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Third quarter sales of Horizon's gout drug Krystexxa rose to $253 million from $192 million. Amgen raised its post-acquisition forecast for full-year sales to between $28 billion and $28.4 billion from a previous estimate of $26.6 billion to $27.4 billion. Total revenue for the quarter rose 4% to $6.9 billion, in line with analyst expectations. Sales of cancer drug Lumakras fell 31% to $52 million and sales of psoriasis drug Otezla fell 10% to $567 million. Sales of Amjevita, Amgen's new biosimilar version of AbbVie's (ABBV.N) blockbuster arthritis drug Humira, rose 30% to $152 million.
Persons: Robert Galbraith, Amgen, Jefferies, Michael Yee, Bill Smead, Tepezza, We're, we've, Peter Griffith, AMG340, William Blair, Matt Phipps, Lumakras, Otezla, Deena Beasley, Leroy Leo, Bill Berkrot Organizations: REUTERS, Horizon Therapeutics, Smead Capital Management, Wall Street, U.S . Federal Trade Commission, Thomson Locations: South San Francisco , California, California, Los Angeles, Bengaluru
REUTERS/Dado Ruvic/Illustration/File photo Acquire Licensing RightsOct 3 (Reuters) - The U.S. Food and Drug Administration staff reviewers said on Tuesday Amgen's (AMGN.O) late-stage study might not be sufficient to confirm the effectiveness for its lung cancer drug, as the firm pursues a traditional nod for the treatment. Amgen's drug was granted accelerated approval by the U.S. FDA in 2021 for advanced lung cancer patients with KRAS mutations whose disease has worsened after treatment with chemotherapy or other medicines. The U.S. health regulator grants the so-called accelerated approval based on data that show therapies are likely to work, and requires confirmatory trials later to give them traditional approval. Data from the study showed Lumakras reduced the risk of disease progression in patients with advanced lung cancer by 34%, compared with chemotherapy in a clinical trial. The agency is expected to make a decision on traditional approval for the drug by Dec. 24.
Persons: Dado Ruvic, Amgen's, William Blair, Matt Phipps, Lumakras, Bhanvi Satija, Shounak Dasgupta, Sherry Jacob, Phillips Organizations: REUTERS, U.S . Food, Drug Administration, U.S, FDA, Thomson Locations: U.S, Bengaluru
New Drugs Are Coming to Market at Sky-High Prices
  + stars: | 2023-03-09 | by ( Peter Loftus | ) www.wsj.com   time to read: 1 min
A new Amgen Inc. lung-cancer treatment, Lumakras, carried a hefty price tag when it came out in 2021: $17,900 per patient monthly. Just over a year later, in December 2022, a second drug for the same type of cancer, Krazati from Mirati Therapeutics Inc., had an even higher price: $19,750 a month—a 10% premium.
Mirati attracts fresh takeover interest - Bloomberg News
  + stars: | 2022-11-22 | by ( ) www.reuters.com   time to read: +1 min
Nov 22 (Reuters) - Mirati Therapeutics Inc (MRTX.O) is attracting fresh takeover interest from large pharmaceutical companies ahead of updates to its drug pipeline, Bloomberg News reported on Tuesday, citing people with knowledge of the matter. Larger drugmakers have been considering taking over the company, the report said, although there are currently no formal bids. Mirati has become a more attractive target for companies seeking to expand their cancer treatment offerings since larger rival Seagen Inc. (SGEN.O) opted to stay independent. The cancer drug developer has been weighing strategic options including a potential sale for some time, the report added. Reporting by Leroy Leo in Bengaluru; Editing by Krishna Chandra Eluri and Sriraj KalluvilaOur Standards: The Thomson Reuters Trust Principles.
"I do think there is a possibility we see launch prices go up," she said. Reuters GraphicsPorter, who championed inflation-based caps on drug prices, is calling for additional national legislation to link launch prices to how well a drug works. The report found that the average launch price of a self-administered cancer drug, after adjusting for inflation, rose by nearly 26% to $238,000 between 2017 and 2021. By 2022, six out of the eight newly-launched oral cancer drugs had prices over $200,000 per year. Based on current trends, the report calculated that by 2026, when Medicare will first be able to negotiate drug prices, the average self-administered cancer drug launch price will be nearly $325,000 per year and over $525,000 for pills and biologics.
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