Amgen beats Street, ups guidance

AMGN reported third quarter adjusted EPS of $0.64, beating the Street's $0.62 estimate by $0.02 and up 21% from EPS of $0.53 in the same period last year. Product sales were $2.6 billion in the third quarter, up 23% from $2.1 billion in the third quarter of 2003.

Combined third quarter sales of anemia therapies Epogen and Aranesp were up 21% quarter over quarter to $1.3 billion from $1.1 billion. Sales of Aranesp, a second-generation EPO product, were $608 million in the third quarter, up 39% from the same period in 2003. Third quarter sales of neutropenia products Neupogen and Neulasta were $752 million, up 14% from $657 million in the same period last year. Sales of Enbrel were $496 million, up 45% from third quarter 2003 sales of $342 million. AMGN gained Enbrel, which is marketed for rheumatoid and psoriatic arthritis and ankylosing spondylitis, from its 2002 purchase of Immunex. Wyeth (WYE) has exclusive rights to Enbrel outside North America. ...