When Amgen Inc. (NASDAQ: AMGN) released its third-quarter financial results after the markets closed on Tuesday, the firm said that it had $3.66 in earnings per share (EPS) and $5.7 billion in revenue. That compared with consensus estimates of $3.53 in EPS and $5.63 billion in revenue, as well as the $3.69 per share on $5.9 billion posted in the same period from last year.

During the most recent quarter, revenues decreased 3% year over year, reflecting the impact of biosimilar and generic competition against key products. Product sales fell 1% in the period as well.

In terms of its product sales, Amgen reported as follows:

• Prolia sales increased 18% year over year to $630 million
• Evenity sales were $59 million
• Repatha sales increased 40% to $168 million
• Aimovig sales were $66 million
• Parsabiv sales increased 54% $157 million
• Kyprolis sales increased 15% to $266 million
• Xgeva sales increased 10% to $476 million
• Vectibix, sales increased 8% to $196 million
• Nplate sales increased 10% to $195 million
• Blincyto sales increased 47% to $85 million
• Biosimilar sales were $173 million.
• Enbrel sales increased 6% to $1.37 billion
• Neulasta sales decreased 32% to $711 million
• Neupogen sales decreased 36% to $54 million
• Epogen sales decreased 15% to $215 million
• Aranesp sales decreased 5% to $452 million
• Sensipar/Mimpara sales decreased 73% to $109 million

Looking ahead to the full year, the company expects to see EPS in the range of $14.20 to $14.45 and revenue between $22.8 billion and $23.0 billion. Consensus estimates are calling for $14.39 in EPS and $22.85 billion in revenue for the year.

Robert A. Bradway, board chair and chief executive, commented:

Amgen continues to execute well in a dynamic environment, with many of our innovative medicines delivering double-digit, volume-driven growth, complemented by the strong performance of our recently launched biosimilar products. We continue to advance numerous first-in-class medicines in our pipeline, while also pursuing external opportunities that will contribute to our long-term growth, such as our pending acquisition of Otezla.

Shares of Amgen closed Tuesday at $208.99, with a 52-week range of $166.30 to $211.90. The consensus price target is $215.62. Following the announcement, the stock was initially flat in the after-hours trading session.

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