Amgen beats Street, ups guidance

Amgen Inc. (NASDAQ:AMGN) reported 3Q13 earnings that beat the Street and again increased its full-year EPS and revenue guidance. Adjusted diluted EPS in the quarter was $1.94, above the Street's $1.77 estimate and up from $1.67 in 3Q12. Revenues in the quarter were $4.7 billion, beating the Street's estimate of $4.6 billion and up 10% from $4.3 billion in 3Q12. Amgen said it now expects full-year EPS of $7.35-$7.45 and 2013 revenues of $18.3-$18.5 billion. The company previously expected EPS of $7.30-$7.45 and revenues to be at the upper end of $17.8-$18.2 billion. The Street was expecting full-year EPS of $7.32 on $18.3 billion in revenues.

Amgen said on a conference call to discuss its 3Q13 earnings that Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) withdrew a BLA for Lonquex lipegfilgrastim to prevent chemotherapy-induced neutropenia. The compound is comparable to Amgen's neutropenia drug Neulasta pegfilgrastim. Amgen, which has IP covering pegylated filgrastim through the end of 2015, said it dropped a lawsuit against Teva in light of the BLA withdrawal. ...