Amgen’s Horizon Acquisition Fuels Revenue Growth and Advances Obesity Drug MariTide

Revenue Boost:

Amgen reported a 22% increase in revenue to $7.4 billion, driven significantly by the acquisition of Horizon Therapeutics.
The acquisition contributed $914 million in sales, with notable gains from Horizon's products like Tepezza, Krystexxa, and Uplizna.

Horizon's Impact:

Tepezza, a treatment for thyroid eye disease, generated $424 million in the quarter, though sales were down sequentially.
Krystexxa, a gout treatment, saw a 26% increase to $235 million, and Uplizna, for neuromyelitis optica spectrum disorder, increased 48% to $80 million.

MariTide and Obesity Focus:

Amgen's investigational obesity drug MariTide has garnered significant attention, with the company affirming its plans to advance this promising therapy.

Strategic Rationale:

The acquisition of Horizon strengthens Amgen's portfolio with first-in-class medicines, leveraging Amgen's global presence and biologics capabilities.
The deal is expected to drive long-term growth, enhance revenue, and be accretive to non-GAAP EPS from 2024.

Other Key Products:

Amgen's existing products like Prolia, Enbrel, Tezspire, Evenity, Repatha, and Blincyto also saw significant sales increases.
Enbrel, despite a 2% year-over-year decline, remains a critical product for Amgen, though its sales are impacted by annual benefit plan changes.

Future Outlook:

Amgen is optimistic about its growth prospects, with plans to share data on Tezspire's potential for treating chronic obstructive pulmonary disease (COPD) and advancing Blincyto into earlier treatment lines.
The company aims to maximize the value of Horizon's portfolio and accelerate the development of new therapies.