Amgen: revenues weighed down by price pressures

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( — Amgen , the American biotechnology group, announced for its fourth fiscal quarter revenues up 3%, with sales of the covid antibody treatment produced for Eli Lilly. Amgen’s own treatment revenues declined slightly year-over-year on pricing pressures. Quarterly adjusted earnings per share were $4.36, versus $4.1 consensus. Consolidated net profit rose 22% to $3.36. Total quarterly revenue was $6.85 billion, slightly below consensus. Volumes increased by 7% compared to last year, but the impact of prices was strong with generic and biosimilar competition. Among the group’s blockbusters, Enbrel’s revenue fell 13% to $1.1 billion.


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