Please login to the form below

Not currently logged in

Amgen posts decrease in earnings

Amgen's second quarter financial results hit by US healthcare reform fees

US pharmaceutical company Amgen has reported a 3 per cent decrease in net income for the second quarter of 2011 to $1.3bn.

The company reported a 4 per cent increase in sales during the three month period to $3.96bn.

Kevin Sharer, chairman and CEO, said: "Our products recorded a strong 8 per cent growth during the quarter. Our business has momentum and we expect to be at the upper end of our revenue and EPS [earnings per share] guidance."

Amgen said that its R&D expenses increased by 26 per cent in the quarter to $808m, reflecting the costs associated with late stage clinical programmes, it said. Meanwhile its selling, general and administrative expenses increased by 15 per cent in the second quarter to $1.1bn driven by the US Healthcare Reform Federal Exercise Fee of $47m.

1st August 2011


Featured jobs

Subscribe to our email news alerts


Add my company
CAN advertising

Brief us and you’ll soon see we really CAN do it all. We’re different to other agencies. You’ll get expert...

Latest intelligence

A quest for innovative solutions
UCB looks to the future through a PRISM...
Big data, privacy and the rise of genomic testing
Blue Latitude Health speaks to Johan Christiaanse, Marketing Director at BGI, to find out how the medical profession can overcome one of the major barriers to precision medicine – big...
Deal Watch January 2018