Amgen Optimistic About 2020 Despite COVID-19 Impacts

Relatively upbeat during the company’s Q1 call based on Amgen’s product mix, executives expect the biggest coronavirus-related sales impacts in Q2 with stabilization and growth in the second half.

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Amgen's $6.2bn in Q1 revenue exceeded analyst consensus of $6bn • Source: Shutterstock

The biopharmaceutical industry’s first quarter earnings season has been somewhat grim as the COVID-19 pandemic’s impacts on drug sales have become more apparent, but Amgen Inc. executives were relatively upbeat during the company’s Q1 call on 30 April based on business execution, the mix of products in its portfolio and the addition of Otezla (apremilast) late last year.

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