(AOF) – Amgen is expected to decline slightly in pre-market on Wall Street despite a better-than-expected quarterly profit: the pharmaceutical group posts adjusted earnings per share at $4.96, up 6% year-on-year, for a turnover of 6.9 billion dollars, up 4%. The increased 2023 turnover is now expected between 28 and 28.4 billion dollars (compared to 26.6 and 27.4 previously), with earnings per share between 18.20 and 18.80 dollars (compared to 17 .80 and 18.80). These figures are given without taking into account the acquisition of Horizon Therapeutics.
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Biotechs put to the test
These companies are suffering from a much less favorable economic cycle, which is reflected in particular by a drop in venture capital financing of start-ups. These companies are therefore obliged to carry out layoff plans. Added to this is a much more restrictive regulatory framework. First, in the United States, measures linked to the Inflation Reduction Act (IRA) could have a strong impact on the margins of stakeholders. Indeed, from 2026, the federal Medicare program will be able to renegotiate the price of drugs marketed for nine years (chemical) or 13 years (biological), with discounts that could range from 35 to 60% for biotechs. Likewise, in Europe, with the new drug regulations presented in Brussels in April, the duration of patent protection will be reduced if the innovative treatment is not marketed in all member countries within two years.