Amgen's Imdelltra Sales Soar 115% on Lung Cancer Treatment Success
Amgen's Imdelltra sales surged 115% to $288 million in the second quarter, making it one of the company's top-performing drugs. This significant increase is attributed to the success of the combination therapy with AstraZeneca's Imfinzi in a late-stage lung-cancer trial.
The DeLLphi-305 study involved 563 patients and showed that the combination extended overall survival and progression-free survival, while also producing better response rates compared to Imfinzi alone. Although Amgen reported no new safety signals, the crucial efficacy numbers remain under wraps until a future medical meeting.
The muted share-price reaction suggests investors are waiting for more information before assigning Imdelltra a larger commercial opportunity. With an annualized pace above $1.15 billion and only 7.05% above its estimated value, Amgen's shares sit at $391.65.