1. Scrip
  2. >>Business

Amgen Sees Strong Q4 Growth Even Without Horizon Contribution

Gains Driven By Volume For Many Products

 
• By Mandy Jackson

The company increased its full-year guidance in anticipation of Horizon’s Q4 contribution and sales for the quarter jumped 20%, but even excluding those drugs product sales were up 5%.

Amgen logo sign hanging on the office building in Rotkreuz, Switzerland
Amgen's full-year 2024 revenue guidance is $32.4bn-$33.8bn • Source: Shutterstock

Amgen, Inc.’s revenue surged during the fourth quarter of 2023, powered largely by the rare disease drug portfolio from its $27.8bn Horizon Therapeutics plc acquisition that closed during the quarter, but the company also saw significant growth for several products outside of those assets, including the osteoporosis drugs Prolia (denosumab) and Evenity (romosozumab) and LDL-lowering therapy Repatha (evolocumab).

Key Takeaways

  • Amgen’s Q4 revenue and product sales each rose 20%, based in large part on the contribution of Horizon’s rare disease drugs, but sales jumped 5% even without these newly purchased assets.

Amgen raised its full year 2023 revenue guidance by about $1bn to a range of $28bn-$28.4bn in November in anticipation...

Read the full article – start your free trial today!

Join thousands of industry professionals who rely on Scrip for daily insights

  • Start your 7-day free trial
  • Explore trusted news, analysis, and insights
  • Access comprehensive global coverage
  • Enjoy instant access – no credit card required
Start Free Trial

Already a subscriber?

More from Business

Ionis’s Dawnzera Becomes First RNA-Targeted HAE Prevention Drug

 
• By Joseph Haas

Dawnzera joins CSL’s recently approved Andembry as new additions to the crowded hereditary angioedema prevention market. It is priced at $57k per dose, but labeling includes four- or eight-week options.

Gilead’s Kite Is Latest To Enter In Vivo CAR-T Space With Interius Buy

 
• By Alaric DeArment

The CAR-T specialist is spending $350m to acquire the private Philadelphia-based firm, which is developing in vivo CAR-Ts using lentiviral vectors.

Former Moderna Exec Launches Company Focused On mRNA Despite HHS Funding Cuts

 
• By David Wild

Emerging Company Profile: Axelyf raises $2.6m seed round for lipid nanoparticle delivery platform on heels of end to US federal support for mRNA vaccines.

Nicox Plots US Submission After Another Phase III Glaucoma Win

 
• By Kevin Grogan

The France-headquartered firm’s eye drop has demonstrated efficacy in a second pivotal trial.

More from Scrip

Former Moderna Exec Launches Company Focused On mRNA Despite HHS Funding Cuts

 
• By David Wild

Emerging Company Profile: Axelyf raises $2.6m seed round for lipid nanoparticle delivery platform on heels of end to US federal support for mRNA vaccines.

Nicox Plots US Submission After Another Phase III Glaucoma Win

 
• By Kevin Grogan

The France-headquartered firm’s eye drop has demonstrated efficacy in a second pivotal trial.

Rocket’s Warp Drive Back Online As FDA Lifts Danon Gene Therapy Hold

 
• By Alaric DeArment

The company took a prophylactic C3 inhibitor out of the immunomodulatory regimen used in its Phase II study of RP-A501, lowered the dose and adjusted its use of eculizumab.