That puts Amgen, the world’s largest biotechnology company by revenue, ahead by six months to a year of its closest competitor in the drug class, a compound being developed by Sanofi (SAN) and Regeneron Pharmaceuticals Inc. (REGN), according to Eric Schmidt, an analyst with Cowen & Co. He estimates Amgen’s drug may target as many as 17 million patients in the U.S., Europe and Japan.
“My race is really getting this to patients as fast as we possibly can,” Sean Harper, head of research and development at Amgen, said in a telephone interview. “It’s a substantial global unmet need.”
Analysts estimate Amgen’s drug could draw more than $1 billion in sales in 2018, and getting to market before competitors may tip the scales in the company’s favor.
FDA will wait for outcomes data regardless and likely review both at same time. These biomarker studies are overhyped for day traders. REGN earnings will drive to all-time high, that's real money not fantasy.