Amgen 4Q profit up 10 percent on Neulasta sales

Mon, 01/24/2011 - 11:45am
The Associated Press

Biotechnology company Amgen Inc. says its profit rose 10 percent in the fourth quarter on better sales of anti-infection drugs and reduced taxes.

The Thousand Oaks, Calif., company says its earned $1.02 billion, or $1.08 per share, from $931 million, or 92 cents per share. Excluding one-time costs, Amgen posted a profit of $1.17 per share. Revenue edged up 1 percent to $3.84 billion from $3.81 billion.

Analysts expected a profit of $1.10 per share and $3.81 billion in revenue, according to FactSet.

Amgen says sales of its drugs Neulasta and Neupogen, which are used to prevent infections in chemotherapy patients, rose 3 percent to $1.24 billion. Tax credits boosted Amgen's quarterly results.

However the company's 2011 profit forecast fell short of Wall Street's expectations.


Share this Story

You may login with either your assigned username or your e-mail address.
The password field is case sensitive.