Myeloma Survival Benefit May Help Amgen's Kyprolis Stave Off Competition
Proving a survival benefit in the head-to-head ENDEAVOR relapsed multiple myeloma study gives Amgen's Kyprolis a leg up ahead of the entry of Velcade generics in the US this year.
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Amgen ended its own development of the CETP inhibitor AMG 899, but will see if anyone else wants to license the drug. Meanwhile, the company is focusing on new drugs and assets in development to offset declining sales for Enbrel and other blockbusters.
Data supporting a role for J&J/Genmab's anti-CD38 monoclonal antibody in newly diagnosed multiple myeloma are "as good as could be expected," but the backbone regimen in the trial is rarely used in the US.
Amgen's second quarter beat consensus estimates, but with only a $100m increase in sales and few major growth drivers expected in the near term, earnings growth may not last.