Amgen's Q4 results beat expectations, continues to advance clinical research on next-generation weight loss drugs
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Gelonghui, February 4th | Amgen announced its financial results for the fourth quarter of last year, with revenue increasing by 9% year-on-year to $9.87 billion, surpassing analysts' average expectation of $9.47 billion; net profit soared by over 112% year-on-year to $1.33 billion, and adjusted earnings per share were $5.29, far exceeding analysts' expectation of $4.73. During the period, product sales grew by 7%, mainly due to a 10% increase in product volume. However, part of the growth was offset by a 4% decline in prices. Looking ahead to this year, Amgen expects revenue to be between $37 billion and $38.4 billion, and adjusted earnings per share to be between $21.6 and $23, compared to analysts' expectations of $37.19 billion and $20.63, respectively. In addition, Amgen is currently conducting six phase III trials of the experimental drug MariTide, involving obesity and related diseases, including heart disease and sleep apnea. Amgen also plans to launch a phase III clinical study of Maritide for patients with type 2 diabetes this year.
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