Amgen Revenue Exceeds Expectations; Threats Remain Despite New Launches
This article was originally published in Scrip
Executive Summary
Amgen Inc. reported $5.7bn in third quarter revenue, exceeding analyst estimates by $400m and beating the year-ago period by 14%, but the growth was fueled by a combination of higher demand, product price increases and built-up inventories without significant contributions from new medicines.
You may also be interested in...
Finance Watch: Canaan, Regeneron Reveal New Funds For Start-Ups
Private Company Edition: Regeneron launched a $500m venture fund and Canaan added $100m, bringing the venture firm’s recent total to $1bn-plus. Also, incubators plan to grow over the next decade and in recent financings Avenzo raised $150m and Nvelop launched with $100m.
Sage’s Dalzanemdor Prospects In Doubt After First Mid-Stage Readout
Dalzanemdor (SAGE-718) showed no difference from placebo in a Phase II Parkinson’s disease study, raising concerns about readouts later this year in Huntington’s and Alzheimer’s diseases.
First Phase III Depression Data For Intra-Cellular’s Caplyta Exceed Expectations
With positive results from the first Phase III trial of lumateperone in major depressive disorder and a second readout expected later this quarter, the company plans a supplemental filing in late 2024.