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Amgen's Next Big Thing Make Take a Little Longer
Updated from 5:22 PM
Amgen(AMGN Quote) beat first-quarter earnings estimates by a penny Thursday, but warned of slower growth ahead because of approval delays for its new blockbuster anemia drug.
The Thousand Oaks, Calif.-company -- the Big Daddy of biotech -- said first quarter profits rose 15% year over year to $305 million, or 28 cents per share. Revenue totaled $798 million in the quarter, a 14% jump over the year-ago quarter, but below consensus estimates.
Wall Street analysts were expecting net income of 27 cents per share on $939.6 million in revenue, according to Multex.com. ...
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