Company Analysis: Amgen
Company Analysis: Amgen
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PharmaVitae explores Amgen’s prescription pharmaceutical performance and outlook over 2019–29. PharmaVitae analyses include quarterly earnings coverage and provide timely updates to company product forecasts. The full company profile encompasses analysis on corporate strategy, portfolio analysis, pipeline potential, and financial performance.
Author: PharmaVitae
Publisher: Datamonitor Healthcare
- Highlights
- Description
- Companies
- Contents
Report Snapshot
- Amgen is one of the largest biotechnology companies, with total revenues of more than $23 billion in 2019.
- Amgen’s 2019 revenues decreased 2%, with product sales decreasing 1%, compared to 2018, reflecting the impact of biosimilar and generic competition.
- Recent court rulings around Enbrel patents should improve length of revenue generation for Amgen’s largest drug.
- Amgen compares favourably to most peers over both near-term (2019-2024) and long-term (2024-2029) revenue growth rates; the company also is expected to generate less than 8% of revenue from launch products in 2025, which is lower than peer average.
- Amgen is facing significant biosimilar impact in the near-term, as Neulasta, Neupogen, Epogen, and Sensipar all see large revenue declines.
- Amgen’s sales will grow out to 2029, as a small set of potential blockbusters offset significant biosimilar exposure.
- Amgen’s biosimilars generated $568 million in sales in 2019, up 10x from 2018, driven strong launches of Kanjinti and Mvasi in the US and Amgevita internationally.
- Growth in the US will be driven by Enbrel, Prolia, Otezla, and Xgeva.
- Amgen completed acquisition of worldwide rights to Otezla (apremilast), the only oral, non-biologic treatment for moderate-to-severe plaque psoriasis and psoriatic arthritis, from Celgene. Otezla is expected to add a substantial boost to revenue, adding over $3 billion by 2023.
- Key late-stage pipeline assets include tezepelumab and AMG 510.
PharmaVitae explores Amgen’s prescription pharmaceutical performance and outlook over 2019–29.
Snapshot
- Overview – PharmaVitae forecasts Amgen’s sales to grow out to 2029.
- Key themes – [1] Successful resolution of Enbrel litigation a major positive for Amgen, as patent protection secured into 2029 [2] Pipeline has a few potential blockbusters, with tezepelumab and AMG 510 [3] Acquisition of Otezla adds a substantial boost to revenue in both near and long term, adding over $3bn by 2023 [4] Acquisition of Amgen Astellas BioPharma and 20.5% equity stake in BeiGene significantly transforms Amgen’s long-term strategy for the Asian market.
Model updates (3 November 2020)
- Kanjinti forecast adjusted higher
- Mvasi forecast adjusted higher.
Model updates (30 July 2020)
- Prolia forecast adjusted lower due to impact from COVID-19
- Aimovig forecast adjusted lower due to sales trends
- Kanjinti forecast adjusted higher due to continued share gains
- Mvasi forecast adjusted higher due to continued share gains
- Neulasta forecast adjusted higher due to stronger trends from Onpro
- Avsola forecast added after recent product launch.
Model updates (20 May 2020)
- Prolia forecast adjusted lower due to impact from COVID-19
- AMG 510 forecast adjusted lower due to updated trial results presented at ASCO.
Model updates (4 March 2020)
- Mvasi forecast added due to Amgen providing brand-level revenue detail on biosimilars business
- Kanjinti forecast added due to Amgen providing brand-level revenue detail on biosimilars business
- Amgevita forecast added due to Amgen providing brand-level revenue detail on biosimilars business
- ABP 798 forecast added.
Table of Contents
Company Background
Company Overview
Key Metrics
SWOT Analysis
Key Drug & Company Information
Company Comparison
Recent Earnings Review
Earnings Overview
Pharma Insights Analysis
Company Forecast
Prescription Pharmaceuticals Sales Outlook
Branded Drug Outlook
Launch Profile Outlook
Therapy Area Outlook
Regional Sales Outlook
Lifecycle Analysis
Company Profile
Marketed & Pipeline Drugs
Recent Events & Analyst Opinions
Upcoming Catalysts
Recent Insights
Clinical Trial Overview
Clinical Trial Snapshot
Clinical Trials by Country
Clinical Trials by Status and Phase
Clinical Trials by Drug
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