THOUSAND OAKS, Calif. – Amgen, one of the world’s largest biotechnology companies, saw revenue rise 9.5 percent to $4.3 billion in the three months ended Sept. 30 from $3.9 billion during the same period in 2011.
Profits for Amgen surged 144 percent to $1.1 billion, or $1.41 per diluted share, for the third quarter, compared with $454 million, or 50 cents per diluted share, during the same quarter in 2011.
Amgen noted that its third-quarter 2011 earnings were negatively impacted by a charge for a legal settlement reserve.
“We delivered solid growth in revenues and earnings,” Robert A. Bradway, Amgen’s president and CEO, said in prepared remarks. “Our marketed products are performing well and we continue to make progress with key pipeline projects.”
So far this year, Amgen, which has a production facility in West Greenwich, has seen its profits rise 29.3 percent to $3.6 billion versus a bottom line of $2.7 billion during the first nine months of 2011.
The company’s year-to-date revenue has grown 10.6 percent to $12.8 billion from $11.6 billion during the same period last year.
Estate and Corporate Income Taxes are changing next year, and business owners and executives should know the details. The PBN Summit on November 6th will provide those details and more - including how much Obamacare's Employer Mandate could cost.
PBN's annual Book of Lists has been an essential resource for the local business community for almost 30 years. The Book of Lists features a wealth of company rankings from a variety of fields and industries, including banking, health care, real estate, law, hospitality, education, not-for-profits, technology and many more.