Below are some highlights from fourth quarter and full year 2020 earnings reports recently released by biologics and biosimilars companies:
- At the end of last month, Johnson & Johnson reported fourth quarter sales of $22.5 billion reflecting growth of 8.3% and full year sales of $82.6 billion reflecting growth of 0.6%. J&J noted that pharmaceutical worldwide sales grew 8.4% and was driven by several products including its biologics STELARA (usketinumba), DARZALEX (daratumumab), and TREMFYA (guselkumab), and that the growth was partially offset by, among other things, biosimilar competition for REMICADE (infliximab).
- This week, Pfizer reported fourth quarter revenues of $11.7 billion reflecting 11% operational growth and full year revenues of $41.9 billion, reflecting 3% operational growth. Pfizer noted cited biosimilars as one factor driving growth, noting that “[b]iosimilars…grew 86% operationally to $525 million, primarily driven by recent oncology biosimilar launches of Ruxience (rituximab), Zirabev (bevacizumab) and Trazimera (trastuzumab) in the U.S. and other global markets, as well as continued growth from Retacrit (epoetin), primarily in the U.S.”
- Also this week, Amgen reported fourth quarter total revenue increased 7% to $6.6 billion, noting that the 8% increase in global sales was driven, in part, by sales of Amgen’s MVASI bevacizumab biosimilar and its KANJINTI trastuzumab biosimilar, and that sales were partially offset by biosimilar competition for Amgen’s mature products. Amgen also reported full year revenues increased 9% to $25.4 billion. Specifically, Amgen reported that MVASI generated $280 million of sales in the fourth quarter of 2020, and $798 million of sales for the full year, and that in the U.S., MVASI became the leader of the bevacizumab segment in the fourth quarter. They also reported that “KANJINTI generated $158 million of sales in the fourth quarter of 2020, and $567 million for the full year, with a 41% average share of the trastuzumab segment in the U.S for the fourth quarter.”
- Today, Biogen announced its Q4 and full year 2020 financial results. Biogen’s fourth quarter total revenues were $2,853 million, a 22% decrease versus the prior year. Full year total revenues were $13,445 million, a 6% decrease versus the prior year. Among the recent events, Biogen noted that in the fourth quarter of 2020, Samsung Bioepis Co., Ltd. and Biogen announced that the FDA accepted for review the BLA for SB11, a proposed biosimilar referencing Lucentis® (ranibizumab), and that in January 2021, FDA extended the review period for Biogen’s aducanumab BLA with a new action date on June 7, 2021.
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