Amgen sales decline as biosimilars start to intrude upon established products

Amgen is facing some large losses as its established products are starting to face biosimilar competition, prompting the company to focus on its next list of new products. The drop-in sales of its two stalwart products, Sensipar and Neulasta by 25% and 71% respectively have contributed to a 3% revenue decline to $5.9billion.

These figures make Amgen’s route to profitability much more difficult despite several new medical prescriptions such as Prolia and Repatha making respectable progress. Prolia, an osteoporosis med, jumped by 14% to $698million during Q2.

However, despite the 3% sale decline, Amgen’s revenue haul still came in above analyst predictions by $175m, with the EPS (earnings per share) of $3.57 also exceeding analysts expectation.
Amgen is looking forward to in the future a host of oncology launches plus CGRP migrane med Aimovig. It has also recently launched biosimilars of two of Roche’s cancer blockbusters, with hopes that they will start to chip into Roche’s market share.

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