2019 revenue: $23.36 billion
2018 revenue: $23.75 billion
Headquarters: Thousand Oaks, California
For Amgen, 2019 was a year of managing losses of exclusivity. Overall for the year, the drugmaker’s sales fell 2% to $23.4 billion thanks to generics and biosimilars to several important drugs.
Amgen’s Neulasta, Neupogen and Sensipar faced copycat competition in 2019, hence the decline. But on the flip side, Amgen has its own group of biosimilar medicines taking off and contributing toward its top line. The company’s version of Roche’s Herceptin pulled in $226 million in 2019, while its Avastin copycat generated $127 million. Amgen’s Humira biosim hasn’t yet hit the U.S. market, but it generated $215 million in other markets.
Amgen has other drugs on a growth path, as well. Its 2018 migraine prevention launch Aimovig is leading sales in the CGRP class, reaching $306 million last year. Parsabiv, Prolia, Repatha, Blincyto and Nplate each grew at double-digit percentages, too.
And then there's psoriasis med Otezla, which Amgen acquired through a sale mandated by the FTC as part of Celgene's merger with Bristol Myers Squibb. Now, Amgen will aim to make the most of the oral immunology blockbuster. The company only picked up Otezla on Nov. 21, but the med had generated $178 million for Amgen by the end of 2019.
Going forward, Amgen expects low double-digit percentage sales increases from Otezla over the next five years, and it's additionally planning to seek approvals in new uses. Further, the company has opportunity to launch the med in countries where it’s approved but not yet marketed.
After the drugmaker’s sales dip in 2019, execs are projecting growth in 2020. This year, the company expects $25 billion to $25.6 billion in revenues. Like all drugmakers, it remains to be seen how much the COVID-19 pandemic will affect its performance.
Among other headlines last year, Amgen beat back a patent challenge from Novartis' Sandoz on blockbuster immunology drug Enbrel. Sandoz is appealing, but following an appeals hearing, an analyst wrote in early March that Amgen appeared likely to win.