Amgen Reports Profit Jumps to $49.4 Million
Amgen Inc., reaping the rewards of its two hot-selling drugs, said its third-quarter profit more than tripled from a year earlier on a doubling of revenue.
The Thousand Oaks-based biotechnology concern said net income in the quarter that ended Sept. 30 jumped to $49.4 million from $14.3 million a year earlier, and revenue climbed to $178.6 million from $78.8 million.
Amgen said sales of its first drug, Epogen, rose to $112.2 million in the third quarter from $73 million a year earlier. The drug is used for fighting anemia in patients with kidney disease.
Sales of its other drug, Neupogen, were $59.7 million. Neupogen, introduced early this year, helps fight infections in chemotherapy patients.
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