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Article: Solid Earnings For Amgen As Aranesp Hits $1B For Quarter.
- Article from:
- BIOWORLD Today
- Article date:
- November 3, 2009
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Staff Writer
Amgen Inc. soundly beat estimates for the second quarter, led by a boost in product revenue, including a 26 percent increase in sales of the anemia drug Aranesp.
The Thousand Oaks, Calif.-based company reported total revenue of $3.6 billion for the three months ending June 30, a 14 percent increase over the second quarter of 2005. Net income rose 12 percent to about $1.2 billion, or $1.01 per share. Analysts' predictions had estimated revenues of about $3.5 billion and earnings per share of 94 cents.
The company ended the quarter with nearly $5 billion in cash.
"Clearly, it was a strong and, importantly, a high-quality ...