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Financial Report: Amgen

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Amgen

2Q Revenues: $3.7 billion (+3%)

2Q Earnings: $1 billion (earnings were $14 million in 2Q2006)

YTD Revenues: $7.4 billion (+9%)

YTD Earnings: $2.1 billion (+110%)

Comments: Worldwide sales of Aranesp were down 10% to $949 million, driven by a decline in U.S. demand. Sales of Epogen increased 2% to $624 million in the quarter. Combined worldwide sales of Neulasta and Neupogen increased 4% to $1 billion. Sales of Enbrel were up 14% to $823 million. R&D expenses increased 7% to $777 million in the quarter due to the advancement of Denosumab, Vectibix, and Motesanib Diphosphate, into Phase III trials. YTD and 2Q earnings in 2006 were impacted by acquired in-process R&D of $1.1 billion related to the acquisition of Abgenix.

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