Earnings Encore for Amgen?

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I think Amgen (AMGN) will beat consensus estimates for sales and profits again today when it reports after the market close, continuing the same trends as last quarter, including better than expected sales of embattled anemia drugs Aranesp and Epogen.

Amgen reported 2Q08 results (see conference call transcript) that beat consensus analyst estimates and raised its full-year [FY] guidance for earnings and revenue, thanks to much stronger-than-expected sales of its anemia drugs Aranesp and Epogen:

- 2Q08 Revenue +1% at $3.8 billion [B] vs. $3.58B expected
- Adjusted Earnings Per Share [EPS] of $1.14 vs. $1.02 expected
- Increased EPS Guidance FY08 of $4.25 to $4.45 from $4.00 - $4.30
- Increased Revenue Guidance FY08 of $14.6B - $14.9B from $14.2B - $14.6B
- Aranesp 2Q08 Sales of $825M vs. $738M expected
- Epogen 2Q08 Sales of $622M vs. $585M expected
- Enbrel 2Q08 Sales of $841M, up 2% from 2Q07
- 2Q08 Research & Development [R&D] Expenses of $779M vs $777M in 2Q07
- Repurchased about 33M shares during 2Q08 for $1.5B with additional $4.9B authorized