As Amgen executives continue to toast a spectacular 2015 performance — double-digit growth from five of eight blockbusters — CEO Robert Bradway has cast a keen eye on the biotech pioneer’s future. Last year Amgen launched six products, including cholesterol reducer Repatha and multiple myeloma drug Kyprolis, and upped revenue 8% over 2014 figures. Still, the stock market saddled the biotech sector with an early 2016 hangover; Amgen shares dipped 8.5% in January. Market turmoil stems from scrutiny from the Obama administration over Medicare B prescription drug reimbursements, which places undue attention on Amgen’s arsenal of biologics. Plus Zarxio, the Novartis biosimilar to Amgen’s Neupogen, is the first in what’s likely to be a string of discounted copycat biologics. Next on the target list? Enbrel and Neulasta. But Amgen has thrown its own hat in the biosimilars ring, with three products in development. Paddling up the pipeline: romosozumab in bone health, AMG 334 for migraine, and nephrology product etelcalcetide.
From the May 01, 2016 Issue of MM+M - Medical Marketing and Media
