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news.Amgen, a biotechnology company that discovers, develops, manufactures and delivers human therapeutics, has reported total revenues of $3.6bn for the first quarter ended March 31, 2010, an increase of 9%, compared to $3.3bn for the comparable period in 2009.
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Amgen has posted a net income of $1.16bn for the first quarter 2010, or $1.18 per diluted share, compared to $1.01bn, or $0.98 per diluted share, for the prior year period. Operating income was $1.48bn, compared to $1.32bn for the year ago period.
Amgen expects revenues and adjusted EPS for 2010 to be towards the lower end of the current guidance ranges of $15.1bn to $15.5bn and $5.05 to $5.25, respectively, including an anticipated impact of $200m to $250m due to US Health Care Reform. Also the 2010 adjusted tax rate to be in the range of 20% to 21% and capital expenditures to be approximately $600m.
Kevin Sharer, chairman and CEO of Amgen, said: “We are off to a good start in 2010 with solid first-quarter results. We are optimistic about Prolia in the US and EU and will take appropriate steps to manage the impact of the new US health care reform law.”