropped 10% to $468 million. Neupogen sales fell 2% due to reduced demand. R&D expenses increased 18% to $851 million to support late-stage clinical programs.

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