Amgen (NASDAQ: AMGN) reported Q1 EPS of $3.47, $0.23 better than the analyst estimate of $3.24. Revenue for the quarter came in at $5.6 billion versus the consensus estimate of $5.43 billion.

2018 EPS guidance revised to $11.30-$12.28 on a GAAP basis and $12.80-$13.70 on a non-GAAP basis (*** consensus is $13.48); total revenues guidance revised to $21.9-$22.8 billion (*** consensus is $22.61 billion).

"Amgen's strong first-quarter performance was driven by our new and recently launched products, all of which delivered double-digit, volume-driven growth," said Robert A. Bradway, chairman and chief executive officer. "We look forward to further expanding our new product portfolio with the expected U.S. launch of Aimovig TM (erenumab), our first-in-class migraine prevention therapy, in the second quarter and the European launch of AMGEVITA TM (biosimilar adalimumab) our first biosimilar, later this year."

Product Sales Performance

• Total product sales increased 3 percent for the first quarter of 2018 versus the first quarter of 2017.
• Repatha sales increased 151 percent driven primarily by higher unit demand.
• BLINCYTO® (blinatumomab) sales increased 44 percent driven by higher unit demand.
• Sensipar/Mimpara® (cinacalcet) sales increased 18 percent driven primarily by higher unit demand.
• KYPROLIS sales increased 17 percent driven primarily by higher unit demand.
• Prolia sales increased 16 percent driven primarily by higher unit demand.
• Nplate® (romiplostim) sales increased 16 percent driven by higher unit demand.
• Vectibix® (panitumumab) sales increased 15 percent driven primarily by higher unit demand.
• XGEVA sales increased 11 percent driven primarily by higher unit demand.
• Parsabiv™ (etelcalcetide) sales increased driven by our U.S. launch.
• Neulasta® (pegfilgrastim) sales decreased 5 percent driven by lower unit demand from continued declines in the use of myelosuppressive chemotherapy regimens and from favorable prior year changes in accounting estimates, offset partially by favorable changes in net selling price and inventory.
• Enbrel® (etanercept) sales decreased 6 percent driven primarily by lower unit demand and, to a lesser extent, lower net selling price and favorable prior year changes in accounting estimates, offset partially by favorable changes in inventory.
• EPOGEN® (epoetin alfa) sales decreased 10 percent driven primarily by unfavorable changes in net selling price and lower unit demand.
• Aranesp® (darbepoetin alfa) sales decreased 11 percent driven primarily by the impact of competition on unit demand.
• NEUPOGEN® (filgrastim) sales decreased 30 percent driven primarily by the impact of competition on unit demand.

For earnings history and earnings-related data on Amgen (AMGN) click here.