The sales momentum of these products is likely to continue in the first quarter helped by higher demand. The strong sales of these products, coupled with international expansion, could fuel growth for the company. However, Amgen continues to face challenges around Repatha, which has led to price cuts that might, in turn, hurt sales for this quarter.
Amgen also faces competitive pressures for products like Enbrel and Sensipar. Last quarter, Sensipar recorded single-digit revenue growth while Enbrel saw a drop in sales. The loss of patent exclusivity for some products is also likely to pose difficulties for the company. Investors should watch out for updates on important products such as Aimovig and Evenity as well.
For the full year of 2019, Amgen has guided for total revenues to come in the range of $21.8 billion to $22.9 billion and earnings to come in the range of $11.55 to $12.75 per share. Adjusted EPS is expected to be in the range of $13.10 to $14.30.
Amgen’s stock has fallen 5% so far this year and was down slightly by 0.4% in afternoon trade on Monday.
The company’s rivals such as Pfizer (NYSE: PFE) and Merck (NYSE: MRK) are also expected to report earnings on Tuesday.