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Financial Report: Amgen

Earnings down 3% in the quarter

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By: Kristin Brooks

Managing Editor, Contract Pharma

Amgen
4Q Revenues: $5.8 billion (-3%)
4Q Loss: $4.3 billion (earnings were $1.9 billion 4Q16)
FY Revenues: $22.8 billion (-1%)
FY Earnings: $2.0 billion (-74%)
Comments: Enbrel sales were down 13% to $1.4 billion due to lower unit demand and net selling price. Neulasta sales were flat in the quarter at $1.1 billion with lower unit demand offset by favorable changes in accounting estimates. Repatha sales increased 69% to $98 million in the quarter driven by higher demand. BLINCYTO sales increased 59% to $46 million driven by higher unit demand. Prolia sales increased 24% to $574 million due to higher unit demand. XGEVA sales increased 4% to $391 million. Sensipar/Mimpara sales were flat at $413 million with higher net selling price offset by unfavorable changes in inventory levels. For the quarter and year-end, results were impacted by U.S. Corporate tax reform, including the repatriation tax on accumulated foreign earnings and the remeasurement of certain deferred and other tax liabilities.

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