Horizon buy looms large for Amgen in first quarter

28 April 2023

Californian biopharmaceutical firm Amgen (Nasdaq: AMGN) has reported a 2% drop in revenues in the first quarter, to $6.1 billion, a reflection of falling sales from COVID-19 therapeutics.

The result fell a little short of most analysts’ expectations, with reported operating income decreasing from $2.5 billion to $1.9 billion.

The earnings per share (EPS) result almost doubled, from $2.68 to $5.28, driven by other income including investments in Sino-American firm BeiGene (HKEX: 06160).

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