Amgen Beats Consensus, Raises Earnings Guidance, But Is It Sustainable?
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.
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Products submitted for approval in the EU in recent weeks include Amgen/UCB’s potential new treatment for osteoporosis, romosozumab, an iv formulation of GSK’s flu treatment, zanamivir, and avacopan, a new immunosuppressant from ChemoCentryx that is getting support through the EMA’s PRIME scheme.
There's optimism around Novartis as it heads into its final quarter with Joe Jimenez in charge, while Lilly faces impending headwinds, GSK will be touting Shingrix for future growth as vaccines growth tempers, and Amgen treads a complicated path through the biosimilar landscape.
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.