Amgen 4th-qtr earnings beat estimates, sales in line
US biotech giant Amgen (Nasdaq: AMGN) late yesterday announced financial results for the fourth quarter and full year 2021, with earnings coming in ahead of analysts’ forecasts.
For the fourth quarter, total revenues increased 3% to $6.8 billion in comparison to the like 2020 period, close to analysts’ expectations of $6.87 billion. Sales were driven by increased ‘other revenue’ from the Eli Lilly (NYSE: LLY) COVID-19 manufacturing collaboration.
The highest growth in the quarter came from Amgen's Evenity (romosozumab), an osteoporosis treatment, sales of which surged 59% year over year to $143 million. However, sales from Amgen's biggest money-maker, Enbrel (etanercept), declined 13% to $1.11 billion.
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