Amgen trounces Street views with 39 pct. jump in 4Q profit

THOUSAND OAKS, Calif. (AP) — Amgen's fourth-quarter profit soared 39 percent, as the biologic drugmaker posted higher revenue for nearly all its medicines and trounced analyst expectations for the fifth straight quarter. The world's biggest biotech drugmaker benefited from reduced operating...

 
              FILE - This Nov. 9, 2014, file photo, shows signage outside the Amgen headquarters in Thousand Oaks, Calif. Amgen Inc. reports financial results on Thursday, Jan. 28, 2016. (AP Photo/Mark J. Terrill, File)

THOUSAND OAKS, Calif. (AP) — Amgen's fourth-quarter profit soared 39 percent, as the biologic drugmaker posted higher revenue for nearly all its medicines and trounced analyst expectations for the fifth straight quarter.

The world's biggest biotech drugmaker benefited from reduced operating expenses and restructuring charges, compared with 2014.

The Thousand Oaks, California-based company says net income was $1.8 billion, or $2.37 per share, up from $1.29 billion, or $1.68 per share.

Adjusted net income was $1.99 billion, or $2.61 per share. Analysts surveyed by FactSet expect $2.29.

Revenue grew 4 percent to $5.54 billion, led by Enbrel for immune disorders, Neulasta and Aranesp for anemia, and osteoporosis injection Prolia.

Amgen Inc. hiked its 2016 forecasts slightly, to earnings per share of $10.60 to $11 and revenue of $22 billion to $22.5 billion.

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