Thousand Oaks biotech firm Amgen Inc. said its profit jumped 7% in the second quarter as sales of several key drugs increased.
The results, released after markets closed Thursday, were better than analysts had expected. The company also increased its estimated revenue and profit for the year.
Amgen said it earned $1.65 billion in the quarter, or $2.15 a share, up from $1.55 billion in the same quarter last year.
"Focused execution with our growth products drove record revenues in the second quarter, and expense discipline further leveraged earnings and our ability to invest in new and forthcoming launches,” said Robert A.