Amgen expects 18 per cent increase in international sales

Amgen has said it expects an 18 per cent increase in international sales and revenue growth of 14 per cent by the end of the financial year as it reported its half-yearly results.

The company achieved a small increase of one per cent in earnings-per-share, accounted for by the acquisitions of Immunex, Tularik and Abgenix.

Additionally, the company said it managed to gain certain royalty rights for the sales for Neulasta and Neupogen in the EU.
Amgen also highlighted an EU marketing application for Vectibix, a cancer drug currently undergoing trials as a first-line treatment for metastatic colorectal cancer. Further phase III trials for the drug’s use as a second-line treatment for colorectal cancer and a further study for first-line use are also expected to begin in the next year.

Kevin Sharer, chairman and chief executive officer of Amgen, stated: “I am pleased with our excellent financial performance in both the United States and internationally.

“Execution of our important clinical programs continued at an aggressive pace, and we took meaningful actions to defend our intellectual property.”

He added: “Today we raised our adjusted earnings-per-share guidance for the year despite a significant increase in research and development investment. This reflects our confidence in our ongoing business performance.”

Amgen and Wyeth co-developed Enbrel, the anti-TNF drug used for the treatment of inflammatory diseases like rheumatoid arthritis and ankylosing sponditis. Wyeth markets the drug in countries outside of the US, including in the UK.

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