1. Scrip
  2. >>Business
  3. >>Earnings

Amgen Eschews Some Of Its BiTEs, But Otezla Spurs Growth

Pipeline Changes Planned As Data Evolved

 
• By Mandy Jackson

Without Otezla’s $2.2bn in 2020 sales, Amgen’s full-year revenue would have been slightly lower than in 2019, which is why all eyes are on the company’s R&D programs and near-term approvals.

Top view of calculator,keyboard,pen and notebook written with Fourth Quarter.
Amgen's 2020 revenue of $25.4bn was in line with consensus expectations • Source: Shutterstock

Amgen, Inc. has showcased its bispecific T-cell engager (BiTE) technology as a source of next-generation cancer therapies over the past few years, investing in the platform across a variety of hematological malignancies and tumor types, so it was surprising when the company revealed on 2 February in its fourth quarter 2020 earnings report that it has paused clinical trials and discontinued development for some of its BiTE candidates.

Executive vice president of research and development David Reese told Amgen’s Q4 earnings call that the company always planned to de-emphasize certain BiTE R&D programs and advance others as data for these assets evolved

The BiTE program discontinuations were “done in close concert with our investigators; many of these choices were part of our strategy

More from Earnings

Strong Showing For Bayer’s Pharma Business In Uncertain Times

 
• By Kevin Grogan

As CEO Anderson backs high prices for innovative drugs in Europe

Stock Watch: Stock Watch: Lilly And Novo Duke Out Q1

 
• By Andy Smith

Novo Nordisk enjoyed a surprise GLP-1 agonist contracting win in the first quarter of 2025. This provided a welcome boost to its stock after it had spent the previous quarter on the back foot against rival Lilly.

Dr Reddy’s Gears For Tariffs Scenario To Ensure No US Supply Disruption

 
• By Anju Ghangurde

Dr. Reddy's Laboratories preps for potential US tariffs, focusing on sustaining product supply and collaborating with customers on inventories. A recent US plant sale, the firm stressed, was unrelated to tariffs and underlines its openness to ‘make in the US’, where it launched 18 products in fiscal 2025.

Takeda Plans US Investment But Sees Little Impact From Tariffs

 
• By Alaric DeArment

The Japanese drug maker is on track for three pivotal Phase III readouts and two regulatory submissions in 2025.

More from Business

Trump’s MFN Executive Order More Rhetoric Than Action

 
• By Jessica Merrill

The details of Trump’s latest executive order on drug pricing are vague and the president put more blame on other countries and pharma distributors than drug companies.

Biopharma Deals ROI Has Fallen And Market Instability Could Make It Worse

 
• By Andrew McConaghie

Rising biotech valuations mean return on investment on some deals is non-existent for big pharma, though certain strategies will improve chances of success, a new analysis has found.

Dr Reddy’s Gears For Tariffs Scenario To Ensure No US Supply Disruption

 
• By Anju Ghangurde

Dr. Reddy's Laboratories preps for potential US tariffs, focusing on sustaining product supply and collaborating with customers on inventories. A recent US plant sale, the firm stressed, was unrelated to tariffs and underlines its openness to ‘make in the US’, where it launched 18 products in fiscal 2025.