(Adds company comment, details of upcoming trial data, share
price)
By Deena Beasley
Nov 3 (Reuters) - Biotechnology company Amgen Inc
on Thursday said its third-quarter revenue rose 1% as
higher volume growth for its cancer, rheumatology and
cardiovascular products was offset by lower prices and foreign
exchange losses.
Revenue for the quarter totaled $6.7 billion, exceeding Wall
Street estimates of $6.56 billion, as compiled by Refinitiv.
"Our medicines generated 8% volume growth in the quarter
globally, with 11 products achieving record quarterly sales,"
Amgen Chief Executive Robert Bradway said in a statement.
Adjusted earnings per share increased to $4.70 from $4.08 a
year earlier, beating analyst estimates of $4.42.
Net income rose 14% to $2.14 billion.
For the full year, Amgen narrowed its outlook for adjusted
earnings per share to a range of $17.25 to $17.85 on revenue of
$26 billion to $26.3 billion, from its previous forecast of $17
to $18 per share on revenue of $25.5 billion to $26.4 billion.
Amgen shares, which closed nearly 1.2% lower at $265.88 in
regular trading, were back up 1.2% at $269 after hours.
Amgen said it will announce on Monday at the annual American
Heart Association scientific meeting mid-stage trial results for
experimental heart drug olpasiran, as well as an update on
AMG133, a potential obesity treatment.
AMG133, which has garnered increased attention following
strong sales for similar drugs launched recently by Eli Lilly
and Co and Novo Nordisk, is designed to block
a hormone and a protein involved in blood sugar control.
(Reporting By Deena Beasley
Editing by Bill Berkrot)
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