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Analyst Conference Summary |
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biotechnology
|
Amgen
|
Product sales $ millions |
Q1 2025 |
Q4 2024 |
Q1 2024 |
y/y % |
Prolia | $1,099 |
$1,165 |
$999 |
10% |
Repatha | 656 |
606 |
517 |
27% |
Evenity | 442 |
431 |
342 |
29% |
Lumakras | 85 |
85 |
82 |
4% |
Neulasta | 129 |
98 |
118 |
9% |
Otezla | 437 |
624 |
394 |
11% |
Wezlana | 150 |
na |
1 |
na% |
Pavblu | 99 |
na |
0 |
na% |
Enbrel | 510 |
1,015 |
567 |
-10% |
Arenesp | 340 |
308 |
349 |
-3% |
Vectibix | 267 |
246 |
247 |
8% |
Nplate | 313 |
337 |
317 |
-1% |
Xgeva | 566 |
561 |
561 |
1% |
Kyprolis | 324 |
372 |
376 |
% |
Blincyto | 370 |
381 |
244 |
52% |
Parsabiv | 88 |
75 |
105 |
-16% |
Tezspire | 285 |
296 |
173 |
65% |
Tepezza | 381 |
460 |
424 |
-10% |
Krystexxa | 236 |
346 |
235 |
0% |
Uplizna | 91 |
101 |
80 |
14% |
Tavneos | 90 |
81 |
51 |
76% |
Amgevita | 136 |
294 |
168 |
-19% |
Imdelltra | 81 |
67 |
0 |
na% |
Mvasi | 179 |
173 |
202 |
-11% |
ultra rares | 179 |
214 |
169 |
6% |
other | 340 |
361 |
397 |
-14% |
Cash and equivalents balance ended at $8.8 billion, down sequentially from $12.0 billion. Operating cash flow $1.39 billion. Capital expenditures $411 million. Free cash flow was $0.98 billion. Long-term debt was $54 billion, reduced $2.8 billion in the quarter. $0 billion in shares were repurchased in the quarter. Dividend payments were $1.3 billion.
See also the Amgen pipeline.
GAAP cost of sales was $2.97 billion. Research and development expense was $1.49 billion; selling general and administrative expense $1.69 billion; and other operating expense $830 million, for total operating expenses of $6.97 billion. Operating income was $1.18 billion. Interest expense was $723 million, other income $1.52 billion, income taxes $243 million.
Q&A selective summary:
MariTide presentation at ADA? Shared salient data from the Phase 1 study. Strong efficacy, monthly dose well tolerated. Will add some mechanistic data, other details at ADA. Will have an investor relations call afterwards. But we are already in Phase 3, which is designed to deliver efficacy and tolerability.
Uplizna in IgG4 commercial strategy? Exciting opportunity. It is a recently diagnosed disease, usually by rheumatologists. We have good presense with key prescribers, field force is deployed. About 20,000 patients in the U.S. In GMG (myasthenia gravis) Uplizna has a very different mechanism than the current therapies.
Repatha competition? Yes, there is competition. We believe we have best profile in PCSK9 category. We have shown lower LDL and event reduction. Also the class is underserved, it is large, it can stand competition. We are working to open up access and affordability for Repatha.
Uplizna GMG pricing, competition? We believe market will be determined by efficacy and convenience. Positive feedback from physicians. We expect fairly broad access from payers.
Tepezza lack of growth? We are broadening the prescribing base. We need to activate non-specialist, general endocrinologists. We are seeing more intent to prescibe. We don't see a rapid change in the trajectory. Yes, subcutaneous product would help. Also got an approval recently in Japan, got a positive opinion in EU.
Talked about potential of the new KRAS therapy. Notes the space is competitive.
More Analyst Conference Pages:
AGEN |
AGIO |
ALLO |
ALNY |
AMAT |
APRE |
ARWR |
BIIB |
BLRX |
BMY |
CDTX |
CLDX |
FATE |
GILD |
GLYC |
ILMN |
INCY |
INKT |
INO |
IONS |
MCHP |
MRNA |
PLX |
REGN |
RNA |
SAGE |
SANA |
VRTX |
VSTM |
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. These are my personal notes that I use as the basis for my Seeking Alpha articles. They are not advice.
Copyright 2025 William P. Meyers