ARTICLE | Financial News

Amgen beats Street

October 26, 2010 12:38 AM UTC

Amgen Inc. (NASDAQ:AMGN) reported 3Q10 adjusted diluted EPS of $1.36, beating by $0.09 the Street's estimate of $1.27, but down 9% from $1.49 in 3Q09. Third quarter revenues were $3.8 billion, unchanged from the prior year's quarter. Amgen reaffirmed 2010 revenue and adjusted EPS guidance at slightly below $15.1 billion and towards the lower end of $5.05-$5.25.

Third quarter sales of Aranesp for anemia were $623 million, down 9% from $685 million in 3Q09. Amgen said the decline in Aranesp sales was mostly due to a low double-digit percentage point drop in unit demand reflecting an overall decline in the segment. First-generation EPO drug Epogen had 3Q10 sales of $653 million, down 2% from $663 million in 3Q09. Sales of neutropenia products Neupogen and Neulasta were $1.3 billion, up 4% from 3Q09. ...