Amgen’s 2nd-qtr beats forecasts; hikes outlook

US biotech giant Amgen (Nasdaq: AMGN) pleased investors yesterday, when it post second-quarter 2015 financials, with revenues rising 3.7% to $5.37 billion, exceeding analysts’ consensus forecasts of $5.32 billion. Amgen’s shares edged up 2.1% to $175.25 in after-hours trading.

Amgen’s net income rose 7% to $1.65 billion, or $2.15 per share. Excluding one-time charges, adjusted income was up 8% to $1.98 billion, or $2.57 per share, $0.14 more than analysts were expecting.

"Focused execution with our growth products drove record revenues in the second quarter, and expense discipline further leveraged earnings and our ability to invest in new and forthcoming launches," said Robert Bradway, chairman and chief executive, adding: "Our pipeline continues to deliver, with Repatha approval in the European Union and Kyprolis approval for relapsed multiple myeloma in the United States. We are on track to deliver on our long-term objectives for patients and shareholders."