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Financial Report: Amgen

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Amgen

4Q Revenues: $3.8 billion (+17%)

4Q Earnings: $833 million (+1%)

FY Revenues: $14.3 billion (+15%)

FY Earnings: $3 billion (-20%)

Comments: Revenue growth was driven by Aranesp, with sales up 27% to $1.1 billion in the quarter. For the year, Aranesp sales were $4.1 billion, up 26%. Epogen sales increased 6% to $661 million in the quarter and sales for the year were $2.5 billion, up 2%. Combined worldwide sales of Neulasta and Neupogen, were up 10% to $1 billion in the quarter. In the quarter, Vectibix was launched in the U.S. and sales for the quarter were $39 million. R&D expenses increased to $1 billion in the quarter, up 52% and for the year, were $3.2 billion, up 39%. Results for the quarter and FY2006 were negatively impacted by $130 million and $1.2 billion, respectively, of acquired in-process R&D write-offs associated with the acquisitions of Avidia and Abgenix.

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