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
05/27/201516:30:00Amgen To Present At The Jefferies 2015 Global Healthcare Conference
05/27/201516:00:00Amgen To Advance Understanding Of The Treatment Of Blood Cancers...
05/26/201516:14:00Pivotal Study Results Published in Journal of Clinical Oncology...
05/26/201502:44:47SUBSCRIBERS: AstraZeneca Terminates Pact with Amgen Already Reported
05/25/201509:50:13The Best Business Model in Biotech
05/25/201509:45:09The Best Business Model in Biotech
05/25/201509:40:05The Best Business Model in Biotech
05/25/201509:35:04The Best Business Model in Biotech
05/25/201509:30:09The Best Business Model in Biotech
05/25/201509:25:06The Best Business Model in Biotech
05/25/201509:20:07The Best Business Model in Biotech
05/25/201509:15:08The Best Business Model in Biotech
05/25/201509:10:06The Best Business Model in Biotech
05/25/201509:05:04The Best Business Model in Biotech
05/25/201509:00:08The Best Business Model in Biotech
05/25/201508:55:05The Best Business Model in Biotech
05/25/201508:50:08The Best Business Model in Biotech
05/25/201508:45:08The Best Business Model in Biotech
05/25/201508:40:06The Best Business Model in Biotech
05/25/201508:35:06The Best Business Model in Biotech

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