Amgen (AMGN) Tops Q3 EPS by 35c; Raises Outlook
Amgen (NASDAQ: AMGN) reported Q3 EPS of $2.72, $0.35 better than the analyst estimate of $2.37. Revenue for the quarter came in at $5.7 billion versus the consensus estimate of $5.32 billion.
Amgen sees FY2015 EPS of $9.95-$10.10, versus the consensus of $9.75. Amgen sees FY2015 revenue of $21.4-21.6 billion, versus the consensus of $21.25 billion.
Amgen sees FY2016 EPS of $10.35-$10.75, versus the consensus of $10.73. Amgen sees FY2016 revenue of $21.7-$22.3 billion, versus the consensus of $22.12 billion.
"We delivered record revenues, adjusted earnings and cash flow in the third quarter, while improving our operating margins and investing in six exciting new product launches," said Robert A. Bradway, chairman and chief executive officer. "With several innovative medicines still in development, we are well on the way to achieving our long-term objectives for shareholders and patients alike."
Third Quarter 2015 Product Sales Performance
- Total product sales increased 14 percent for the third quarter of 2015 versus the third quarter of 2014. The increase was driven primarily by ENBREL, Sensipar, Neulasta, Prolia, XGEVA and Kyprolis. Growth for the quarter was due to net selling price, low inventory levels in the prior year period and higher unit demand.
- ENBREL sales increased 30 percent year-over-year driven by net selling price and low inventory levels in the prior year period, offset partially by the impact of competition.
- Neulasta sales increased 6 percent year-over-year driven by net selling price and favorable changes in inventory levels.
- Aranesp® (darbepoetin alfa) sales increased 4 percent year-over-year driven by higher unit demand, including a shift in dialysis customer purchases from EPOGEN® (epoetin alfa), offset partially by net selling price and unfavorable changes in foreign exchange rates.
- EPOGEN sales decreased 6 percent year-over-year driven by the impact of competition and the shift to Aranesp, offset partially by favorable changes in inventory levels and net selling price.
- XGEVA sales increased 19 percent year-over-year driven primarily by higher unit demand.
- Sensipar/Mimpara® sales increased 29 percent year-over-year driven by low inventory levels in the prior year period, net selling price and higher unit demand.
- Prolia sales increased 25 percent year-over-year driven by higher unit demand.
- NEUPOGEN® (filgrastim) sales decreased 5 percent year-over-year driven primarily by the impact of competition in the United States (U.S.).
- Kyprolis sales increased 46 percent year-over-year driven by higher unit demand.
- Nplate® (romiplostim) sales increased 15 percent year-over-year driven by higher unit demand.
- Vectibix® (panitumumab) sales decreased 4 percent year-over-year driven by unfavorable changes in foreign exchange rates. Strong unit growth continued in the U.S. and Europe.
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