Amgen beats the consensus and buys ChemoCentryx

Photo credit © Reuters

( — Amgen , the American biotechnology giant, announced last night accounts that exceeded market expectations for its second fiscal quarter. Adjusted earnings per share thus represented $4.65, compared to a consensus of $4.4 and a level of $4.38 a year earlier. Revenue totaled $6.59 billion in the June quarter, beating consensus about 1% from $6.53 billion a year earlier. Amgen Inc. has also agreed to buy ChemoCentryx, a biopharmaceutical company specializing in oral therapies to treat autoimmune diseases, inflammatory disorders and cancer, for $3.7 billion in cash. The Californian Amgen offers 52 dollars per share for ChemoCentryx, whose title ignited yesterday by 109% on Wall Street.

For the year, Amgen now expects revenue of $25.5 billion to $26.4 billion. The company also maintained its outlook for adjusted earnings ranging from $17 to $18 per share. “We are focused on achieving our long-term goals by serving an ever-increasing number of patients around the world with our medicines,” said Chief Executive Robert Bradway.


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