U.S. Revenue: $21.1 billion (up 7.1%)
Global Revenue: $23 billion (up 6%)
Top Brands: Enbrel ($6B), Neulasta ($4.6B), Aranesp ($2.1B), Prolia ($1.6B)
R&D Spend: $3.8B (down 6%), 17% of revenue
Planned Launches: Romosozumab (bone health), Erenumab (migraine), Xgeva (skeletal-related events)
Upcoming Patent Expirations: Sensipar, Blincyto
Biotech major Amgen is making good on a lofty promise to generate $1.5 billion in savings by 2018 (related: investors gleefully watched stock prices soar upward during the first few months of this year). But company execs likely cringed as the release of highly anticipated study data for PCSK9 inhibitor Repatha sent stocks plummeting. With patient access to the cholesterol-lowering drug questionable, Amgen must defend the high price tag against market-standard statins. Meanwhile, the biotech giant continues patent accusations against Sanofi and Regeneron’s PCSK9 Praluent. Amgen is developing biologic copycats and fighting off competitors to its biologics portfolio. Amjevita, biosimilar to AbbVie’s Humira, is waiting in the patent-infringement wings to make its market debut. Meanwhile, numerous copycats of popular RA biologic Enbrel are vying for market action. The market stance for Neulasta, developed to stimulate white blood cell production following cancer treatment, is similarly hanging in the biosimilar balance. Amgen has accused Coherus Biosciences of relying on poached trade secrets to develop its Neulasta copycat. Amgen hopes to soon add romosozumab to its successful bone health portfolio, which includes Prolia and Xgeva.
