Amgen posts 39 per cent jump in 4Q profit

Biologic drugmaker Amgen has trounced Wall Street's expectations with a 39 per cent jump in 4Q profit, posting a net income of $US1.8 billion.

Amgen's fourth-quarter profit has soared 39 per cent, 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 company says net income was $US1.8 billion ($A2.54 billion), or $US2.37 per share, up from $US1.29 billion, or $US1.68 per share.

Adjusted net income was $US1.99 billion, or $US2.61 per share. Analysts surveyed by FactSet expected $US2.29.

Revenue grew 3 per cent to $US5.54 billion, led by Enbrel for immune disorders, Neulasta and Aranesp for anaemia, and osteoporosis injection Prolia.

Amgen hiked its 2016 forecasts slightly, to earnings per share of $US10.60 to $US11 and revenue of $US22 billion to $US22.5 billion.


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Source: AAP



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