expects earnings and revenue to accelerate for 2001 through 2005, driven by its anemia treatment Aranesp, which is under regulatory review, and other new products.
The biotechnology company said it expects 2001 product sales to grow in the mid to high teens and earnings per share to grow in the mid teens, excluding items. Eight analysts polled by
First Call/Thomson Financial
expect full-year revenue of $4.22 billion in 2001, compared with $3.66 billion in 2000. Analysts expect the company to earn $1.26 a share in 2001.
The company also forecast sales of $8 billion to $9 billion by 2005.
In addition, Amgen plans to introduce five or more new products by 2005 that would enable the company to participate in new markets with an estimated value of $13 billion. The company also expects the worldwide anemia treatment market, currently estimated at $5 billion, to double over the next five years.
Shares of Amgen were recently up $2.69, or 4.4%, to $64.50 in