Amgen is on a track to generate a company-record sales year during despite the impact of the COVID pandemic. We expect this product to be a key growth driver for us in and beyond.
Product sales grew 6 percent worldwide, fueled by 13 percent volume growth across various newer products — including Otezla apremilast , Mvasi bevacizumab-awwb , Kanjinti trastuzumab-anns , Evenity romosozumab-aqqg and Repatha evolocumab — offset partially by decreases in select products from the impact of COVID- 19 as well as biosimilar and generic competition. Sales of negatively affected products fell most early during the second quarter of with sales starting to recover in the latter weeks of the April-June period.
Total product sales grew during the six-month period ended June 30, , driven primarily by unit demand increases from newer brands including Otezla, Mvasi, Kanjinti, Evenity, and Repatha.
According to the company, these unit demand increases were offset partially by declines in net selling prices for certain products, as well as unit demand declines for mature brands that face biosimilar or generic competition.
Enbrel sales for second-quarter declined 9 percent year-over-year, driven by lower unit demand. Amgen management says consistent with prior periods, Enbrel continued to lose share and the effects of such share loss were compounded by lower growth of the rheumatology segment because of COVID During July , the U.
Court of Appeals for the Federal Circuit affirmed the judgment of the New Jersey District Court upholding the validity of the two patents that describe and claim Enbrel and methods for making the product. The appellate court affirmed an August 9, decision by the U. District Court for the District of New Jersey that had upheld the validity of two patents asserted against Sandoz Inc. Second-quarter Neulasta sales were down versus the same-time period, driven by the impact of biosimilar competition on net selling price and unit demand.
Within the long-acting G-CSF segment, Neulasta Onpro continues to be the preferred choice for physicians and patients with share increasing to 58 percent during the second quarter. Otezla TRx growth remained strong during the second quarter, Amgen management says.
Otezla provides a convenient oral option with an established safety profile and does not require lab monitoring, making it an attractive option during this COVID period and for physicians practicing telemedicine. Product sales for the o first half fell 13 percent year-over-year, due to lower unit demand. Sales decreased 5 percent year-over-year versus second-quarter , driven by lower unit demand.
Second-quarter Repatha sales grew 32 percent year-over-year, paced by 69 percent volume growth, offset partially by lower net selling price. A team led by a young researcher from Taiwan named Fu-Kuen Lin is tasked with finding and cloning the erythropoietin gene. Their job is staggering: finding a gene on a single fragment of DNA among 1.
After working tirelessly for two years, they do it. Amgen establishes its European headquarters in Lucerne, Switzerland. Later, the European headquarters will relocate to Zug, also in Switzerland.
Over the next several years, Amgen would quickly establish offices across Europe, including a key manufacturing and distribution center in Breda, the Netherlands. Amgen establishes the Amgen Foundation as a way to coordinate the various groups and individuals who were already giving back to the community.
As with Epogen, the initial discoveries that laid the basis for the drug had been made well back in the 80s, when the company was unprofitable. That decade of investment and research was paying off. A new CEO, Kevin Sharer, took the helm around the turn of the millennium, and rapidly moved to capitalise on the research groundwork laid by his predecessors. It was also breaking into the rheumatology disease area with the approval of Kineret in , and its acquisition, through the merger with Immunex a year later, of the anti-TNFmonoclonal antibody Enbrel.
It focused on other innovative biotechnology companies, acquiring Synergen in , Immunex in , the owners of Enbrel, Tularik in who focused on the biology of transcription factors and Abgenix in As seen with the case of Enbrel, this allowed it to broaden the pipeline beyond those molecules discovered in-house, much as the more traditional pharma companies were doing at this time.
By the mid s Amgen was already a giant. It was already easily the biggest biotech company in the world, in it was several times the size of the next largest Genzyme in terms of revenue, and twice the size in terms of employees.
In its Thousand Oaks hometown in California, it was far and away the biggest employer, with 1 in 10 of the town folk working for Amgen.
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