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

WCG is an independent, global agency specialising in healthcare communications. Our value as a company is about being the positive...

Latest intelligence

Is the pharma business model ready for precision medicine?
Precision medicine promises to revolutionise patient outcomes and reduce costs for industry but is pharma ready for it? Blue Latitude Health co-founder Head of Strategy Fred Bassett explores the challenges...
The NHS and ABPI at 70: inching closer to the triple win
The NHS and UK pharma’s ABPI both turn 70 this year. After years of transactional relationships, there’s a will to work more closely - but friction on prices and value...
What pharma marketers can learn from behavioural science
Pharma behavioural science and traditional emotional marketing create a powerful mix of techniques that have impact on real lives....