Amgen Tops Street 3rd-quarter Profit And Revenue Forecasts

(AP) — Amgen Inc. on Thursday reported third-quarter net income of $2.02 billion. Sales of the company's top-seller, Enbrel, were flat at $1.45 billion as higher net selling price was offset by competition and unfavorable changes in inventory levels. During the quarter regulators approved the first near-copy, or biosimilar, of Enbrel called Erelzi, developed by Swiss drug giant Novartis. The anti-inflammatory drug is approved for the same indications as Enbrel, including rheumatoid arthritis, psoriasis and other immune system disorders.

Topics:  ap    amgen inc   sales   erelzi   swiss   novartis   enbrel   billion   net   drug   

 

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