uploads///Enbrel

Where Amgen’s Enbrel and Nplate Stand after 2Q17

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Aug. 17 2017, Updated 9:06 a.m. ET

Enbrel revenue trends

In 2Q17, Amgen’s (AMGN) Enbrel generated revenues of ~$1.5 billion, which represented a ~1% YoY (year-over-year) decline and a ~24% QoQ (quarter-over-quarter) rise. In 2Q17, Enbrel generated revenues of ~$1.4 billion from the US, while $55 million came from Canada.

In 2Q17, the YoY decline in growth rate primarily caused a lower unit demand, which was partially offset by an increase in net selling price.

In 2Q17, the high QoQ revenue growth rate boosted the overall improvement in the growth rates of AMGN’s Rheumatology and Dermatology segments.

In 2Q17, due to the expiry of Enbrel’s residual royalty payments to Pfizer (PFE), the SG&A (selling, general and administrative) expenses fell 7% on a YoY basis, which was partially offset by expenses for new product launches.

In June 2017, the EC (European Commission) approved Novartis’ (NVS) Erelzi, a biosimilar of Amgen’s Enbrel. In Europe, Samsung Bioepis, a joint venture between Biogen and Samsung Biologics, serves as another Biosimilar of Amgen’s Enbrel.

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Nplate revenue trends

In 2Q17, Amgen’s Nplate generated revenues of ~$164 million, which represented a ~15% YoY rise and a 6% QoQ rise. In the US, Nplate generated revenues of ~$99 million in 2Q17, or ~18% higher YoY. Outside the US, the drug generated revenues of ~$65 million, which was 12% higher YoY.

Growth in Amgen’s product sales could boost the share prices of the iShares US Healthcare ETF (IYH). Amgen makes up ~4.0% of IYH’s total portfolio holdings.

Notably, Enbrel faces stiff competition from Johnson & Johnson’s (JNJ) Remicade and Simponi and AbbVie’s Humira. To know more about Enbrel’s revenue statistics, please refer to Market Realist’s “Enbrel Strengthens Its Position in Rheumatology and Dermatology Segments.”

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