Amgen Manages to Tread Water for Another Quarter
Amgen (NASDAQ: AMGN) recently reported second-quarter results that blew past consensus estimates on the top and bottom lines. The company's mature product line is still losing ground thanks to losses of exclusivity, but that didn't stop recent share buybacks from raising earnings by a few percentage points.
Data source: Amgen Inc.
If there were awards for growing your bottom line after your best-selling brands lose exclusivity, Amgen's trophy case would be full of them. Sliding sales of Neulasta, Neupogen, and Sensipar pulled total revenue down by a combined $601 million, but the company still raised earnings per share by repurchasing heaps of those shares over the past year.
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