Amgen has reported a net income of $746m, a $1.38 per diluted share, for the second quarter ended 30 June 2024, a 46% decline compared to $1.38bn, or $2.570 per diluted share, for the respective quarter in 2023.
The company has reported a net loss of $113m, or $0.21 per diluted share, for the first quarter of 2024 (Q1 2024).
The US drugmaker reported total revenues of $8.38bn for Q2 2024, a 20% rise compared to $6.98bn for the same quarter in 2023, and a 12.6% increase compared to $7.44bn for Q1 2024.
Amgen reported total operating expenses of $6.47bn for Q2 2024, a 50% rise compared to $4.30bn for the respective period in the previous year.
The biotechnology company reported an income before income tax of $794m for Q2 2024, a 50% decline compared to $1.61bn for the same quarter in 2024.
The company attributed the fall in net income to higher operating expenses, including amortisation expenses from Horizon-acquired assets and incremental expenses from Horizon, which were partially offset by higher revenues.
Amgen chairman and CEO Robert Bradway said: “With a strong, balanced portfolio of in-market products and a rapidly advancing pipeline of innovative medicines, we are confident in our ability to deliver attractive long-term growth.”
Amgen reported a net income of $633m, or $1.17 per diluted share, for the six months ended 30 June 2024, an 85% decrease compared to $4.22bn, or $7.86 per diluted share, for the same period in 2023.
The US drugmaker reported total revenues of $15.83bn for the first half of 2024 (H1 2024), a 21% rise compared to $13.09bn for the same period in the previous year.
The biotechnology company reported total operating expenses of $12.93bn for H1 2024, a 52% rise compared to $8.48bn for the respective period in 2023.
Amgen reported an income before income tax of $726m for H1 2024, an 85% decline compared to $5.05bn for the same period in the previous year.
In June this year, Amgen secured the US Food and Drug Administration (FDA) approval for its Blincyto to treat certain types of acute lymphoblastic leukaemia in adults and children.
