Amgen Impresses With This fall Earnings Beat, Analysts See Progress Forward – Amgen (NASDAQ:AMGN)

On Tuesday, Amgen Inc AMGN reported fourth-quarter gross sales of $9.10 billion, up 11% year-over-year, beating the consensus of $8.9 billion.

• Product gross sales grew 11%, primarily pushed by 14% quantity development. Excluding gross sales from the Horizon Therapeutics acquisition, product gross sales grew 10%, pushed by 15% quantity development.
• Ten merchandise delivered at the very least double-digit gross sales development within the fourth quarter, together with Repatha (evolocumab), Blincyto (blinatumomab), Tezspire (tezepelumab-ekko), Evenity (romosozumab-aqqg) and Tavneos (avacopan).
• The efficiency included $1.2 billion of gross sales from uncommon illness merchandise, pushed by a number of early-in-lifecycle medicines, together with Tepezza (teprotumumab-trbw), Krystexxa (pegloticase), Uplinza (inebilizumab-cdon) and Tavneos.

Amgen reported adjusted EPS of $5.31, beating the consensus of $5.08.

In its earnings launch, the corporate stated the FDA positioned a scientific maintain on its Part 1 research of AMG 513 for weight problems.

“Sturdy development in gross sales and earnings all through 2024 displays the momentum of our enterprise. With sturdy efficiency globally, we’re investing closely in our quickly advancing pipeline to ship progressive therapies throughout our 4 therapeutic areas,” stated Robert Bradway, chairman and chief government officer.

Additionally Learn: FDA Approves Amgen Therapy For Pretreated Colorectal Most cancers With Sure Mutation

Steering: Amgen expects fiscal 12 months 2025 income of $34.3 billion—$35.7 billion versus a consensus of $34.5 billion. The corporate expects adjusted EPS of $20-$21.20, in comparison with a consensus of $20.88.

Goldman Sachs is inspired by the quarter and the corporate’s development prospects for 2025, which eases issues concerning the inventory.

Analyst Salveen Richter stays optimistic as the corporate continues to carry out properly, particularly as traders acknowledge the worth of MariTide in weight problems and diabetes, together with upcoming approvals like Uplizna for IgG4-RD and gMG.

William Blair analyst Matt Phipps says the 2025 outlook principally aligns with expectations, however R&D spending and working margin forecasts spotlight ongoing funding in late-stage medicine, significantly MariTide and olpasiran.

William Blair analyst writes, “We imagine continued development of key belongings, together with Repatha, Tezspire, Evenity, Blincyto, and Imdelltra, mixed with three biosimilar launches in 2025, will offset headwinds from biosimilar launches of Prolia and Xgeva, offering top-line development mixed with significant scientific readouts in 2025…”

Value Motion: AMGN inventory is up 5.41% at $304.65 ultimately verify Wednesday.

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