Goldman Sachs Comments on How Strong Sales of Kyprolis, Epogen, and Prolia Might Affect Amgen

In a report published Friday, Goldman Sachs analyst Terence Flynn reiterated a Buy rating and $130.00 price target on

. In the report, Goldman Sachs noted, “AMGN IMS monthly drug sales are tracking slight ahead of our estimates. Kyprolis, Epogen and Prolia are particularly strong, while Enbrel and Neulasta are tracking in line and Aranesp is slightly below. IMS reported October Kyprolis sales of $27mn, or average weekly sales of $6.7mn (10% increase vs. September). Assuming no growth in November and December and applying no adjustment for capture ratio, this puts Kyprolis sales for 4Q13 at $88mn. Using last quarter's capture ratio implies 4Q13 sales of $76mn vs. GS/consensus of $71mn.” Amgen closed on Wednesday at $113.82.