• Amgen reports strong 2024 performance with $33.4 billion revenue, but faces patent expiration challenges for blockbusters Otezla and Enbrel, driving strategic pivot towards biosimilars and portfolio diversification.
• Company targets $4 billion in biosimilar sales by 2030, launching Wezlana and Pavblu, while advancing development in four key therapeutic areas: oncology, general medicine, inflammation, and rare disease.
• Strategic initiatives include expansion of BiTE platform in oncology, development of obesity drug MariTide, and international market penetration for rare disease treatments following Horizon Therapeutics acquisition.