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Monday, Jul 15, 2024

Amgen’s drug sales drop 8.4%, hurting quarterly profit

Amgen Inc. said first-quarter profit fell 7.4%, missing analyst estimates, as sales declined for its top-selling anemia and arthritis medicines. Net income fell to $1.02 billion, or 98 cents a share, from $1.10 billion, or $1.01, a year earlier, the Thousand Oaks-based pharmaceutical company said. Earnings, excluding certain costs, missed the $1.14 a share average estimate of analysts surveyed by Bloomberg. Revenue dropped 8.4% to $3.31 billion. For the full story click www.here

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