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Last updated: July 30. 2013 4:45PM - 589 Views
Associated Press



FILE - This March 1, 2005 file photo shows one of many buildings at Amgen's wooded, sprawling headquarters complex in Thousand Oaks, Calif., Amgen Inc. releases its quarterly earnings Tuesday, July 30, 2013. (AP Photo/Reed Saxon, File)
FILE - This March 1, 2005 file photo shows one of many buildings at Amgen's wooded, sprawling headquarters complex in Thousand Oaks, Calif., Amgen Inc. releases its quarterly earnings Tuesday, July 30, 2013. (AP Photo/Reed Saxon, File)
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(AP) Biotech drugmaker Amgen Inc. says its second-quarter profit dipped 1 percent as higher spending on research, production and other items offset rising sales.


The maker of osteoporosis drug Prolia and Enbrel for rheumatoid arthritis and skin disorders says second-quarter net income was $1.26 billion, or $1.65 per share, down from $1.27 billion, or $1.61 per share, a year earlier.


Excluding one-time items, the world's biggest biotech company says adjusted net income was $1.44 billion, or $1.89 per share, well above the $1.74 analysts were expecting.


Thousand Oaks, Calif.-based Amgen say revenue rose 5 percent to $4.68 billion. Analysts surveyed by FactSet expected $4.49 billion.


Amgen raised its 2013 profit forecast to $7.30 to $7.45 per share, from the $7.05 to $7.35 per share it predicted in April.


Associated Press
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