Amgen’s roller coaster ride known as Tepezza is ascending again. Is the thyroid eye disease (TED) treatment finally gaining momentum that is sustainable?
Aug 6 (Reuters) - Amgen (AMGN.O), opens new tab on Tuesday said its second-quarter profit slipped 1% as higher expenses, including costs related to development of its experimental obesity drug MariTide, offset a 20% increase in revenue driven by the biotechnology company's October acquisition of rare disease drugmaker Horizon Therapeutics.
GRO Biosciences has ended the week with an extra $60.3 million in the bank, which the protein therapeutics-focused biotech will use to push its lead gout treatment into clinical trials. nnGout occurs when high levels of uric acid in the blood cause crystals to form and accumulate in and around a joint, leading to pain and swelling. Horizon Therapeutics’ Krystexxa remains the only approved biologic to treat uncontrolled gout. But some patients who receive this uricase enzyme therapy soon develop anti-drug antibodies (ADAs) that clear out the enzyme, according to GRO.
Comments: Repatha (evolocumab) sales increased 33% to $517 million in the quarter, driven by 44% volume growth. TEZSPIRE (tezepelumab-ekko) generated $173 million of sales in the quarter, up 80%, primarily driven by volume growth. Otezla (apremilast) sales were $394 million, an increase of 1%. Enbrel (etanercept) generated $567 million of sales, down 2%. AMJEVITA/AMGEVITA (adalimumab) generated $168 million of sales, up 2%. EVENITY (romosozumab-aqqg) sales increased 35% to $342 million, primarily driven by volume growth. BLINCYTO (blinatumomab) sales increased 26% to $244 million. TAVNEOS (avacopan) sales were $51 million, up 122% driven by volume growth. Prolia (denosumab) generated $999 million of sales, up 8% driven by volume growth Vectibix (panitumumab) sales were $247 million, up 6%. KYPROLIS (carfilzomib) sales increased 5% to $376 million. XGEVA (denosumab) sales increased 5% to $561 million. Nplate (romiplostim) generated $317 million of sales in the quarter, down 12%. MVASI (bevacizumab-awwb) sales were flat at $202 million.
Amgen CEO Robert Bradway scored a 5.8% increase in overall compensation last year mostly thanks to the company’s acquisition of Horizon Therapeutics.
House Oversight Committee Chair James Comer (R-KY) sent a stern letter to FTC chair Lina Khan last week, claiming the commission improperly disclosed confidential information as it reviewed the merger between Amgen and Horizon Therapeutics, which was completed in early October.
For 10 months, the biopharma industry waited to see if Amgen and Horizon Therapeutics would prevail in their $27.8 billion merger following scrutiny and challenges from the FTC and other government leaders.
THOUSAND OAKS, Calif., Oct. 6, 2023 /PRNewswire/ -- Amgen (NASDAQ: AMGN) today announced that it has completed its acquisition of Horizon Therapeutics plc for $116.50 per share in cash, representing a transaction equity value of approximately $27.8 billion.
Rule 17(e) Announcement - Horizon Therapeutics plc