Amgen Posts Promising FY Outlook After Narrower Profit In Q3

The California-based healthcare company, Amgen Inc. (AMGN), provided full-year guidance after the company reported a narrower profit in the third quarter. The company projection for earnings beats Street forecast for the full year.

The company forecast for net income comes in the range of $9.55 and $10.21 for the period. On an adjusted basis, the earnings are expected to be in the range of $16.50-$17.10 per share. On average, 24 analysts polled by Thomson Reuters expect the earnings to be $16.43 per share.

Amgen sees revenue between $25.80 billion and $26.20 billion for the full year. Street forecast for revenue is at $26.01 billion.

Robert Bradway, chairman, and the chief executive officer said, " Our newest product, LUMAKRASĀ®, a first-in-class lung cancer treatment, is off to a strong start and our robust pipeline of potential new medicines across all stages of development sets us up well to drive growth over the long term. We achieved solid growth in the quarter as our medicines reached an increasing number of patients around the world."

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