Amgen sees flat 2nd-qtr 2010 earnings as Aranesp sales slump

Global biotechnology leader Amgen reported adjusted earnings per share of $1.38 for the second quarter of 2010, an increase of 7%. However, adjusted net income increased just 1% to $1.33 billion. Total revenue advanced 2% to $3.8 billion for the quarter. The results were, nevertheless, better than expected and the company's stock rose 2.3% to $54.53 by close on Friday.

'We delivered a solid quarter,' said Kevin Sharer, chairman and chief executive, adding. 'We are in the process of launching Prolia (denosumab) worldwide and look forward to working with global regulatory authorities to gain approval for denosumab in patients with advanced cancer.'

As a result of the weaker euro, the company now expects full-year revenues to be slightly below $15.1 billion versus previous guidance towards the lower end of the range of $15.1 billion to $15.5 billion.