Pharma Q4 2012 roundup – Amgen, BMS, Novartis

Hannah Blake

pharmaphorum

This week, a number of pharma companies have reported their Q4 and full-year 2012 financial results.

Amgen

It was positive news for Amgen who announced an 11% increase in revenues, to US $17.3 billion, for the full year 2012 versus 2011. The company had a 9 % product sales growth, which was driven largely by rheumatoid arthritis drug Enbrel (etanercept), XGEVA (denosumab) and Prolia (denosumab).

“We achieved strong operating performance in 2012 as we delivered for patients and created value for shareholders. We enter 2013 with good momentum, a broad late-stage pipeline and a continued focus on building our business internationally.”

Robert A. Bradway, chairman and chief executive officer at Amgen.

In response to the positive revenue, Amgen has adjusted its earnings per share by an increase of 22% to US $6.51.

Bristol-Myers Squibb (BMS)

In Q4 2012, BMS suffered a decrease in net sales of 23% compared to the same period a year ago, following the US patent expiration of Avapro / Avalide in March 2012 and Plavix in May 2012. Excluding these patent expirations, net sales grew by 13% compared to Q4 2011.

BMS also gained some significant regulatory approvals in the fourth quarter, which should see a boost in sales in the years to come. Eliquis was approved in the US, Europe, Japan, Canada and South Korea to reduce the risk of stroke in patients with nonvalvular atrial fibrillation, while Forxiga was approved in Europe for the treatment of type 2 diabetes. BMS co-develops and co-commercialise Forxiga with its partner, AstraZeneca.

For 2013, BMS has set its GAAP EPS guidance range from US $1.54 to $1.64.

Novartis

Group net sales for Novartis were up 2% in the fourth quarter, reaching a total of $14.7 billion. Full year net sales were $56.7 billion.

Novartis also faced patent expirations in 2012, but delivered on strong innovation to offset these losses. The company had 17 major approvals in 2012, including Afinitor for advanced breast cancer in the US and EU, and has an industry-leading pipeline of over 200 projects in clinical development.

“Our pipeline is expected to deliver a record number of near-term approvals and filings, and with our strong global commercial capacity we anticipate 14 products to reach blockbuster status by 2017, up from 8 in 2012. After our 2013 patent expirations are behind us, our relentless focus on innovation, growth, and productivity is expected to result in Group net sales growth of at least mid-single digits in both 2014 and 2015, with core operating income growing ahead of sales.”

Joseph Jimenez, CEO of Novartis.

The global pharma company expects 2013 sales to be in line with 2012, after absorbing impact of generic competition, which could amount to as much as $3.5 billion.

In other news…

Johnson &amp, Johnson reported better-than-expected Q4 results, while Abbott’s profit fell 35%.

Next Friday (1st Feb), look out for the fourth quarter results of AstraZeneca, Roche, Pfizer, Merck and Novo Nordisk.

On Friday 8th February, don’t miss the fourth quarter financial reports of Sanofi and GSK.

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Reference links:

BMS press release

Amgen press release

Novartis press release

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