(Reuters) - Amgen Inc ( AMGN.O ) reported higher-than-expected third quarter profit on Wednesday as lower research and other costs and improved operating margins helped offset sales declines in some of its biggest established products.
FILE PHOTO - An Amgen sign is seen at the company's office in South San Francisco, California, U.S. on October 21, 2013.
The world’s largest biotechnology company also raised its full-year adjusted earnings forecast to $12.50 to $12.70 per share from its earlier view of $12.15 to $12.65, despite taking a financial hit to its Puerto Rico operations from Hurricane Maria, which devastated the island last month.
The company said its Puerto Rico drug substance manufacturing and packaging plants are now fully operational, with formulation/filling and small molecule commercial production to resume by the end of October.
However research and development spending, cost of sales and selling, general and administrative expenses were all lower in the quarter.
- What Should You Know About Amgen Inc's (AMGN) Future?Simply Wall St
- Amgen INC (AMGN) Holder Comerica Bank Trimmed Its Position by $5.97 Million as ...Weekly Register
- Taking a Look at the Data Behind Amgen Inc. (AMGN)StockNewsJournal
- Amgen (AMGN) Tops Q3 EPS by 23cStreetInsider.com
- Amgen Announces Quarterly DividendGuruFocus.com
- Amgen beats Street 3Q forecastsFinancial Post
- Dowling & Yahnke Lowered By $870664 Its Amgen (AMGN) Stake; Shutterstock (SSTK ...FlintDaily.com
- Amgen Inc. (AMGN) Stock Rating Lowered by Zacks Investment ResearchTrueBlueTribune
- Qcm Cayman LTD Trimmed By $3.17 Million Its Amgen (AMGN) Stake; 5 Analysts Are ...HuronReport