(AOF) – Amgen is expected to rise by more than 14% in pre-market trading on Wall Street after publishing results better than expectations in the 1st quarter. The pharmaceutical group posted earnings per share of $3.96 versus $3.87 expected, down 1% year-on-year, for a turnover of $7.44 billion, up 22% year-on-year. year, against 7.43 billion expected. Amgen notably blames higher than expected operational and financial expenses caused by the acquisition of Horizon Therapeutics finalized in October 2023.
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Oncology, priority of pharmaceutical giants
Sanofi’s stock market disappointment recorded at the end of October 2023 underlines the new direction for the group, which has now set oncology as its number 1 priority. Efforts in this segment, where therapies are advancing the fastest, notably involve investments in R&D which weigh on profitability. Sanofi therefore announced a drop in its earnings per share in 2024 and the abandonment of its objective of an operating margin of 32% in 2025. Merck has just unveiled a new alliance. It will pay up to $22 billion to the Japanese group Daiichi Sankyo as part of a partnership on experimental cancer treatments. While some experts estimate that the United States represents nearly half of global oncology spending (drugs and treatments), or $196 billion in 2022, Chinese spending in this area has more than doubled in five years, going from 5 to 11.8 billion dollars.