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Home Industry News Amgen says economy affected its Q1 2009 results

Amgen says economy affected its Q1 2009 results

24th April 2009

Amgen’s first quarter 2009 sales were affected by the global economy, it has claimed.

Net income decreased eight per cent from $1,218 million (837 million pounds) for the first three months of 2008 to $1,120 million for the same period this year.

Total revenue was $3,308 million for quarter one of 2009, compared to $3,613 million last year ? which was a fall of eight per cent.

Chairman and chief executive officer of the company Kevin Sharer said the behaviour of patients and physicians had changed due to the challenging financial climate.

However, he remained positive that the future of the firm is strong, adding there are plans to commercialise some drugs.

“Also, we are looking forward to reviewing important data on pipeline products including denosumab in certain oncology indications and Vectibix in colorectal cancer,” Mr Sharer commented.

Between April 18th and 22nd, Amgen presented results from a number of investigative trials at the American Association for Cancer Research.

Dr C Glenn Begley, vice-president of the firm’s global haematology and oncology research division, asserted before the event that it will be an exciting year for the company’s oncology therapeutics pipeline.

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