Health and Healthcare
Amgen Nails Earnings, Guidance a Different Story
Published:
Last Updated:
Amgen Inc. (NASDAQ: AMGN) is the second largest biotech player, and now we have seen its fourth-quarter earnings report. Earnings came in up 30% at $1.82 per share, and revenue was up 13% to $5.01 billion. Thomson Reuters had estimates of $1.68 in earnings per share and $4.82 billion in revenue. Product sales were up 11% in the quarter.
Guidance for all of 2014 was put at $7.90 to $8.20 in earnings per share and $19.2 to $19.6 billion in revenue. Thomson Reuters had estimates of $8.18 in earnings per share and $19.58 billion in revenue.
Amgen now has 10 drug development programs with registration-enabling data expected by 2016. It also claims to have six biosimilars in development and has expanded presence in more than 75 countries.
Neulasta and Neupogen sales combined were up 8% for the quarter, and some select product sales growth was as follows: Enbrel up 3% (driven by price), Aranesp dropped 4% on lower unit demand, Sensipar/Mimpara sales increased 20% based on unit demand and price.
Amgen shares closed up 1.8% at $120.70, against a 52-week range of $39.24 to $84.40. The after-hours reaction had shares down only a few pennies initially.
Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Get started right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.