October 23, 2012 / 8:31 PM / 5 years ago

Amgen 3rd quarter profit higher, raises 2012 forecast

Oct 23 (Reuters) - Amgen Inc on Tuesday reported higher third-quarter profit in its first full quarter under Chief Executive Robert Bradway and it raised its full-year earnings and revenue forecasts.

The quarterly results were helped by strong sales of it rheumatoid arthritis drug Enbrel and Xgeva, a newer product for cancer that has spread to the bones.

The world’s largest biotechnology company said net profit rose to $1.1 billion, or $1.41 per share, from $454 million, or 50 cents per share, a year ago, when it took a large charge to settle a probe related to sales and marketing practices.

The company now expects 2012 adjusted earnings of $6.50 to $6.60 per share and revenue of $17.2 billion to $17.3 billion. It had previously forecast earnings of $6.20 to $6.35 per share and revenue of $16.9 billion to $17.2 billion. (Reporting by Bill Berkrot; Editing by M.D. Golan)

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