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Amgen’s 2Q Results

Product sales up 3% in the quarter while earnings were impacted by $1.5 billion in acquired in-process R&D.

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By: Kristin Brooks

Managing Editor, Contract Pharma

Amgen
2Q Revenues: $6.5 billion (+5%)
2Q Earnings: $464 million (-74%)
Comments: Product sales increased 3% globally, driven by double digit volume growth across a several products including Prolia (denosumab) up 24% to $814 million, Repatha up 43% to $286 million, and biosimilar products MVASI up 71% to $294 million, and KANJINTI up 27% to $156 million. EVENITY sales increased 30% to $131 million. Aimovig sales were down 16% to $82 million. Otezla sales were $534 million, down 5%. Enbrel sales were down 8% to $1.1 billion. AMGEVITA sales increased 73%, primarily driven by volume growth. AMGEVITA continued to be the most prescribed adalimumab biosimilar in Europe. KYPROLIS sales increased 11% to $280 million. XGEVA sales increased 12% to $488 million. Vectibix sales increased 23% to $239 million. Nplate sales were $245 million, up 27%. Earnings were impacted by the write-off of $1.5 billion in acquired in-process research & development associated with the acquisition of Five Prime Therapeutics.

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