ADVFN - Advanced Financial Network.
HOME» NASDAQ » A » AMGN Stock Price » AMGN Stock News

Amgen Inc. Share News

 Amgen Inc. (mm) Stock Price
AMGN Stock Price
 Amgen Inc. (mm) Stock Chart
AMGN Stock Chart
 Amgen Inc. (mm) Stock News
AMGN Stock News
 Amgen Inc. (mm) Company Information
AMGN Company Information
 Amgen Inc. (mm) Stock Trades
AMGN Stock Trades

Amgen 2nd-Quarter Profit Rises 8.2%; 2012 Outlook Raised

By Tess Stynes Amgen Inc.'s (AMGN) second-quarter earnings rose 8.2% as weaker sales of the biopharmaceutical company's anemia drugs were offset by growth of other treatments. Shares rose 4.7% to $83 in after-hours trading Thursday as adjusted earnings and revenue beat expectations and the company raised its 2012 outlook. Through the close, the stock was up about 23% this year. For the year, the company raised its per-share earnings estimate to a range of $6.20 to $6.35 on revenue of $16.9 billion to $17.2 billion, from its prior estimates for $5.90 to $6.15 and $16.1 billion to $16.5 billion. Amgen has been pursuing deals to bolster its research-and-development pipeline and grow sales of its bone-building drugs to help offset declining sales of its anti-anemia drugs, which have slumped in recent years due to safety concerns and intensifying competition. Amgen recently completed a $1.16 billion acquisition of Micromet Inc., a deal expected to strengthen its cancer-drug research pipeline. Amgen reported a profit of $1.27 billion, or $1.61 a share, up from $1.17 billion, or $1.25 a share, a year earlier. Excluding acquisition-related charges, stock-compensation expenses and other items, earnings were up at $1.83 from $1.37. Revenue increased 13% to $4.48 billion, including 8% growth in product sales. Analysts polled by Thomson Reuters most recently projected earnings of $1.54 a share on revenue of $4.08 billion. Combined sales of Neulasta and Neupogen, which are used to ward off infections in patients undergoing cancer treatment, grew 2% mainly on an increase in U.S. average selling prices. Enbrel sales jumped 11%. However, sales of anti-anemia drugs Aranesp and Epogen were down about 8% and 3%, respectively. The company has been counting on its new bone-building drugs, Xgeva and Prolia, to boost overall sales growth. Second-quarter sales of Xgeva, a drug designed to prevent bone injuries in cancer patients, saw sales increase 17% from the first quarter. Sales of Prolia, for osteoporosis in women, climbed 36% quarter to quarter. Write to Tess Stynes at tess.stynes@dowjones.com Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Stock News for Amgen Inc. (AMGN)
DateTimeHeadline
07/30/201414:45:16MARKET SNAPSHOT: S&P 500 Turns Positive As Fed Calms Rate-hike...
07/30/201413:15:33MARKET SNAPSHOT: U.S. Stocks Fall On Rate-hike Fears
07/30/201410:56:51MARKET SNAPSHOT: U.S. Stocks Pare Gains On Rate-hike Fears
07/30/201409:51:21MARKET SNAPSHOT: U.S. Stocks Open Higher After Strong GDP Report
07/30/201409:45:11U.S. Hot Stocks: Hot Stocks to Watch
07/30/201409:12:33MARKET SNAPSHOT: U.S. Stocks: Futures Add To Gains After GDP;...
07/30/201408:16:19MARKET SNAPSHOT: U.S. Markets: Futures Up With Twitter, GDP...
07/25/201406:03:01Bayer and Onyx Say Phase III Trial of Nexavar Breast Cancer Treatment...
07/02/201417:06:33Bind Therapeutics, Amgen End Collaboration on Targeted Cancer...
06/20/201421:35:07Atara Biotherapeutics, Backed by Carlos Slim, Files for IPO
06/09/201418:12:243M Finance Chief Departs for Amgen -- 2nd Update
06/09/201417:08:393M Finance Chief Departs for Amgen -- Update
05/12/201402:54:55AstraZeneca, Amgen Announce Positive Phase III Brodalumab Study
05/09/201418:31:12Amgen, AstraZeneca Announce Positive Results from Brodalumab...
04/22/201419:35:35Correction to Amgen Earnings Story
04/20/201406:17:33MARKET SNAPSHOT: Long View On Stocks Is Best During Weak Earnings...
04/11/201419:36:07Riding the Tech Roller Coaster
03/30/201408:44:49New Drugs to Lower Cholesterol Show Promise: Studies
03/26/201416:30:44Merck, Glaxo Hold Off on Help With Affordable Care Act Copays
03/17/201410:14:16Amgen Says Cholesterol Drug Study Meets Primary Endpoint

Amgen Inc. and other NASDAQ stock quotes are delayed by at least 20 minutes.
All other stock price and quote data is delayed by at least 15 minutes unless otherwise stated. By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad