Amgen revenue falls slightly as Lilly COVID deal contributes less
Jan 31 (Reuters) -Amgen Inc AMGN.O on Tuesday said its fourth-quarter revenue fell slightly as a 4% increase in sales of its own drugs was offset by lower revenue from its deal to manufacture COVID-19 antibody treatments for Eli Lilly and Co. LLY.N
Amgen reported revenue of $6.84 billion in the quarter, down from $6.85 billion a year ago, but ahead of analysts' estimates of $6.77 billion, according to Refinitiv data.
Amgen partnered with Lilly in 2020 to increase the supply of its COVID-19 antibody treatments. U.S. health regulators pulled the authorization for Lilly's last COVID antibody in November after determining it would not be effective against currently circulating coronavirus variants.
The biotechnology company's listed "other revenue," which includes the manufacturing deal, fell to $287 million from $575 million last year.
Amgen product sales were led by a 14% jump in osteoporosis drug Prolia to a quarterly record of $992 million.
Adjusted earnings per share decreased to $4.09 from $4.40 a year ago, just missing analyst estimates of $4.10. Net income fell 15% to $1.62 billion.
The biotechnology company forecast 2023 revenue of $26 billion to $27.2 billion, excluding the impact of its anticipated acquisition of Horizon Therapeutics Plc HZNP.O. The company expects to provide an updated forecast once that deal closes.
Analysts estimate $27.17 billion in revenue for the full year, according to Refinitiv.
Earlier in December, Amgen agreed to buy Horizon in a deal valued at $27.8 billion, fortifying its rare diseases portfolio with the access to the blockbuster thyroid eye disease treatment Tepezza.
"The announced acquisition of Horizon Therapeutics, which we expect to complete in the first half of this year, represents a compelling opportunity to serve more patients and strengthen our growth profile," Amgen Chief Executive Robert Bradway said in a statement.
Earlier on Tuesday, Amgen launched Amjevita, the first U.S. biosimilar of AbbVie Inc's ABBV.N blockbuster arthritis treatment Humira. It began selling it in Europe in October 2018 after Humira first went off patent.
FOCUS-AbbVie's Humira gets a U.S. rival, but costs could stay high nL1N34G13M
Reporting by Sriparna Roy in Bengaluru and Michael Erman in Maplewood, New Jersey; Editing by Bill Berkrot
免責聲明: XM Group提供線上交易平台的登入和執行服務，允許個人查看和/或使用網站所提供的內容，但不進行任何更改或擴展其服務和訪問權限，並受以下條款與條例約束：（i）條款與條例；（ii）風險提示；（iii）完全免責聲明。網站內部所提供的所有資訊，僅限於一般資訊用途。請注意，我們所有的線上交易平台內容並不構成，也不被視為進入金融市場交易的邀約或邀請 。金融市場交易會對您的投資帶來重大風險。
所有缐上交易平台所發佈的資料，僅適用於教育/資訊類用途，不包含也不應被視爲適用於金融、投資稅或交易相關諮詢和建議，或是交易價格紀錄，或是任何金融商品或非應邀途徑的金融相關優惠的交易邀約或邀請。
本網站的所有XM和第三方所提供的内容，包括意見、新聞、研究、分析、價格其他資訊和第三方網站鏈接，皆爲‘按原狀’，並作爲一般市場評論所提供，而非投資建議。請理解和接受，所有被歸類為投資研究範圍的相關内容，並非爲了促進投資研究獨立性，而根據法律要求所編寫，而是被視爲符合營銷傳播相關法律與法規所編寫的内容。請確保您已詳讀並完全理解我們的非獨立投資研究提示和風險提示資訊，相關詳情請點擊 這裡查看。
