Amgen

4Q Revenues: $9.1 billion (+11%)

4Q Earnings: $627 million (-18%)

FY Revenues: $33.4 billion (+19%)

FY Earnings: $4.1 billion (-39%)

Comments: Product sales grew 11%, primarily driven by 14% volume growth. Excluding sales from the Horizon Therapeutics acquisition, product sales grew 10%.

Ten products delivered double-digit sales growth in the quarter, including Repatha, up 45% to $606 million, BLINCYTO, up 58% to $381 million, TEZSPIRE, up 67% to $296 million, EVENITY, up 36% to $431 million, and TAVNEOS, up 84% to $81 million.

Prolia sales were up 5% to $1.2 billion in the quarter. Enbrel sales were flat at $1.0 billion.

Results include $1.2 billion of sales from rare disease products, driven by TEPEZZA, KRYSTEXXA, UPLIZNA, and TAVNEOS.

Earnings reflect acquisition-related costs related to the Horizon acquisition.