![](https://vistapglobal.com/wp-content/uploads/2022/04/pexels-woodysmedia-4394806-1.jpg)
Amgen reported a strong quarter with sales increasing 6% to $6.24 billion and exceeding expectations at $6.07 billion. Earnings also came in above projections at $4.25 per share, up 15% on a year-over-year basis.
Amgen’s osteoporosis treatment Evenity and migraine drug Aimovig reported strong growth, with sales surging 59% and 53% respectively. Revenue from its biggest moneymaker, inflammation treatment Enbrel, dropped 7% to $843 million. Amgen also noted lower sales of Otezla, another inflammation drug dropped by 5% to $350 million. Both Otezla and Enbrel felt the impact of insurance changes and increased co-pays. Otezla also experienced price declines.
For the year, the biotech behemoth called for $25.4 billion to $26.5 billion in sales, missing analyst estimates for $26.05 billion. Amgen expects to earn $17-$18 a share.
Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives.
Stay Informed! Stay Competitive! Please join us at Vista Partners and receive our FREE email updates throughout the week and view our exclusive content and research.