Second quarter revenue rose 5%, but the company expects the pandemic to hit sales for the rest of 2021.
The company raised its full-year adjusted earnings forecast to $15.80 to $16.15 per share, from a previous range of $15.10 to $15.75
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Amgen is a leader in biotechnology-based human therapeutics, with historical expertise in renal disease and cancer supportive-care products. Flagship drugs include red blood cell boosters Epogen and Aranesp, immune system boosters Neupogen and Neulasta, and Enbrel and Otezla for inflammatory diseases. Amgen introduced its first cancer therapeutic, Vectibix, in 2006 and markets bone-strengthening drug Prolia/Xgeva (approved 2010) and Evenity (approved 2019). The acquisition of Onyx bolstered the firm's therapeutic oncology portfolio with Nexavar and Kyprolis. Recent launches include Repatha (cholesterol-lowering) and Aimovig (migraine). Amgen's own biosimilar portfolio includes key products Mvasi (biosimilar Avastin), Kanjinti (biosimilar Herceptin), and Amgevita (biosimilar Humira).
| Website: | www.amgen.com |
| Email: | investor.relations@amgen.com |
| Main Phone: | +1 805 447-1000 |
| Address: | One Amgen Center Drive |
| Address 2: | Suite 2650 |
| State: | CA |
| City / Town: | Thousand Oaks |
| Country: | US |
| Postal Code: | 91320-1799 |
| Exchange: | NGS |
| CEO: | Robert A. Bradway |
| Employees: | 24300 |
| NAICS: | Pharmaceutical Preparation Manufacturing(325412) |
Second quarter revenue rose 5%, but the company expects the pandemic to hit sales for the rest of 2021.
The company raised its full-year adjusted earnings forecast to $15.80 to $16.15 per share, from a previous range of $15.10 to $15.75
The new names join the index as of August 31. Exxon Mobil, Pfizer and Raytheon will depart.
With a coronavirus vaccine still months off, companies are rushing to test what may be the next best thing: drugs that deliver antibodies to fight the virus right away, without having to train the immune system to make them.
Higher sales of newer drugs, like recently-added psoriasis treatment Otezla, offset declining sales of older medicines. Adjusted earnings rose 4% to $2.52 billion, or $4.25 per share, vs estimates of $3.84.
The company reported an 11% increase in revenue and 17% increase in adjusted profit, while maintaining its full-year forecast.
Deal was more than doubled in size, priced at $17 and never traded below $28.
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