Amgen's Biosimilar Portfolio Surges, Projecting $4 Billion in Sales by 2030

Amgen's biosimilar business is experiencing significant growth, with recent launches and a robust pipeline positioning the company as a leader in the rapidly expanding biosimilar market. The pharmaceutical giant's strategic focus on being first-to-market with high-quality biosimilars is paying dividends, as evidenced by strong sales figures and positive reception from healthcare providers.

Recent Launches Bolster Revenue

Amgen's biosimilar portfolio contributed over $2.2 billion to the company's $33.4 billion revenue in 2024, marking a 16% increase from the previous year. Two recent launches have further strengthened this position:

• Pavblu, a biosimilar version of Regeneron and Bayer's eye disease treatment Eylea, generated $31 million in sales during its first nine weeks on the market.
• Wezlana, a biosimilar of Johnson & Johnson's immunology drug Stelara, was launched last month, with early market reception reportedly positive.

Murdo Gordon, Amgen's global commercial operations chief, noted enthusiastic feedback from retina specialists regarding Pavblu, highlighting the importance of Amgen's high-quality, easy-to-use prefilled syringe in driving adoption.

Established Products and Future Pipeline

While new launches are garnering attention, Amgen's established biosimilars continue to perform well:

• Amjevita, the biosimilar version of AbbVie's Humira, saw sales reach $763 million in 2024, a 22% increase from 2023.
• Mvasi, Amgen's biosimilar of Roche's Avastin, generated $727 million in sales, despite a 9% year-over-year decline.

Looking ahead, Amgen's biosimilar pipeline remains robust:

• Bkemv, a biosimilar of AstraZeneca's Soliris, is set to launch in Q2 2025.
• A phase 3 trial readout for a biosimilar version of Bristol Myers Squibb's Opdivo is expected in Q2 2025.
• Biosimilars for Merck's Keytruda and Roche's Ocrevus are in earlier stages of development.

Strategic Positioning and Financial Outlook

Amgen's success in the biosimilar market is attributed to its strategy of being in the "first wave" of launches for each product. This approach, combined with the company's efficient operations and leveraging of its broader manufacturing and operational footprint, has positioned Amgen as an industry leader in biosimilars.

Peter Griffith, Amgen's CFO, projects biosimilar sales to reach $4 billion by the end of the decade, underscoring the growing importance of this segment to Amgen's overall business. The company's ability to capitalize on its existing infrastructure and expertise in biologics manufacturing has allowed it to build what executives describe as an "industry-leading biosimilar franchise."

As the biosimilar market continues to expand, Amgen's strong portfolio and pipeline, coupled with its strategic focus on quality and early market entry, position the company to maintain its leadership in this increasingly competitive and lucrative sector of the pharmaceutical industry.