NEW YORK Feb 6 Amgen Inc, the world's
largest biotechnology company, on Thursday raised its 2013
earnings forecast to account for a Puerto Rico excise tax credit
due to federal settlements for prior years.
Amgen, which has a manufacturing facility in Puerto Rico,
said that it now expects adjusted 2013 earnings of $7.05 per
share to $7.35 per share, and that it would record the credit in
the first quarter. The company last month had forecast earnings
per share of $6.85 to $7.15.
The 2013 revenue forecast remains unchanged at $17.8 billion
to $18.2 billion.
Amgen made the announcement in conjunction with a meeting in
New York with analysts and investors at which management was
providing an update of its business strategy, including details
on its pipeline of drugs in development and plans to manufacture
generic versions of biotech drugs, known as biosimilars.
Amgen Chief Executive Robert Bradway said the company plans
to launch six biosimilars in 2017 - four cancer drugs and two
for inflammatory diseases.