Biotech Earnings Review: Celgene, Biogen

Biogen also raised its full year guidance for adjusted profit of $3.25 to $3.45 a share, up from prior guidance of $3.20 to $3.35 a share. The company also predicts total revenue growth of roughly 20% of the prior year, which translates to $3.8 billion, compared to prior guidance of 15%-20% growth, or between $3.6 billion and $3.8 billion.

For more on Biogen, check out these recent headlines from TheStreet.com:

• Biogen Beats Profit Expectations
• Biogen, Genentech's Rituxan Fails New Study.

Amgen (AMGN - Cramer's Take - Stockpickr): April 24

Its anemia-drug franchise still in decline, Amgen posted a mixed quarter with declining top and bottom lines but an adjusted per-share profit that beat expectations.

Amgen said adjusted net income fell 4% to roughly $1.2 billion. But on a per-share basis, the company reported adjusted profit of $1.12 a share, compared to $1.08 a share in the year-ago quarter. The company beat the Street's $1.05-a-share profit target, but revenue decreased 2% to $3.613 billion, relatively in line with the $3.624 billion consensus.

Roughly in line with estimates, Aranesp sales fell 25% to $761 million, including a 4% benefit from foreign exchange. But Epogen revenue fell 11% to $554 million, falling short of the Street's $604 million expectation. Amgen said sales were affected by dose reductions, revised demand estimates and unfavorable inventory changes.

Combined sales of Neulasta and Neupogen increased 7% to $1.08 billion, shy of the $1.1 billion Wall Street estimate. And Sales of Enbrel increased 30% to $951 million, much higher than the $855 million consensus. (However, the company said the increase included $120 million in stocking.)