Strong Enbrel Sales Help Immunex Match Estimates

Updated from 5:26 p.m. EDT

Biopharmaceutical firm Immunex (IMNX Quote) matched Wall Street estimates for the third quarter, posting earnings of 7 cents per share on strong sales of its rheumatoid arthritis drug, Enbrel.

Net income for the third quarter rose 26% to $39.7 million, or 7 cents per share, compared to $31.5 million, or 6 cents per share, in the third quarter last year.

Enbrel sales in the quarter totaled $198.1 million, up 15% compared to the same period last year. That figure was on the higher end of company guidance and within the range expected by Wall Street analysts. ...