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Despite double-digit sales drop for Epogen and Aranesp, Amgen revenues up 4% in second quarter
Despite lower sales for its anemia drugs Epogen and Aranesp, Amgen Inc. revenues increased 4% to $6.1 billion in the second quarter of 2018 compared to the same quarter a year ago, company officials reported during an earnings call on July 26.
Product sales grew 2% globally with the help of new and recently launched products, including Repatha (evolocumab), Kyprolis (carfilzomib), Prolia (denosumab) and Xgeva (denosumab). A lower tax rate also helped improve profits, the company said in a press release.
“Amgen’s strong performance in the second quarter was driven by double-digit, volume-driven growth from our new and recently launched products,” said Robert A. Bradway, chairman and CEO. “Our two most recently launched products, Aimovig and Parsabiv, are off to a strong start.”
Sensipar/Mimpara (cinacalcet) sales decreased 2% compared to the second quarter of 2017, driven by unfavorable changes in inventory and “lower unit demand as a function of Parsabiv uptake,” the company said. Aranesp (darbepoetin alfa) sales decreased 12% driven primarily by the impact of competition, the company said. Epogen (epoetin alfa) sales decreased 14% driven primarily by lower net selling price and, to a lesser extent, lower unit demand, Amgen said.
The company also announced on July 31 it would begin construction of a new next-generation biomanufacturing plant at its West Greenwich, Rhode Island campus. The $200 million facility will cover 120,000 square feet and create approximately 150 additional highly skilled manufacturing positions, the company said in a press release.
References:
www.amgen.com/media/news-releases/2018/07/amgen-reports-second-quarter-2018-financial-results/