Amgen’s anemia drugs take continuing hit
Executive Summary
Higher Enbrel sales and lower operating expenses gave Amgen a first-quarter rise in net income to $1.14 billion, or $1.04 per share, from $1.11 billion, or 94 cents per share, during the same period in 2007, despite flagging sales of its troubled anemia franchise. Aranesp sold $761 million in the quarter, in line with consensus expectation of $760 million, while Epogen, at $554 million, fell below the consensus number of $604 million. Neupogen and its longer acting version, Neulasta, for neutropenia sold about $1 billion worldwide. Enbrel for rheumatoid arthritis and psoriasis sold $951 million. The recent approval of Abbott'sHumira for psoriasis could help Enbrel by growing the market, the company says
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