Amgen, Inc.’s products in highly competitive spaces, such as rheumatoid arthritis and migraine, experienced sales volume declines in the fourth quarter, contributing to a Q4 revenue total that fell below analyst expectations. The commercial performance announced on 7 February highlights the company’s need for near-term growth drivers beyond its two new launches, Lumakras (sotorasib) and Tezspire (tezepelumab), on the eve of a business review of Amgen’s long-term growth plans.
Amgen Revenue Boosted By COVID-19 Manufacturing, Flat To Down Without It
Performance Highlights Need For Near-Term Growth Drivers
The company reported $6.8bn in fourth quarter revenue, missing analyst consensus of $6.9bn even with revenue from supplying Lilly’s COVID-19 antibodies. Enbrel and Aimovig fell by double digits.
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