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Amgen profit ex-items tops Wall Street view; rebounds after 1st qtr
July 30, 2013 / 8:22 PM / 4 years ago

Amgen profit ex-items tops Wall Street view; rebounds after 1st qtr

July 30 (Reuters) - Amgen Inc, which is attempting to buy Onyx Pharmaceuticals Inc to add to its cancer drug offerings, on Tuesday reported higher-than-expected second- quarter profit as sales of many of its drugs rebounded from a disappointing first quarter.

Most of Amgen’s higher profile products had sales that exceeded Wall Street estimates, and the world’s largest biotechnology company raised its full-year earnings forecast.

Amgen posted a net profit of $1.26 billion, or $1.65 per share, compared with a profit of $1.26 billion, $1.61 per share, a year ago

Excluding special items, Amgen earned $1.89 per share. Analysts on average expected $1.74, according to Thomson Reuters I/B/E/S.

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