Amgen Inc AMGN reported Q3 FY23 sales of $6.90 billion, slightly missing the consensus of $6.94 billion.
Total revenues increased 4% Y/Y, resulting from a 5% increase in product sales.
Product sales growth was driven by 11% volume growth, partially offset by 3% lower net selling price and 3% unfavorable changes to estimated sales deductions.
Also Read: FDA AdCom Gives Thumbs Down To Late-Stage Data For Amgen's Lumakras In Advanced Form Of Lung Cancer.
Volume growth of 11% included double-digit volume growth from Blincyto (blinatumomab), Evenity (romosozumab-aqqg), Repatha (evolocumab), and Nplate (romiplostim).
U.S. volume grew 11%, and ex-U.S. volume grew 12%, including 27% volume growth in the Asia Pacific region.
Adjusted EPS increased 6% to $4.96, driven by increased revenues, beating the consensus of $4.66.
Q3 sales of cholesterol drug Repatha rose 31% from a year earlier to $406 million, while sales of osteoporosis drug Prolia rose 14% to $986 million.
Sales of Amjevita, Amgen's new biosimilar version of AbbVie Inc's ABBV arthritis drug Humira, rose 30% to $152 million.
Sales of cancer drug Lumakras fell 31% to $52 million, and sales of arthritis drug Enbrel fell 6% to $1.1 billion.
Guidance: Amgen expects FY23 adjusted EPS of $18.20-$18.80 versus prior guidance of $17.80-$18.80 and consensus of $18.26.
The company forecasts FY23 revenues of $28 billion-$28.4 billion versus prior guidance of $26.6 billion-$27.4 billion and consensus of $27.54 billion.
Price Action: AMGN shares are down 3.78% at $253.08 on the last check Tuesday.
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