AMGEN PROFITS AIDED BY ITS ANEMIA DRUG.Byline: Evan Pondel Staff Writer THOUSAND OAKS Thousand Oaks, residential city (1990 pop. 104,352), Ventura co., S Calif., in a farm area; inc. 1964. Avocados, citrus, vegetables, strawberries, and nursery products are grown. - Biotechnology giant Amgen Inc. posted a third-quarter profit Tuesday, bolstered in part by strong sales of anemia drug Aranesp. The company reported net income of $612 million, or 46 cents a share, compared with a loss of $2.6 billion, or $2.10 a share, in the same period a year ago. Total revenue increased 47 percent to $2.2 billion in the third quarter 2003, versus the same period a year ago. ``This quarter we've seen solid performance across all of our marketed products, highlighted by the continuing success of Aranesp,'' Kevin Sharer, chairman and chief executive officer, said in a statement. Worldwide, Aranesp sales in the third quarter were $438 million versus $114 million in the third quarter of last year. The Thousand Oaks-based company said sales were primarily driven by an increase in demand. The company now expects combined sales of Epogen and newer generation Aranesp to be from $3.8 to $4 billion in 2003 compared with the previous range of $3.7 and $3.9 billion. Sharer said Johnson & Johnson continues to pose the most competition for Aranesp. Enbrel, Amgen's leading anti-inflammation drug, posted third-quarter sales of $342 million, a 116 percent increase. Amgen said Enbrel sales in the third quarter were driven by new patients in both rheumatology rheumatology /rheu·ma·tol·o·gy/ (-tol´ah-je) the branch of medicine dealing with rheumatic disorders, their causes, pathology, diagnosis, treatment, etc. rheu·ma·tol·o·gy n. and dermatology dermatology (dûrmətŏl`əjē), branch of medicine concerned with diagnosis and treatment of diseases and disorders of the skin. . ``Amgen has entered a golden period. Sales topped our expectations, and we're seeing a clear indication that the company is beefing up its brain trust,'' said Jennifer Chao, analyst with RBC Capital Markets RBC Capital Markets is the corporate and investment banking division of Royal Bank of Canada ("RBC"). Broker dealers Depending on the jurisdiction, the division uses different broker dealer subsidiaries of RBC:
New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of . Amgen recently named a new vice president to head a neuroscience neu·ro·sci·ence n. Any of the sciences, such as neuroanatomy and neurobiology, that deal with the nervous system. neuroscience the embryology, anatomy, physiology, biochemistry and pharmacology of the nervous system. department. The position's primary function is to oversee progress in the development of a treatment for Parkinson's disease Parkinson's disease or Parkinsonism, degenerative brain disorder first described by the English surgeon James Parkinson in 1817. When there is no known cause, the disease usually appears after age 40 and is referred to as Parkinson's disease. . Amgen shares rose $1.73, or 2.8 percent, to close at $63.65 Tuesday on the Nasdaq market. Evan Pondel, (818) 713-3662 evan.pondel(at)dailynews.com |
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