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Amgen 1Q Profit Rises 5.2% On Broad Sales Growth

DOW JONES NEWSWIRES Amgen Inc.'s (AMGN) first-quarter earnings rose 5.2% as the biopharmaceutical company reported sales growth across many of its products, helping results beat expectations. The company has been trying to bolster its research-and-development pipeline and grow sales of its bone-building drugs to help offset declining sales of its key anti-anemia drugs, which have slumped in recent years due to safety concerns and intensifying competition. Amgen recently completed $1.16 billion acquisition of Micromet Inc. (MITI), a deal expected to strengthen its cancer-drug research pipeline. Amgen reported a profit of $1.18 billion, or $1.48 a share, up from $1.13 billion, or $1.20 a share, a year earlier. Excluding acquisition and restructuring-related expenses and other items, earnings were up at $1.61 from $1.34. Revenue increased 9.2% to $4.05 billion. Analysts polled by Thomson Reuters most recently projected earnings of $1.45 on revenue of $3.93 billion. Operating margin rose to 36.4% from 34.9%. Combined sales of Neulasta and Neupogen, which are used to ward off infections undergoing cancer treatment, rose 9% to $1.34 billion. The company has been counting on its new bone-building drugs, Xgeva and Prolia, to boost overall sales growth. Sales of Xgeva, a drug designed to prevent bone injuries in cancer patients, were up 14% to $153 million. Sales of Prolia, for osteoporosis in women, were up 9% to $153 million. Shares of Amgen, which affirmed its 2012 guidance, were up 1% to $69.32 in recent after-hours trading. -By Tess Stynes, Dow Jones Newswires; 212-416-2481; [email protected]

Stock News for Amgen Inc. (AMGN)
DateTimeHeadline
01/19/201717:29:35Amended Statement of Ownership (sc 13g/a)
01/17/201710:00:00deCODE Study Shows that Variants in the Sequence of the Genome...
01/17/201705:00:00deCODE Study Shows that Variants in the Sequence of the Genome...
01/13/201717:17:58Post-effective Amendment to an S-8 Filing (s-8 Pos)
01/13/201717:11:28Post-effective Amendment to an S-8 Filing (s-8 Pos)
01/13/201716:21:00Supreme Court to Weigh How Soon Firms Can Sell Copycat Biotech...
01/10/201716:12:00Study Results Published in the Journal of the American Medical...
01/09/201718:21:00Amgen Statement on January 9, 2017, U.S. District Court Decision
01/09/201706:12:09Current Report Filing (8-k)
01/09/201706:00:00Amgen And DaVita Enter Into New Sourcing And Supply Agreement
01/09/201704:00:00Amgen and Immatics Enter Strategic Collaboration to Develop Novel...
01/06/201714:29:00Sanofi Investors Count Cost of Praluent Ruling -- Update
01/06/201708:41:00Sanofi Investors Count Cost of Praluent Ruling
01/06/201703:02:00Sanofi Loses Patent Case -- WSJ
01/05/201721:34:00Court Grants Permanent Injunction For Infringement Of Amgen's...
01/05/201721:07:00Judge Rules Against Sanofi and Regeneron in Patent Case -- Update
01/05/201720:25:00Judge Rules Against Sanofi and Regeneron in Patent Case
01/04/201716:00:00Amgen To Present At The 35th Annual J.P. Morgan Healthcare Conference
12/22/201619:27:00Donald Trump's Pick for Health Secretary Traded Medical Stocks...
12/20/201616:20:00Amgen Announces 15 Percent Increase In 2017 First Quarter Dividend

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