Core Insights - Amgen Inc reported fourth-quarter sales of $9.10 billion, an 11% increase year-over-year, surpassing the consensus estimate of $8.9 billion [1] - The company achieved adjusted EPS of $5.31, exceeding the consensus of $5.08, despite the FDA placing a clinical hold on its Phase 1 study of AMG 513 for obesity [2] - Amgen anticipates fiscal year 2025 revenue between $34.3 billion and $35.7 billion, compared to a consensus of $34.5 billion, with adjusted EPS expected to be between $20 and $21.20 [3] Sales Performance - Product sales grew by 11%, primarily due to a 14% increase in volume; excluding sales from the Horizon Therapeutics acquisition, product sales increased by 10% with a 15% volume growth [6] - Ten products experienced at least double-digit sales growth in the fourth quarter, including Repatha, Blincyto, Tezspire, Evenity, and Tavneos [6] - Sales from rare disease products amounted to $1.2 billion, driven by early-in-lifecycle medicines such as Tepezza, Krystexxa, Uplinza, and Tavneos [6] Analyst Perspectives - Analysts remain positive about Amgen's performance, particularly regarding the value of MariTide in obesity and diabetes, along with upcoming approvals for other treatments [4] - The 2025 outlook aligns with expectations, highlighting ongoing investments in late-stage drugs, particularly MariTide and olpasiran [4] - Continued growth of key assets, including Repatha, Tezspire, Evenity, Blincyto, and Imdelltra, is expected to offset challenges from biosimilar launches, contributing to top-line growth [5] Stock Performance - Following the earnings report, AMGN stock rose by 5.41%, reaching $304.65 [5]

Amgen (AMGN) reported fourth-quarter 2024 adjusted earnings of $5.31 per share, which beat the Zacks Consensus Estimate of $5.03 per share. Earnings rose 13% year over year as higher revenues were partially offset by higher operating costs.Total revenues of $9.1 billion also beat the Zacks Consensus Estimate of $8.9 billion. Total revenues rose 11% year over year.Total product revenues increased 11% from the year-ago quarter to $8.72 billion as volume growth was partially offset by continued price declines. ...

Q4 '24 Earnings Call February 4, 2025 This presentation includes GAAP and non-GAAP financial measures. In accordance with the requirements of SEC Regulation G, reconciliations between these two measures, if these slides are in hard copy, accompany the hard copy presentation or, if these slides are delivered electronically, are available on the Company's website at www.amgen.com within the Investors section. Provided February 4, 2025, as part of an oral presentation and is qualified by such, contains forward ...

Amgen (AMGN) reported $9.09 billion in revenue for the quarter ended December 2024, representing a year-over-year increase of 10.9%. EPS of $5.31 for the same period compares to $4.71 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $8.86 billion, representing a surprise of +2.54%. The company delivered an EPS surprise of +5.57%, with the consensus EPS estimate being $5.03.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street ...

Amgen (AMGN) came out with quarterly earnings of $5.31 per share, beating the Zacks Consensus Estimate of $5.03 per share. This compares to earnings of $4.71 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 5.57%. A quarter ago, it was expected that this world's largest biotech drugmaker would post earnings of $5.11 per share when it actually produced earnings of $5.58, delivering a surprise of 9.20%.Over the last four quarters ...

Amgen reported strong fourth-quarter earnings, driven by strategic acquisitions and robust product sales growth.Biotechnology specialist Amgen (AMGN 0.05%) reported fourth-quarter and full-year 2024 earnings on Tuesday, Feb. 4, that topped analysts' consensus estimates. Analysts estimated Q4 adjusted EPS of $5.08 and revenue of $8.88 billion, but Amgen reported $5.31 in EPS and $9.1 billion in revenue, showcasing double-digit year-on-year growth in both metrics. Overall, the quarter demonstrated Amgen's eff ...

Financial Performance - For Q4 2024, total revenues increased 11% to $9.1 billion compared to Q4 2023, with product sales growing 11% driven by 14% volume growth[3]. - For the full year 2024, total revenues increased 19% to $33.4 billion, with product sales growing 19% primarily due to 23% volume growth[3]. - Amgen reported Q4 2024 total revenues of $9,086 million, a 10.9% increase from $8,196 million in Q4 2023[64]. - Product sales for Q4 2024 reached $8,716 million, up 11.3% from $7,833 million in Q4 2023[64]. - For the full year 2024, total revenues were $33,424 million, compared to $28,190 million in 2023, reflecting an 18.6% growth[64]. Earnings Per Share (EPS) - GAAP EPS for Q4 2024 decreased 18% to $1.16, while for the full year, GAAP EPS decreased 39% to $7.56, mainly due to higher operating expenses and mark-to-market losses[3][4]. - Non-GAAP EPS for Q4 2024 increased 13% to $5.31, and for the full year, it increased 6% to $19.84, driven by higher revenues[7]. - Non-GAAP diluted EPS for the twelve months ended December 31, 2024, was $19.84, up from $18.65 in 2023, representing an increase of 6.4%[68]. - Amgen's GAAP diluted EPS guidance for the year ending December 31, 2025, is projected to be between $10.89 and $12.14, with non-GAAP diluted EPS guidance ranging from $20.00 to $21.20[71]. Cash Flow - Free cash flow for the full year 2024 was $10.4 billion, up from $7.4 billion in 2023, attributed to business performance and timing of working capital items[7]. - The company generated a record $4.4 billion of free cash flow in Q4 2024, compared to $0.3 billion in Q4 2023, driven by improved business performance and lower transaction expenses[20]. - Operating cash flow for Q4 2024 was $4.8 billion, significantly higher than $0.5 billion in Q4 2023[22]. - Free cash flow for the twelve months ended December 31, 2024, was $10,394 million, compared to $7,359 million in 2023, marking an increase of 41.5%[69]. Sales Performance - Repatha sales increased 45% year-over-year to $606 million in Q4 2024, with full year sales up 36%[8]. - TEPEZZA generated $460 million in sales for Q4 2024 and $1.9 billion for the full year, being the first approved treatment for thyroid eye disease in the U.S. and Japan[11]. - TAVNEOS sales increased 84% year-over-year in Q4 2024 to $81 million, with full year sales up 111%[11]. - Established products generated $500 million in sales for Q4 2024, a decrease of 29% year-over-year, driven by volume declines and lower net selling price[13]. - Total product sales for Q4 '24 reached $8,716 million, an 11% increase from $7,833 million in Q4 '23[15]. - For FY '24, total product sales were $32,026 million, a 19% increase compared to $26,910 million in FY '23[16]. Operating Expenses - Total operating expenses increased by 29% for FY '24 compared to the previous year[17]. - SG&A expenses decreased by 17% in Q4 '24, primarily due to lower Horizon acquisition-related expenses[17]. - Research and development expenses for FY 2024 were $5.964 billion, a 25% increase from $4.784 billion in FY 2023[21]. - Non-GAAP operating expenses for the full year 2024 totaled $18,396 million, compared to $14,791 million in 2023, an increase of 24.0%[66]. Debt and Equity - The company reduced principal debt outstanding by $4.5 billion in 2024, with total debt outstanding at $60.1 billion as of December 31, 2024[24]. - Long-term debt decreased to $56,549 million in Q4 2024 from $63,170 million in Q4 2023[65]. - Amgen's total stockholders' equity was $5,877 million in Q4 2024, down from $6,232 million in Q4 2023[65]. - The debt leverage ratio as of December 31, 2024, was 4.5, calculated from total GAAP debt of $60,099 million and EBITDA of $13,356 million[70]. Research and Development - R&D expenses rose by 12% in Q4 '24, driven by higher spending in later-stage clinical programs[17]. - The company is planning for MARITIME, a broad Phase 3 program across multiple indications, with the first studies expected to begin in H1 2025[30]. - UPLIZNA demonstrated an 87% reduction in IgG4-RD flares in the Phase 3 MITIGATE study, meeting all primary and key secondary endpoints[34]. - The FDA accepted the regulatory submission for the Phase 3 MITIGATE study with a PDUFA action date of April 3, 2025[34]. - Rocatinlimab's ROCKET Phase 3 program has enrolled over 3,300 patients, with data readouts anticipated in H1 2025[39]. - TEZSPIRE showed a statistically significant reduction in nasal polyp size and congestion compared to placebo, with regulatory submission expected in H1 2025[39]. - A Phase 3 study of Nplate for chemotherapy-induced thrombocytopenia is ongoing, with final analysis planned for H1 2025[49]. - IMDELLTRA received accelerated approval in the U.S. for extensive-stage small cell lung cancer, with multiple ongoing Phase 3 studies[42]. - LUMAKRAS was approved in January 2025 for use in combination with Vectibix for KRAS G12C-mutated metastatic colorectal cancer[46]. - The Phase 2 study of fipaxalparant in diffuse cutaneous systemic sclerosis did not meet primary or secondary endpoints, leading to discontinuation of further development[34]. - The company plans to initiate Phase 3 studies in patients with moderate-to-very severe COPD in H1 2025[34].

The fourth-quarter earnings season for the drug and biotech sector will be in full swing this week with many large drugmakers like — Merck (MRK) , Pfizer (PFE) , Eli Lilly and Company (LLY) , Amgen (AMGN) and Bristol Myers Squibb (BMY) — due to announce results. Johnson & Johnson and AbbVie have already reported with both beating estimates for both earnings and sales. French drugmaker Sanofi came out with disappointing fourth-quarter results as it missed estimates for both earnings and sales.Find the latest ...

The fourth-quarter 2024 reporting cycle of the Medical sector is in full swing. The sector primarily comprises pharma/biotech and medical device companies.See the Zacks Earnings Calendar to stay ahead of market-making news.The earnings season for the medical sector kicked off late last month when pharma giant J&J reported fourth-quarter earnings. Though J&J’s earnings and sales beat estimates, its 2025 sales guidance fell below expectations. Last week, several pharma big-wigs like AbbVie, Novartis, Roche an ...

THOUSAND OAKS, Calif., Jan. 31, 2025 /PRNewswire/ -- Amgen (NASDAQ:AMGN) today announced that it will report its fourth quarter and full year 2024 financial results on Tuesday, February 4, 2025, after the close of the U.S. financial markets. The announcement will be followed by a conference call with the investment community at 4:30 p.m. ET. Participating in the call from Amgen will be Robert A. Bradway, chairman and chief executive officer, and other members of Amgen's senior management team. Live audio of ...