Amgen Impresses With Q4 Earnings Beat, Analysts See Growth Ahead

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]