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Financial Report: Amgen 2Q

Product sales in the quarter were down 2% to $3.6 billion.

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Amgen 2Q

2Q Revenue: $3.7 billion (-1%)

2Q Earnings: $1.3 billion (+40%)

YTD Revenues: $7.0 billion (-5%)

YTD Earnings: $2.3 billion (+14%)

Comments: Product sales in the quarter were down 2% to $3.6 billion. Sales in the U.S. were flat at $2.8 billion, while international sales were down 6% to $801 million. The decline reflects the unfavorable impact of foreign exchange, which totaled approximately $103 million. Worldwide sales of Aranesp were down 16% to $693 million. Epogen sales were $638 million (+3%). Combined sales of Neulasta and Neupogen were $1.2 billion (-4%). Sales of Enbrel were up 7% to $899 million. Sensipar sales were up 11% to $167 million. Earnings in the quarter were positively impacted by a $115 million income tax benefit. Earnings for 2Q08 were negatively impacted by $263 million in losses for settlements of certain commercial legal proceedings.

View Amgen in Contract Pharma’s Top Companies Report:
http://contractpharma.com/articles/2009/07/amgen

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