Amgen Posts Increases in Profits and Revenues

Biotechnology giant Amgen Inc., headquartered in Thousand Oaks, posted a 1% increase in its fourth-quarter profit on a 2% rise in revenues.

For the quarter that ended Dec. 31, Amgen posted net income of $179.7 million, compared with $178 million a year ago. Revenues in the latest quarter rose to $606.7 million, up from $593.5 million.

In October, Amgen began sales of its third drug, Infergen, which is used to combat hepatitis C. It produced $3 million in sales.

But most of Amgen’s revenues stem from its two blockbuster drugs: Epogen, which treats anemia, and Neupogen, which is widely used with chemotherapy in cancer patients.

For its full fiscal year, Amgen’s net income fell 5% to $644.3 million, compared with a profit of $679.8 million in 1996. Revenues last year climbed 7% to $2.4 billion, up from $2.3 billion.