Summary Box: Amgen profit rises on lower taxes

Summary Box: Amgen profit rises in 1Q, though company misses Wall Street's revenue estimates

Associated Press

EARNINGS BEAT: A big tax break helped biotech giant Amgen post better-than-expected quarterly earnings, despite disappointing drug sales.

SALES MISS: Revenue rose 5 percent to $4.24 billion, but missed analyst expectations of $4.37 billion.

STILL SLUMPING: Sales of anemia drugs Aranesp and Epogen continued to slide on reduced dosing and insurance payments due to safety concerns. Aranesp sales fell 10 percent to $168 million, while Epogen declined 2 percent to $435 million.

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