Amgen (AMGN) came out with quarterly earnings of $5.31 per share, beating the Zacks Consensus Estimate of $5.03 per share. This compares to earnings of $4.71 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 5.57%. A quarter ago, it was expected that this world's largest biotech drugmaker would post earnings of $5.11 per share when it actually produced earnings of $5.58, delivering a surprise of 9.20%.Over the last four quarters ...

Amgen reported strong fourth-quarter earnings, driven by strategic acquisitions and robust product sales growth.Biotechnology specialist Amgen (AMGN 0.05%) reported fourth-quarter and full-year 2024 earnings on Tuesday, Feb. 4, that topped analysts' consensus estimates. Analysts estimated Q4 adjusted EPS of $5.08 and revenue of $8.88 billion, but Amgen reported $5.31 in EPS and $9.1 billion in revenue, showcasing double-digit year-on-year growth in both metrics. Overall, the quarter demonstrated Amgen's eff ...

Financial Performance - For Q4 2024, total revenues increased 11% to $9.1 billion compared to Q4 2023, with product sales growing 11% driven by 14% volume growth[3]. - For the full year 2024, total revenues increased 19% to $33.4 billion, with product sales growing 19% primarily due to 23% volume growth[3]. - Amgen reported Q4 2024 total revenues of $9,086 million, a 10.9% increase from $8,196 million in Q4 2023[64]. - Product sales for Q4 2024 reached $8,716 million, up 11.3% from $7,833 million in Q4 2023[64]. - For the full year 2024, total revenues were $33,424 million, compared to $28,190 million in 2023, reflecting an 18.6% growth[64]. Earnings Per Share (EPS) - GAAP EPS for Q4 2024 decreased 18% to $1.16, while for the full year, GAAP EPS decreased 39% to $7.56, mainly due to higher operating expenses and mark-to-market losses[3][4]. - Non-GAAP EPS for Q4 2024 increased 13% to $5.31, and for the full year, it increased 6% to $19.84, driven by higher revenues[7]. - Non-GAAP diluted EPS for the twelve months ended December 31, 2024, was $19.84, up from $18.65 in 2023, representing an increase of 6.4%[68]. - Amgen's GAAP diluted EPS guidance for the year ending December 31, 2025, is projected to be between $10.89 and $12.14, with non-GAAP diluted EPS guidance ranging from $20.00 to $21.20[71]. Cash Flow - Free cash flow for the full year 2024 was $10.4 billion, up from $7.4 billion in 2023, attributed to business performance and timing of working capital items[7]. - The company generated a record $4.4 billion of free cash flow in Q4 2024, compared to $0.3 billion in Q4 2023, driven by improved business performance and lower transaction expenses[20]. - Operating cash flow for Q4 2024 was $4.8 billion, significantly higher than $0.5 billion in Q4 2023[22]. - Free cash flow for the twelve months ended December 31, 2024, was $10,394 million, compared to $7,359 million in 2023, marking an increase of 41.5%[69]. Sales Performance - Repatha sales increased 45% year-over-year to $606 million in Q4 2024, with full year sales up 36%[8]. - TEPEZZA generated $460 million in sales for Q4 2024 and $1.9 billion for the full year, being the first approved treatment for thyroid eye disease in the U.S. and Japan[11]. - TAVNEOS sales increased 84% year-over-year in Q4 2024 to $81 million, with full year sales up 111%[11]. - Established products generated $500 million in sales for Q4 2024, a decrease of 29% year-over-year, driven by volume declines and lower net selling price[13]. - Total product sales for Q4 '24 reached $8,716 million, an 11% increase from $7,833 million in Q4 '23[15]. - For FY '24, total product sales were $32,026 million, a 19% increase compared to $26,910 million in FY '23[16]. Operating Expenses - Total operating expenses increased by 29% for FY '24 compared to the previous year[17]. - SG&A expenses decreased by 17% in Q4 '24, primarily due to lower Horizon acquisition-related expenses[17]. - Research and development expenses for FY 2024 were $5.964 billion, a 25% increase from $4.784 billion in FY 2023[21]. - Non-GAAP operating expenses for the full year 2024 totaled $18,396 million, compared to $14,791 million in 2023, an increase of 24.0%[66]. Debt and Equity - The company reduced principal debt outstanding by $4.5 billion in 2024, with total debt outstanding at $60.1 billion as of December 31, 2024[24]. - Long-term debt decreased to $56,549 million in Q4 2024 from $63,170 million in Q4 2023[65]. - Amgen's total stockholders' equity was $5,877 million in Q4 2024, down from $6,232 million in Q4 2023[65]. - The debt leverage ratio as of December 31, 2024, was 4.5, calculated from total GAAP debt of $60,099 million and EBITDA of $13,356 million[70]. Research and Development - R&D expenses rose by 12% in Q4 '24, driven by higher spending in later-stage clinical programs[17]. - The company is planning for MARITIME, a broad Phase 3 program across multiple indications, with the first studies expected to begin in H1 2025[30]. - UPLIZNA demonstrated an 87% reduction in IgG4-RD flares in the Phase 3 MITIGATE study, meeting all primary and key secondary endpoints[34]. - The FDA accepted the regulatory submission for the Phase 3 MITIGATE study with a PDUFA action date of April 3, 2025[34]. - Rocatinlimab's ROCKET Phase 3 program has enrolled over 3,300 patients, with data readouts anticipated in H1 2025[39]. - TEZSPIRE showed a statistically significant reduction in nasal polyp size and congestion compared to placebo, with regulatory submission expected in H1 2025[39]. - A Phase 3 study of Nplate for chemotherapy-induced thrombocytopenia is ongoing, with final analysis planned for H1 2025[49]. - IMDELLTRA received accelerated approval in the U.S. for extensive-stage small cell lung cancer, with multiple ongoing Phase 3 studies[42]. - LUMAKRAS was approved in January 2025 for use in combination with Vectibix for KRAS G12C-mutated metastatic colorectal cancer[46]. - The Phase 2 study of fipaxalparant in diffuse cutaneous systemic sclerosis did not meet primary or secondary endpoints, leading to discontinuation of further development[34]. - The company plans to initiate Phase 3 studies in patients with moderate-to-very severe COPD in H1 2025[34].

The fourth-quarter earnings season for the drug and biotech sector will be in full swing this week with many large drugmakers like — Merck (MRK) , Pfizer (PFE) , Eli Lilly and Company (LLY) , Amgen (AMGN) and Bristol Myers Squibb (BMY) — due to announce results. Johnson & Johnson and AbbVie have already reported with both beating estimates for both earnings and sales. French drugmaker Sanofi came out with disappointing fourth-quarter results as it missed estimates for both earnings and sales.Find the latest ...

The fourth-quarter 2024 reporting cycle of the Medical sector is in full swing. The sector primarily comprises pharma/biotech and medical device companies.See the Zacks Earnings Calendar to stay ahead of market-making news.The earnings season for the medical sector kicked off late last month when pharma giant J&J reported fourth-quarter earnings. Though J&J’s earnings and sales beat estimates, its 2025 sales guidance fell below expectations. Last week, several pharma big-wigs like AbbVie, Novartis, Roche an ...

THOUSAND OAKS, Calif., Jan. 31, 2025 /PRNewswire/ -- Amgen (NASDAQ:AMGN) today announced that it will report its fourth quarter and full year 2024 financial results on Tuesday, February 4, 2025, after the close of the U.S. financial markets. The announcement will be followed by a conference call with the investment community at 4:30 p.m. ET. Participating in the call from Amgen will be Robert A. Bradway, chairman and chief executive officer, and other members of Amgen's senior management team. Live audio of ...

Wall Street analysts forecast that Amgen (AMGN) will report quarterly earnings of $5.01 per share in its upcoming release, pointing to a year-over-year increase of 6.4%. It is anticipated that revenues will amount to $8.86 billion, exhibiting an increase of 8.1% compared to the year-ago quarter.The current level reflects an upward revision of 0.7% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their ini ...

The fourth-quarter 2024 earnings cycle is here, with quite a few healthcare companies having reported results. Early reports indicate several key growth drivers at play, including increased patient volumes, utilization, admissions, patient days and rate hikes, as well as growing demand for commercial healthcare plans and technology-enabled offerings. However, rising medical costs due to increased utilization and occupancy have partly offset the positives.Based on our exclusive research and unique market ins ...

Company Overview - Amgen is one of the largest biotech companies globally, with a strong presence in various therapeutic areas including oncology, cardiovascular disease, neuroscience, inflammation, bone health, and nephrology [11] - The company has developed significant drugs such as Epogen and Neupogen, and has launched next-generation products like Aranesp and Neulasta [11] - Amgen's acquisition of Immunex Corporation provided access to the blockbuster drug Enbrel, although older drugs are facing declining sales due to competition from biosimilars [11] Financial Performance - Amgen is currently rated 3 (Hold) on the Zacks Rank, with a VGM Score of B [12] - The company has a Momentum Style Score of A, with shares increasing by 8.1% over the past four weeks [12] - Earnings estimates for fiscal 2024 have been revised higher by three analysts in the last 60 days, with the Zacks Consensus Estimate increasing by $0.05 to $19.56 per share [12] - Amgen has an average earnings surprise of 4.1% [12] Investment Potential - With a solid Zacks Rank and top-tier Momentum and VGM Style Scores, Amgen is recommended for investors' consideration [13]

Core Insights - The European Commission has approved BLINCYTO® (blinatumomab) as part of consolidation therapy for adult patients with newly diagnosed Philadelphia chromosome-negative CD19-positive B-cell precursor acute lymphoblastic leukemia (B-ALL) [1][7] - The approval is based on the Phase 3 E1910 clinical trial, which demonstrated that adding BLINCYTO to multiphase consolidation chemotherapy significantly improved overall survival compared to chemotherapy alone [2][3] Company Overview - Amgen is a biotechnology company that discovers, develops, manufactures, and delivers innovative medicines, with a focus on treating serious diseases [9] - The company has been recognized as one of the "World's Most Innovative Companies" and is part of the Dow Jones Industrial Average and Nasdaq-100 Index [10] Industry Context - Acute lymphoblastic leukemia (ALL) is a fast-growing blood cancer, with B-ALL being the most common subtype, constituting approximately 75% of cases in adults [4] - The prevalence of ALL in Europe is estimated at 1.28 persons per 100,000 people [4] Product Information - BLINCYTO is the first globally approved Bispecific T-cell Engager (BiTE®) immuno-oncology therapy, targeting CD19 surface antigens on B cells to enhance the immune response against cancer [5][8] - In the EU, BLINCYTO is indicated for various patient groups, including adults with newly diagnosed Philadelphia chromosome-negative CD19-positive B-ALL as part of consolidation therapy [6][13]