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How Amgen’s Prolia and Xgeva Performed in 3Q17

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Prolia revenue trends

In 3Q17, Amgen’s (AMGN) Prolia generated revenues of around $464 million, which reflected ~22% growth on a year-over-year (or YoY) basis and an 8% decline on a quarter-over-quarter basis.

In 3Q17, Prolia generated revenues of around $298 million, a 20% increase on a YoY basis, in the US market compared to $249 million in 3Q16. Higher unit demand was the primary factor behind the revenue growth of Prolia.

Prolia is used for the treatment of postmenopausal women with osteoporosis who are at high risk for bone fractures. In October 2017, the US Food and Drug Administration accepted Amgen’s supplemental biologics license application for Prolia for the treatment of individuals with glucocorticoid-induced osteoporosis. The FDA has set a Prescription Drug User Fee Act action date of May 28, 2018.

Prolia competes with Novartis’s (NVS) Reclast, Merck’s (MRK) Fosamax, Eli Lilly’s (LLY) Forteo, and others.

Xgeva revenue trends

In 3Q17, Amgen’s Xgeva generated revenues of around $387 million, a ~2% decline on a YoY basis and a ~2% decline on a quarter-over-quarter basis. In 3Q17, in the US market, Xgeva generated revenues of around $282 million compared to $296 million in 3Q16. In 3Q17, outside the US market, Xgeva generated revenues of around $105 million compared to $98 million in 3Q16.

The lower unit demand of Xgeva was primarily a result of a decline in revenues in 3Q17, which was partially offset by an increase in net selling price.

The growth in sales of Amgen’s Prolia and Xgeva could boost the PowerShares QQQ (QQQ). Amgen makes up about ~1.8% of QQQ’s total portfolio holdings.

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