BioCentury
ARTICLE | Financial News

Amgen beats Street

July 31, 2013 12:17 AM UTC

Amgen Inc. (NASDAQ:AMGN) increased its full-year EPS guidance after reporting 2Q13 adjusted diluted EPS of $1.89, beating the Street's $1.74 estimate by $0.15 and up from $1.83 in 2Q12. Second quarter revenues grew 5% to $4.7 billion, above the Street's estimate of $4.5 billion but including a one-time increase of $185 million due to Medicaid rebates. Amgen said it expects 2013 revenues to be at the upper end of its $17.8-$18.2 billion guidance and raised its adjusted EPS guidance to $7.30-$7.45 from $7.05-$7.35. The Street was expecting EPS of $7.29 on revenues of $18 billion.

Second quarter sales of Xgeva denosumab rose 39% to $249 million, while 2Q13 sales of osteoporosis drug Prolia denosumab were up 57% to $188 million. Xgeva is approved in the U.S. and EU to prevent skeletal-related events (SREs) in adults with bone metastases from solid tumors. Second quarter sales of anemia drugs Epogen epoetin alfa and Aranesp darbepoetin alfa fell slightly compared to the prior year's quarter. Epogen sales slipped 4% to $502 million in 2Q13, while Aranesp sales were off 2% to $524 million. ...