Shares of Amgen (AMGN) have edged higher in after-hours trading after the biotech giant beat the Street’s sales and earnings forecasts.
Reuters Amgen reported a profit of $2.30 a share, not including items, on sales of $5.03 billion. That beat analyst forecasts for earnings of $2.11 a share on sales of $4.96 billion.
In Amgen’s press release, CEO Robert Bradway offered his take on the results:
Our 22 percent adjusted operating income growth reflects strong performance across our business in the third quarter. With regulatory submissions for four new products during the quarter, we are at the beginning of an exciting new product cycle. We look forward to describing progress in our long-term growth strategy and opportunities to build additional shareholder value during our Business Review meeting tomorrow.
ISI Group’s Mark Schoenebaum has his questions ready. Among them:
1. What drove increase in Kyprolis – is this trend sustainable? What are market shares now vs Pomalyst?
2. Why the big inventory change in Enbrel?
3. Slides say you realized just 1% net price on Enbrel y/y . . . is that how we should model net price impact?…
6. Why was R&D so light this quarter?…
8. You realized 7% price for Epogen y/y – how is that possible and is it sustainable?
Shares of Amgen have gained 0.5% to $149 at 4:56 p.m. in after-hours trading.
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