Amgen gives biosimilars guidance

At a business review on Thursday, Amgen Inc. (NASDAQ:AMGN) offered guidance on its six-product biosimilar portfolio, which the company said should have a first commercial launch in 2017 and generate up to $2 billion in peak revenues. The biotech did not disclose a time frame for when it expects to hit peak revenues. Amgen also revealed for the first time that it and Actavis Inc. (NYSE:ACT) are developing biosimilar versions of autoimmune drugs Humira adalimumab and Remicade infliximab. Last month, the partners unveiled the four cancer drugs for which they are developing biosimilars under a 2011 deal (see BioCentury Extra, Jan. 29).

Amgen also said it will report pivotal data for eight programs in its innovative therapeutic pipeline over the next three years, and said it plans to launch a more "cost-effective suite" of manufacturing technologies for biologics in its pipeline by 2017. Additionally, the biotech increased its 2013 EPS guidance to $7.05-$7.35 from $6.85-$7.15 due to federal settlements that will result in a decrease in the company's corporate tax rate for the year by two points. Amgen maintained its 2013 revenue guidance of $17.8-$18.2 billion. ...