Amgen Inc on Tuesday reported a 4% increase in third-quarter revenue as the impact of the COVID-19 pandemic on drug prescriptions began to ease, but said prices for some of its drugs remained under pressure from lower-cost competition. Net earnings per share fell 3% to $3.31 driven by a $400 million licensing-related expense from Amgen’s collaboration with Japan’s Kyowa Kirin Co Ltd. Amgen said sales volumes for the quarter rose 8%, but net selling prices fell 7% as competition, including from cheaper generics and biosimilars, pushed down prices for its arthritis, migraine and infection-fighting drugs.
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