Amgen profit tops Street view, boosts full-year forecast

(Reuters) - Amgen Inc on Thursday reported higher-than-expected second quarter profit and revenue, helped by strong sales of its Enbrel rheumatoid arthritis drug and cost cutting, and the company raised its full-year forecasts.

The world's largest biotechnology company said net profit rose to $1.65 billion, or $2.15 per share, from $1.55 billion, or $2.01, a year ago.

Excluding special items, Amgen earned $2.57 per share. Analysts on average expected $2.43 per share, according to Thomson Reuters I/B/E/S.

Amgen now expects 2015 adjusted earnings of $9.55 to $9.80 per share, up from its prior view of $9.35 and $9.65. It also boosted its full-year revenue expectations to between $21.1 billion and $21.4 billion, from $20.9 billion to $21.3 billion.

 

(Reporting by Bill Berkrot; Editing by Chizu Nomiyama)