Amgen 2010 forecast in line with Street view

 @ibtimes
on January 25 2010 6:32 PM

Amgen Inc on Monday issued a 2010 forecast that was in line with Wall Street expectations, but its slightly higher fourth-quarter profit came in shy of analyst estimates.

The world's largest biotechnology company, which has been struggling with falling sales of its once top-selling anemia drug Aranesp, said it expects 2010 revenue between $15.1 billion and $15.5 billion and earnings of $5.05 to $5.25 per share, excluding items.

Wall Street analysts expect 2010 revenue of $15.31 billion, and earnings of $5.13 per share.

Amgen posted a fourth-quarter net profit of $931 million, or 92 cents per share, compared with a profit of $925 million, or 87 cents per share, a year ago.

Excluding items, Thousand Oaks, California-based Amgen had adjusted earnings of $1.05 per share. Analysts on average expected $1.12 per share, according to Thomson Reuters I/B/E/S.

Revenue for the quarter rose 2 percent to $3.8 billion, in line with Wall Street expectations.

(Reporting by Bill Berkrot. Editing by Robert MacMillan)

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