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Amgen Reports Slip in Earnings

January 25, 2001|Reuters

Biotechnology giant Amgen Inc. on Wednesday reported lower fourth-quarter net income amid slower sales of its immunity-boosting drug Neupogen, just missing analyst forecasts.

Amgen, based in Thousand Oaks, said fourth-quarter income, excluding charges, fell to $211 million, or 19 cents a diluted share, including one-time charges, compared with year-earlier totals of $282 million, or 26 cents.

After excluding acquisition-related and other charges, Amgen said it earned 24 cents a share in the quarter, compared with analysts' consensus estimate of 25 cents, as compiled by First Call/Thomson Financial. Amgen noted that its results for the fourth quarter include a licensing expense of $18 million, or 1 cent a share, which it did not include in its previous guidance to analysts.

Amgen's revenue rose to 2.6% to $951.4 million in the fourth quarter.

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