Amgen misses top-line estimate, Repatha lagging

Amgen Inc. (NASDAQ:AMGN) fell $5.61 to $159 in early after-hours trading after it reported a year-over-year decrease in quarterly revenue. Sales of potential growth driver Repatha evolocumab remained lackluster, while lower demand for Enbrel etanercept and softening sales of other older drugs weakened the company's top line.

The company reported $5.46 billion in 1Q17 revenue, down from $5.52 billion in 1Q16 and missing a consensus estimate of $5.6 billion. Non-GAAP EPS of $3.15 was up from $2.90 in 1Q16 and beat the $3 consensus. ...