November 21, 2019 / 11:41 AM / 17 days ago

Amgen raises 2019 profit, sales view after buying Celgene psoriasis drug

Nov 21 (Reuters) - Amgen Inc on Thursday raised its full-year profit and revenue forecasts after completing its $13.4 billion acquisition of Celgene Corp's psoriasis therapy Otezla.

Bristol-Myers Squibb Co, which completed its buyout of Celgene on Wednesday, had agreed to divest the drug for the merger to go through.

Amgen now expects 2019 adjusted earnings per share between $14.50 and $14.70, up from its prior range of $14.20 to $14.45.

Full-year revenue is now expected between $23.1 billion and $23.3 billion, compared with the previous range of $22.8 billion to $23.0 billion.

Reporting by Saumya Sibi Joseph in Bengaluru; Editing by Shinjini Ganguli

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below