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Amgen Has Relatively Smooth Sailing In Q2 Despite COVID-19 Headwinds

 
• By Mandy Jackson

Amgen reported a 6% year-over-year increase in second quarter sales despite pandemic-related declines for several drugs as newer product gains and Otezla righted a rocky ship.

Launch
COVID-19 makes for choppy waters, but Amgen sailed into second quarter growth

Amgen, Inc. already is in a challenging period as waves of biosimilar and generic competitors crash into legacy branded product sales, but despite the additional headwind of the COVID-19 pandemic the company sailed through the second quarter with a 6% year-over-year increase in both total revenue and product sales, which reached $6.21bn and $5.91bn, respectively.

Amgen reported on 28 July that sales for many of its drugs administered in hospitals and at doctor offices declined in the second quarter as patients stayed home rather than risk exposure to the novel coronavirus, including the osteoporosis therapy Prolia (denosumab), which totaled $659m globally in second quarter sales, down 6% from the same period in 2019

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