Amgen Q2 revenue dips 3% but profit tops estimates

share, a year ago.

Total revenue of $5.87 billion, while lower than a year ago, topped analysts’ estimates of $5.66 billion.

Sales of potent cholesterol fighter Repatha rose 3% to $152 million, below Wall Street estimates of $157 million.

Sales of Amgen’s new migraine drug Aimovig totaled $83 million for the quarter, beating the $77.4 million projected by analysts.

But sales of Neulasta, which fights infections by boosting white blood cells, fell 25% to $824 million, while sales of kidney drug Sensipar dropped 71% to $122 million as competition from cheaper generics and biosimilars increased.

The company still raised the lower end of its fullyear outlook and now expects adjusted earnings of $13.75 to $14.30 per share on revenue of $22.4 billion to $22.9 billion.

It had previously forecast $13.25 to $14.30 per share on revenue of $22 billion to $22.9 billion. (RTRS)