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Amgen’s Second Quarter 2011 Revenue Increased 4 Percent to $4.0 Billion
Date:7/29/2011

reflects a decrease in dose utilization due to implementation of the bundled payment system, offset slightly by patient population growth.  The Company announced that it expects an additional decrease in dose utilization related to label changes and reimbursement changes proposed by the Centers for Medicare & Medicaid Services, should the proposal be implemented as drafted.  If implemented, in aggregate, the Company expects dose utilization would decline in 2011 as compared to 2010 by 20 to 25 percent, offset partially by patient population growth and an increase in the average net sales price.  The Company believes that the majority of the dose utilization changes will be implemented by the end of 2011 with some residual impact early in 2012.  The Company also believes that mean hemoglobin levels will remain above 10 g/dL in the dialysis setting.

Combined Neulasta® (pegfilgrastim) and NEUPOGEN® (Filgrastim) sales increased 13 percent to $1,326 million in the second quarter of 2011 versus $1,174 million in the second quarter of 2010.  Combined U.S. Neulasta and NEUPOGEN sales increased 15 percent to $999 million in the second quarter of 2011 versus $868 million in the second quarter of 2010, driven primarily by increases in unit demand and the average net sales price. Approximately half of the unit demand increase reflects underlying Neulasta demand growth including increased first cycle penetration due to uses of newer, more myelosuppressive chemotherapy regimens. The remaining unit demand growth was primarily driven by the timing of customer orders.  Combined international Neulasta and NEUPOGEN sales increased 7 percent to $327 million in the second quarter of 2011 versus $306 million in the second quarter of 2010.  Excluding the $14 million favorable impact of foreign exchange, combined international Neulasta and NEUPOGEN sales increased 2 percent reflecting growth in Neulasta due, in part, to continued conv
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SOURCE Amgen
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