THOUSAND OAKS, Calif. (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.
Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.