Lower-Cost Competitors Hit Amgen's Blockbusters
Q1 revenue was roughly in line with expectations, but product sales were lower than consensus as multiple blockbusters faced generic competitors and biosimilars – a scenario the company prepared investors for earlier this year.
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Aimovig, Emgality and Ajovy have been on the market for more than a year, but are still far from blockbusters even though millions of patients are eligible for treatment – and at least one new competitor is coming.
Newer products are gaining ground, but not fast enough to replace sales as blockbuster products face competition. Scrip spoke with the company's global commercial head about the strategy going forward.
Amgen and Allergan’s launch of the first biosimilars to Roche/Genentech’s Avastin and Herceptin may not face the same commercial dynamics that have stymied biosimilars in other therapeutic areas, but uptake could depend upon oncologists’ comfort level in prescribing the follow-on agents.