Anemia Drugs Drive Amgen

Amgen(AMGN Quote) Thursday released first-quarter earnings that were a big jump over the same period last year and a small step above Wall Street's consensus.

The Thousand Oaks, Calif.-based biotechnology company earned $752.3 million, or 57 cents a share, on revenue of $2.34 billion for the three months ended March 31. Analysts polled by Thomson First Call projected earnings of $741 million, or 56 cents a share, on revenue of $2.35 billion.

For the same period last year, Amgen earned $557.9 million, or 42 cents a share, on revenue of $1.76 billion. That means sales jumped 33% and net earnings climbed 35%. ...