- Amgen’s adjusted EPS for Q2 was $4.97, missing the estimate of $4.98 and down from $5 year-over-year (y/y).
- Revenue for Q2 reached $8.39 billion, a 20% increase y/y, surpassing the estimate of $8.34 billion.
- Product sales were $8.04 billion, also a 20% increase y/y, slightly above the estimate of $8.03 billion.
- Repatha’s revenue grew by 25% y/y to $532 million, just below the estimate of $533 million.
- Prolia’s revenue was $1.17 billion, increasing 13% y/y and exceeding the estimate of $1.11 billion.
- Evenity saw a 39% y/y revenue growth to $391 million, above the estimate of $367.1 million.
- Blincyto revenue increased by 28% y/y to $264 million, surpassing the $252.3 million estimate.
- Vectibix revenue was $270 million, an 8.9% increase y/y, beating the estimate of $257.9 million.
- Kyprolis revenue grew 9% y/y to $377 million, slightly above the $374.6 million estimate.
- Lumakras revenue reached $85 million, up 10% y/y, close to the estimate of $84.9 million.
- Xgeva had a 6% y/y revenue increase to $562 million, surpassing the estimate of $548.3 million.
- Nplate’s revenue was $346 million, up 12% y/y, compared to the estimate of $319.6 million.
- Mvasi revenue decreased 20% y/y to $157 million, missing the $188 million estimate.
- Tezspire’s revenue soared 76% y/y to $234 million, exceeding the $214.6 million estimate.
- Otezla’s revenue dropped 9.3% y/y to $544 million, below the estimate of $578.8 million.
- Enbrel revenue was $909 million, down 15% y/y and below the estimate of $970.4 million.
- Amgevita revenue decreased 11% y/y to $133 million, falling short of the estimate of $180.5 million.
- Tepezza net sales were $479 million, close to the $480.8 million estimate.
- Krystexxa net sales reached $294 million, above the $281.7 million estimate.
- Uplizna net sales were $92 million, above the estimate of $89.7 million.
- Tavenos revenue was $71 million, up from $30 million y/y, outperforming the $58.8 million estimate.
- Epogen revenue dropped 48% y/y to $32 million, missing the estimate of $43.7 million.
- Aranesp revenue fell 4.7% y/y to $348 million, close to the estimate of $344.3 million.
- Parsabiv revenue increased 22% y/y to $106 million, beating the $88.2 million estimate.
- Neulasta revenue declined 56% y/y to $105 million, below the estimate of $134.5 million.
- Other products revenue totaled $346 million, higher than the $313.7 million estimate.
- Other revenue reached $347 million, up 15% y/y, surpassing the $338 million estimate.
- Adjusted operating expenses were $4.52 billion, a 30% increase y/y, aligning closely with the estimate of $4.53 billion.
- Adjusted R&D expenses were $1.42 billion, up 30% y/y and near the $1.45 billion estimate.
- Adjusted SG&A expenses were $1.69 billion, a 36% increase y/y, aligning with the $1.7 billion estimate.
- Adjusted operating income was $3.87 billion, up 10% y/y, slightly above the estimate of $3.83 billion.
- Adjusted operating margin stood at
Amgen Inc on Smartkarma
Amgen Inc. has attracted positive analyst coverage on Smartkarma from Baptista Research. In the report titled “Amgen Inc.: Will The Increased Spending on Research and Development (R&D) Pay Off? – Major Drivers,” Baptista Research highlights the company’s strong Q1 2024 performance, with a 22% YoY increase in total revenue. The growth was driven by robust product sales from brands like Repatha, TEZSPIRE, EVENITY, Prolia, and BLINCYTO. Additionally, Amgen’s pipeline progress is promising, with anticipated approval for tarlatamab to provide an innovative cancer solution for small-cell lung cancer patients.
In another report, “Amgen Inc: An Analysis Of The Pipeline Progress and Development! – Major Drivers,” Baptista Research underscores Amgen’s strategic moves, including the acquisition of Horizon Therapeutics, which has contributed to the company’s growth. The report emphasizes the record annual sales of 18 Amgen medicines, further fueling optimism. Baptista Research aims to evaluate the factors influencing Amgen’s future price and conducts an independent valuation using a Discounted Cash Flow methodology, indicating a bullish sentiment towards the company’s prospects.
A look at Amgen Inc Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 2 | |
| Dividend | 3 | |
| Growth | 3 | |
| Resilience | 2 | |
| Momentum | 5 | |
| OVERALL SMART SCORE | 3.0 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Amgen Inc., the independent biotechnology medicines company, is showing a promising long-term outlook based on Smartkarma’s Smart Scores. With a strong momentum score of 5, Amgen Inc. exhibits significant positive market momentum, suggesting potential growth opportunities ahead. Additionally, the company scores well in both the Dividend and Growth categories, with scores of 3 for each, indicating a solid foundation for future growth and income generation. While the Value and Resilience scores are slightly lower at 2, the overall outlook for Amgen Inc. appears positive due to its robust performance in key areas.
Specializing in human therapeutics, Amgen Inc. is dedicated to developing innovative medicines for severe illnesses. By leveraging advancements in cellular and molecular biology, the company is at the forefront of creating groundbreaking treatments that address critical healthcare needs. As indicated by its Smart Scores, Amgen Inc.’s focus on value creation, growth potential, and market momentum positions it well for sustained success in the competitive biotechnology industry.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
Have feedback on this article? Concerned about the content? Get in touch with us directly.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Analytics and News
- ✓ Events & Webinars
