Biopharmaceutical giant Amgen (NASDAQ: AMGN) has reported its financial results for Q4 2023, announcing annual sales of USD 26.9 billion, reflecting a substantial 9% year-on-year (YOY) increase, primarily driven by volume growth. In an earnings call, CEO Robert Bradway highlighted that a remarkable 18 of the company’s medicines achieved record annual sales in the past year.
Leading the sales chart was Prolia (denosumab) for osteoporosis-linked bone loss, which generated USD 4.0 billion, marking a 12% increase. Enbrel (etanercept), an immunomodulator, followed with USD 3.7 billion despite a 10% decline. Otezla (apremilast) for psoriasis treatment brought in USD 2.2 billion, down by 4%, and Xgeva, the sister product of Prolia, recorded sales of USD 2.1 billion, up by 5%.
The company’s pipeline update includes a Phase III study for tarlatamab, a bispecific T-cell engager (BiTE), in first-line extensive-stage small cell lung cancer (SCLC). Additionally, two early-stage trials for xaluritamig, another BiTE, in early prostate cancer, Phase II and III studies for rocatinlimab, an anti-OX40 biologic, in asthma and prurigo nodularis, and a late-stage trial for Tepezza (teprotumumab), a drug for thyroid eye disease (TED), in a subcutaneous formulation, are underway.
Amgen anticipates an acceleration to double-digit growth in the current year and projects revenues to reach between USD 32.4 to 33.8 billion by 2024.- Flcube.com
