Amgen Inc. (NASDAQ: AMGN) is the second largest biotech player, and now we have seen its fourth-quarter earnings report. Earnings came in up 30% at $1.82 per share, and revenue was up 13% to $5.01 billion. Thomson Reuters had estimates of $1.68 in earnings per share and $4.82 billion in revenue. Product sales were up 11% in the quarter.
Guidance for all of 2014 was put at $7.90 to $8.20 in earnings per share and $19.2 to $19.6 billion in revenue. Thomson Reuters had estimates of $8.18 in earnings per share and $19.58 billion in revenue.
Amgen now has 10 drug development programs with registration-enabling data expected by 2016. It also claims to have six biosimilars in development and has expanded presence in more than 75 countries.
Neulasta and Neupogen sales combined were up 8% for the quarter, and some select product sales growth was as follows: Enbrel up 3% (driven by price), Aranesp dropped 4% on lower unit demand, Sensipar/Mimpara sales increased 20% based on unit demand and price.
Amgen shares closed up 1.8% at $120.70, against a 52-week range of $39.24 to $84.40. The after-hours reaction had shares down only a few pennies initially.