Amgen Inc.'s 2018 total revenue increased 3% year-over-year to $23.7bn and exceeded analyst consensus of $23.4bn, but the company on Jan. 29 forecast a decline of up $1.9bn for 2019 due in large part to biosimilar competition for Neulasta (pegfilgrastim) and Epogen (epoetin alfa).
Amgen Explains How Big A Hit It May Take From Biosimilars, Pricing Pressures
With Neulasta and Epogen facing competition and potential Sensipar generics launching this year, the company said revenues will fall from $23.7bn in 2018 to $21.8bn-$22.9bn in 2019. Amgen expects new launches and volume-driven sales growth – not price hikes – to boost revenue in the future.
