BIOTECHNOLOGY

Amgen sales rise to $4.2B in 3Q

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AMGEN INC. saw profits surge 144 percent and revenue rise 9.5 percent during the third quarter of 2012.
Posted 10/24/12

THOUSAND OAKS, Calif. – Amgen, one of the world’s largest biotechnology companies, saw revenue rise 9.5 percent to $4.3 billion in the three months ended Sept. 30 from $3.9 billion during the same period in 2011.

Profits for Amgen surged 144 percent to $1.1 billion, or $1.41 per diluted share, for the third quarter, compared with $454 million, or 50 cents per diluted share, during the same quarter in 2011.

Amgen noted that its third-quarter 2011 earnings were negatively impacted by a charge for a legal settlement reserve.

“We delivered solid growth in revenues and earnings,” Robert A. Bradway, Amgen’s president and CEO, said in prepared remarks. “Our marketed products are performing well and we continue to make progress with key pipeline projects.”

So far this year, Amgen, which has a production facility in West Greenwich, has seen its profits rise 29.3 percent to $3.6 billion versus a bottom line of $2.7 billion during the first nine months of 2011.

The company’s year-to-date revenue has grown 10.6 percent to $12.8 billion from $11.6 billion during the same period last year.

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