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 will rely on new product launches, such as the migraine prophylaxis Aimovig (erenumab) and the cholesterol-lowering biologic Repatha (evolocumab), as well as volume-driven – not price-driven – sales growth to fill in the revenue gap in the near term
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