Amgen Does Not Expect Big Enbrel Price Impact From US Humira Biosimilar Launches

Q3 Revenue Down 1% But Beat Analyst Consensus

Amgen will be first to launch a Humira biosimilar in the US with its Amgevita, but it and other adalimumab copies may add pressure to the company’s already declining top-seller Enbrel.

Sign from Amgen building in Switzerland — Amgen's $6.65bn in Q3 revenue beat consensus expectations of $6.57bn • Source: Shutterstock

Amgen, Inc. does not expect the launch of biosimilars for AbbVie Inc.’s TNF inhibitor Humira (adalimumab) to cause its own anti-TNF antibody and top-selling product Enbrel (etanercept) to experience net price declines in 2023 that are any more dramatic than the price cuts already implemented in 2022 to keep the product on payers’ formularies. And as the first company slated to launch a Humira biosimilar in the US, Amgen has a front seat to the competitive dynamics next year.

Amgevita, the company’s adalimumab biosimilar available in Europe, generated $117m in third quarter 2022 sales, up 5% from $111m in...

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