Reportedly, Amgen exceeded Q2 estimates reporting $4.38 per share, minus some items, on $6.53 billion in sales. Earnings increased 4% year over year and exceeded analysts’ estimate for $4.09 per share. Sales topped expectations for $6.46 billion and increased 5%. Across all medicines, volumes grew 8% while sales prices declined 5%.
Sales of the company’s biggest moneymaker, an arthritis drug called Enbrel, declined on lower sales price and volumes. Its osteoporosis treatment Prolia and cholesterol med Repatha reported double-digit growth, an increase of respective 24% and 43% year over year. The company reported 30% sales growth for Evenity, a postmenopausal treatment for osteoporosis, with volumes increasing 32% and sales reaching $131 million. Sales of migraine medicine Aimovig and psoriasis drug Otezla decreased respectively 16% and 5% year over year.
The giant biotech company predicts adjusted earnings of $16-$17 per share and $25.8 billion to $26.6 billion in sales for the year.
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