Amgen presented it’s 3rd quarter results. Which in general terms can be qualified as acceptable in the world crisis scenario. As well the Share prize fell a 6% to 56.15 after due thegovernment didn’t allow a new drug until more test are done.
The BioTechnological company reported that the total revenue decreased 2% from the third quarter of 2008. 3812M against 3875M due the foreignexchange. As well Amgen adopted the a new accounting method that may vary some revenues asummtion. Net Income increased 24% to 1386M from 1121M in 2008. Also that figured must be higher if It’staking into account that the manufacturing process changed with a total cost of 84M in Inventory.
Product sales decreased in 1% to 3736M to 3784M. The United States remained similar to last year 2918Mto 2929M where International sales decreased to 818 against 855 meaning a 3.8%.
Sales of EPOGEN increased 4.9% to 663M from 634M in the 3rd quarter of 2009 the demand increasing it’s due the growtholder population and cancer diagnoses that needs EPO to rise cell bloods. Sale of ENEBREL increased 3% to 924M to 893M. This drug it’s the more recurrent for rheumatology and dermatology cases in theworld. SENSIPAR sales grew 2% to 165M to 161M and VECTIBIX Increased from 58M to 41M. Therefore in general terms the main products are being profitable. The problem it’s that ARANESP decreased a 20%to 685M to 845M in the International scenario where in the US was a 27% from 333M in 2009 to 458M in 2008. That was because a decrease in the demand due some change in the cancer criteriainvestigation and a lost of market share against competitors.
The Cost of sale decreased 8% from 542M to 590M due a lower production expenses and less excess of inventory write-offs. Reserarch andDevelopment expenses decreased a 12% explained because the reduction of clinical test. Administrative department expenses increased a 3% because the desk work for the approval of a new drug plus a increase...