Amgen reports second-quarter financials

Pharmaceutical Company Financials

Amgen has published its financial results for the second quarter of the 2008 fiscal year, with the company reporting a one per cent rise in total revenues on the same period last year to $3,764 million (1,904 million pounds).

Total product sales for the period rose by two per cent to $3,692, with sales of Aranesp (darbepoetin alfa) and Vectibix decreasing and sales of Epogen (epoetin alfa), Neulasta (pegfilgrastim), Neupogen (filgrastim), Enbrel (etanercept) and Sensipar (cinacalcet HCl) showing rises.

Adjusted net income excluding certain expenses including stock option expense dropped by two per cent on the comparable quarter last year to $1,235.

Reported adjusted earnings per share increased by two per cent in the quarter, up to $1.14.

Kevin Sharer, chairman and chief executive officer of the company, said: "Our business showed good stability through the first half of the year, giving us confidence to increase our previously issued guidance on a full year basis."

He added the company expects a number of important events in the second-half the year, including the launch of Nplate.

Earlier this week, Amgen announced the publication of positive phase III clinical trial results for denosumab as a treatment for patients with postmenopausal osteoporosis.

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