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Amgen Optimistic About Growth, Despite Denosumab Biosimilars, Potential Tariffs

MariTide Phase II Obesity Details Planned For ADA

 
• By Mandy Jackson

Amgen saw revenue rise 19% to $33.4bn in 2024 and said revenue should grow to $34.3bn-$35.7bn in 2025 despite losing exclusivity for its biggest franchise – Prolia and Xgeva (denosumab) – this year.

Repatha, Evenity and eight other Amgen products had double- or triple-digit growth in 2024 (Shutterstock)

While regulatory uncertainty in the US is mounting, Amgen does not expect significant revenue impact from new tariffs implemented under US President Donald Trump, chief financial officer Peter Griffith told Scrip. The newly implemented tariffs have prompted questions for big pharmas already coping with the changing US regulatory regime, but Amgen has limited exposure. The company reported strong performance in 2024 on 4 February, with fourth-quarter and full-year 2024 revenues that exceeded analyst consensus and guidance for 2025 that anticipates revenue growth, despite loss of exclusivity for the company’s largest franchise, denosumab.

With 10 products across Amgen’s portfolio generating double-digit or greater sales growth and 14 products annualizing at $1bn or more...

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