Amgen Inc.'s first quarter revenue and earnings beat consensus estimates without a meaningful contribution from sales of the cholesterol-reducing biologic Repatha (evolocumab), but the company is pushing back against payers that are denying reimbursement to appropriate patients.
Thousand Oaks, California-based Amgen reported on April 29 that it generated $5.5bn in first quarter 2016 revenue, which was 10% above the same period in 2015 and $200m above consensus (Also see "1Q Earnings Preview: What To Expect From US, EU Big Hitters" - Scrip, 26 April, 2016.). The company also posted a 17% jump in adjusted earnings per share (EPS) to $2.90, which was a $0.30 improvement over analyst expectations
