Amgen Q3 profit jumps 24 percent on double-digit rise in sales figures
APTRENTON, New Jersey--Biotech drugmaker Amgen Inc. says its third-quarter profit jumped 24 percent and beat analysts' expectations as sales of more than a half-dozen of its drugs increased by double digits.
October 24, 2013, 12:07 am TWN
Amgen, which sells arthritis treatment Enbrel and Prolia for osteoporosis, says net income was US$1.37 billion, or US$1.79 per share, up from US$1.11 billion, or US$1.41 per share, a year earlier.
The Thousand Oaks, California-based company says earnings were US$1.94 per share excluding one-time items. Analysts were expecting US$1.76 per share.
Revenue was up 10 percent at US$4.75 billion. Analysts expected US$4.6 billion.
The company also raised the lower end of its 2013 profit forecast by a nickel and now expects US$7.35 to US$7.45 per share.