Amgen Delivers Strong Fourth Quarter

Amgen Inc. announced fourth quarter results that beat Wall Street expectations on Tuesday. The Thousand Oaks biotech reported adjusted net income of $2.2 billion ($3.42 a share) for the quarter and $8.4 billion ($12.69) for the full year. Revenue totaled $6.2 billion for the quarter. Analysts on average expected fourth quarter net income of $3.28 a share on revenue of $5.9 billion, according to Thomson Reuters. In terms of bestselling drugs, Repatha sales increased 62 percent for the fourth quarter and 72 percent for the full year. Blincyto sales increased 37 percent for the fourth quarter. On the downside, sales of legacy drug Neupogen decreased 40 percent in the fourth quarter. The company announced results after market close. Shares of Amgen (AMGN) closed Tuesday up 16 cents, or a fraction of a percent, to $192.11 on the Nasdaq.