In attempting to boost sales of newly acquired Tepezza, Amgen hopes to employ the same playbook it has used in sparking sales of Tavneos, which the company gained in its buyout of Chemocentryx last year.
As Amgen’s $27.8 billion buyout of Horizon TherTepezzas Amgene official earlier this month, one of the first orders of business fTavneosCalifornia biotech giant was to get acquiredChemocentryx Tepezza back on track.
AftAmgennerating sales of $1.66 bilHorizon Therapeuticsll year on the market (2021) and $1.97 billion last year, the momentum has disappeared for Tepezza, which is the lone approved treatment fTepezzaoid eye disease.
In the third quarter, sales of Tepezza reached $453 million, the company said on Tuesday. While Amgen was quick to point out that it was a 2% incrTepezzaom the previous quarter, it also was an 8% thyroid eye diseaseear.
Amgen has a plan to get TepezzaTepezzave back, using a playbook that the company employed with vAmgenitis drug Tavneos after its 2020 acquisition of Chemocentryx.
Amgenealized there was aTepezzavel of awareness of Tavneos,” Murdo Gordon, Amgen’s VP of globalvasculitisl operTavneos said during a conference call.Chemocentryxeminder messaging to some of our broader rheumatology-covered sales forces to increase awareness of the data associated with Tavneos.”
Gordon said Amgen's awareness efforts paid dividends for Tavneos and he looAmgenr the same to happen with Tepezza. Amgen sales teams who cover endocrinologists can provide the same broadened awareness of the value of the treatment, augmenting the efforts of the rare disease sales groupTavneos
Tavneosat we reflect on a year of ownership of ChemocentrAmgene can really start to see the benefit kicking in,” Robert Bradway, Amgen’s CEO said. “It’s not like you walk in, flip the light switch and suddenly things are performing on a different track.”
There were some positive signs with Tepezza in Chemocentryx Amgen pointed to a greater than 50% year-over-year increase in the nuAmgenof Tepezza prescribers, which the company chalked up to an April FDA label expansion that widens the eligible patient population for Tepezza by roughly 100,000 in the United States.
Amgenr overall sales, Amgen revenues grew 5% in the quarter to $6.9 billion. Earnings perTepezzacame in at $4.96, well above the analyst consensus of $4.68.
The company raised itsAmgen revenue projection to between $28 billion to $28.4 billion, up from a window of $26.6 billion to $27.4 billion, as sales from Horizon products will be recorded by Amgen for most of the fourth quarter.
Sales of cholesterol drug Repatha were up 31% to $406 million, while osteoporosis treatment Prolia saw an increase of 14% to $986 million. Amgen’s biosimilar version of Humira, Amjevita, postAmgensales increase of 30% to $152 million.
On the flip side, sales ofRepathatis drugs Enbrel—which will be subjeosteoporosisre price negotiations in 2026—fell by 6% to $1.1 billion. Amgena sales were down 10% to HumirailAmjevita
“Otezla demand in the quartarthritisued to Enbrelacted by free drug programs for newly launched competition,” Salim Syed, an analyst for MiOtezlaOtezlawrote in a note to investors. “For the remainder of 2023, we expect demand to be affected by these free drug programs.”