Thousand Oaks, CA-based Amgen is one of the biggest biotech companies in the world, with a strong presence in the oncology/hematology, cardiovascular disease, neuroscience, inflammation, bone health and nephrology and neuroscience markets. The company used advances in cellular and molecular biology to develop two of the biotech industry’s earliest and most successful drugs, Epogen (anemia) and Neupogen (white blood cell stimulant). Amgen successfully launched two next-generation products, Aranesp and Neulasta.  Meanwhile, the acquisition of Immunex Corporation gave Amgen access to the multi-blockbuster drug, Enbrel. However, all these older drugs are facing declining sales due to biosimilar or branded competition, which is being somewhat offset by its blockbuster growth drugs like Prolia and Xgeva. Other products are Repatha, Blincyto, Vectibix, Nplate, Kyprolis, Evenity, Otezla, Aimovig, Lumakras/Lumykras, Tezspire, Tavneos, Kanjinti, Mvasi and Amgevita biosimilars.

Amgen also has a promising pipeline of cancer drugs. It has one of the strongest cash positions in the biotech sector, which could be used to acquire more pipeline assets that could fuel long-term growth. Biosimilar drugs are also a key part of Amgen’s growth strategy.

In October 2023, Amgen acquired Horizon Therapeutics for $27.8 billion.

Epogen/Aranesp, Neupogen/Neulasta and Enbrel account for around 30% of Amgen’s product revenues in 2022. Enbrel alone accounted for 16.6% of sales. Prolia accounted for 14.6% of product sales in 2022. While Xgeva accounted for 8.1% of sales, Otezla accounted for 9.2% of Amgen’s product sales in 2022.

Amgen derives the bulk of its revenues from the domestic market (71.5% of total product sales in 2022). The company posted global sales of $26.3 billion in 2022, up 1% year over year.