Amgen reported earnings after the close that were better than expected (via Bloomberg):
Amgen Inc. (AMGN), the world’s largest biotechnology company, reported fourth-quarter profit that beat analyst estimates as sales of arthritis and bone drugs rose.
Net income declined 16 percent to $788 million, or $1.01 a share, from $934 million, or $1.08 a share, a year earlier, on higher expenses for late-stage clinical trials and drug promotion, theThousand Oaks, California-based company said today in a statement. Earnings, excluding some items, of $1.40 a share topped by 1 cent the average of 10 analyst estimates compiled by Bloomberg. Revenue rose 11 percent to $4.42 billion.
Amgen is part of our Global Opportunities portfolio. We’ll add an update to this post after reviewing the numbers.
For information on Alhambra Investment Partners’ money management services and global portfolio approach to capital preservation, Joe Calhoun can be reached at: jyc3@alhambrapartners.com or 
786-249-3773.
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