Amgen revenue rose, but '14 sales could slip
Amgen 2013 revenues increased by 17% from 2012 to $18.7 billion, the company reported today. Revenue guidance came in the range of $19.2 to $19.6 billion for 2014.
In its Q4 earnings call today, the Thousand Oaks, CA, biotech also said that evolocumab (AMG-145), the Phase-III PCSK9 antibody it's developing for statin-intolerant patients, would be filed with the FDA in 2014, and SG&A expenses were hiked from $4.8 billion in 2012 to $5.1 billion in 2013.
Barlcays analyst Tony Butler called into question the "sustainability” of the company's revenue growth, given that anemia drugs Epogen and Neupogen and nephrology drug Sensipar will “likely face headwinds in 2014,” given the 2013 expiry of patents for Epogen and Neupogen.
Looking ahead, Amgen expects to have six Phase-III data readouts for drugs in 2014.Correction: Amgen expects to file evolocumab in 2014.