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Amgen’s 2Q profit falls 3 pct on rising R&D costs
San Francisco Chronicle

Biotech drugmaker Amgen said Friday that its second-quarter earnings slipped 3 percent on increased research spending and sales costs for product launches plus falling revenue from a key drug.

Its adjusted earnings beat Wall Street estimates, and its shares rose $1.32, or 2.5 percent, to $54.75 in premarket trading.

The Thousand Oaks, Calif., company reported net income of $1.17 billion, or $1.25 per share, in the three months that ended June 30. That compares with $1.2 billion, or $1.25 per share, a year ago.