Analyst Conference Summary |
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biotechnology
|
Amgen
|
Product sales $ millions |
Q1 2018 |
Q4 2017 |
Q1 2017 |
y/y % |
Neulasta | 1,114 |
$1,210 |
||
Neupogen | 126 |
148 |
||
Enbrel | 1,423 |
1,181 |
||
Arenesp | 491 |
511 |
||
Epogen | 270 |
270 |
||
Sensipar | 413 |
421 |
||
Vectibix | 159 |
147 |
||
Nplate | 165 |
154 |
||
Xgeva | 391 |
402 |
||
Prolia | 574 |
425 |
||
Kyprolis | 227 |
190 |
||
Blincyto | 46 |
34 |
||
Repatha | 98 |
49 |
||
other | 72 |
57 |
Cash and equivalents balance ended at $ billion, up slightly sequentially from $41.7 billion. Operating cash flow $ billion. Free cash flow was $ billion. At the end of quarter long-term debt was $ billion. Capital expenditures $ billion. $ billion worth of shares were repurchased in the quarter. Dividend payments were $ billion.
Enrollment in a Phase 3 study to evaluate the efficacy and safety of tezepelumab in adults and adolescents with severe uncontrolled asthma began in December. Partnered with AstraZeneca.
Aimovig (Erenumab) for migraines regulatory submissions were made in Q2. Believes partnership with Novartis will enhance sales. PDUFA action date is May 17, 2018. Phase 3b data presented in January met endpoints.
ABP 980 (biosimilar trastuzumab or Herceptin) has an FDA action target date of May 28, 2018.
Mvasi (biosimilar bevacizumab, or Avastin) was approved in Europe in January.
CNP520 is in a Phase 3 study for Alzheimer's disease for patients with a strong genetic predisposition to it. Partnered with Novartis.
Amgen has 12 Bite programs in progress.
See also the Amgen pipeline.
Cost of sales was $ billion. Research and development expense was $ billion; selling general and administrative expense $ billion; and other expense $ million, for total operating expenses of $ billion. Operating income was $ billion. Interest and other expense net was $ million, income taxes $ billion.
Q&A:
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Disclaimer: My analyst call summaries may include both condensations of statements made by company representatives and my own analysis. They are not covered by any warranty. I cannot guarantee anything said by company representatives is true. I try not to make errors, but it is possible. Before making or terminating an investment you should always verify any factual basis of your decision.
Copyright 2018 William P. Meyers