News Summary: Amgen 3Q profit, sales both jump

News Summary: Strong medicine sales boost Amgen's 3Q profit, company working on expansion

Associated Press

THE RESULTS: Amgen, the world's biggest biotech company, saw sales jump 10 percent to $4.75 billion and net income skyrocket 24 percent to $1.37 billion in the third quarter.

THE REASONS: Amgen benefited from a lower tax rate and a one-time $155 million U.S. government order for Neupogen, a drug for boosting infection-fighting white blood cells that protects against radiation exposure.

THE OUTLOOK: The company raised the lower end of its 2013 full-year profit forecast by a nickel and now expects $7.35 to $7.45 per share. Meanwhile, it's working on multiple strategies to expand its business.

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