Amgen’s (AMGN) Modest Quarter

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Amgen (AMGN) adjusted earnings per share of $1.12 for the first quarter of 2008, an increase of 4 % compared to $1.08 for the first quarter of 2007. Adjusted net income decreased 4 % to $1.218 billion in the first quarter of 2008 compared to $1.270 billion in the first quarter of 2007.

Amgen’s revenue decreased 2% during the first quarter of 2008 to $3,613 million versus $3,687 million in the first quarter of 2007.

Worldwide sales of Aranesp decreased 25% to $761 million in the first quarter of 2008. Sales of EPOGEN decreased 11% to $554 million.

Sales of Enbrel increased 30% in the first quarter to $951 million. Worldwide sales of Sensipar increased 27 % to $133 million.

The company guided for GAAP EPS for the year to be in a range of $3.66 to $4.01.

Douglas A. McIntyre