Amgen (AMGN) rose about 1% after beating earnings and revenue expectations.
The biotech companyÂ posted $1.61 in EPS, 15 cents ahead of expectations. Revenue of $4.05 billion beat expectations for $3.93 billion. Its earnings and revenue guidance was in line with analysts’ expectations. Total product sales rose 8%, with sales of autoimmune drug Enbrel sales rising 7% and cancer therapy Neulasta/Neupogen jumping 9%.
“The pipeline is developing well and the business is in good shape to address the opportunities and challenges ahead,” said CEO Kevin Sharer in a statement.