An excellent fourth quarter for Amgen, shares are up again

US-based biotech Amgen announced yesterday after stock markets closed its Q4 2016 results, together with the outlook for 2017. Sales in the fourth quarter totaled approximately $5.97bn, which represents a 7.7% growth over Q4 2015. EPS increased as well, from $2.61 to $2.89 and income was $1.94bn (vs $1.8bn). The group’s performance, on the whole, was better than analysts expected, driven primarily by Enbrel, which generated $1.64bn (+14%) and remains the best-selling drug in Amgen’s portfolio. Also Prolia delivered good performance, with a sales volume increasing by 22% ($463m). In addition, Amgen’s management stated it expects sales to be between $22.3bn and $23.1bn and EBIT between $11.8 and $12.6bn in 2017. Amgen’s shares rose by over 3% in post-market trading.
(Source Amgen)