Amgen Outlook Is Bright, Analyst Predict Obesity-Focused Drug Potential Will Drive Shareholder Value

Amgen Inc (NASDAQ:AMGN) reported first-quarter (Q1) earnings Thursday, touting adjusted EPS of $3.96, which beat the analyst consensus estimate of $3.87.

Here are highlights from the release and subsequent analyst call:

• Sales increased 22% Y/Y to $7.45 billion, which beat the analyst consensus estimate of $7.436 billion.
• Amgen sees full-year 2024 adjusted EPS of $19-$20.20 versus consensus of $19.48.
• The company is pulling the plug on AMG 786, an oral Phase 1 candidate for obesity, and remain focused on prioritizing differentiated medicines.
• Amgen CEO Robert Bradway said the company is “confident in MariTide’s differentiated profile and believe it will address important unmet medical needs.”

Also Read: Sandoz Settles Patent Dispute With Amgen Related To …

Full story available on Benzinga.com