Advertisement
News
Advertisement

Summary Box: Amgen's 3Q net income falls(2)

Mon, 10/24/2011 - 3:46pm
The Associated Press

MIXED RESULTS: Biotech drugmaker Amgen's third-quarter profit plunged 63 percent to $454 million, on higher costs and charges totalling $950 million. Adjusted income beat expectations, though.

PROBES ENDING: The big charge was $780 million for a planned settlement of multiple whistlelower cases and federal and state investigations of Amgen's marketing and other practices, including alleged kickbacks, dating to 2007.

ENCOURAGING INVESTORS: Amgen raised its 2011 revenue and profit forecasts and increased its share buyback program to a total of $10 billion.

Advertisement

Share this Story

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