The Traderszone Network

Published in TZ Latest News 27 October, 2014 by The TZ Newswire Staff

Amgen profit tops Wall Street expectations; raises 2014 outlook

The world’s largest biotechnology company recorded a $376 million charge related to restructuring moves announced July 29 and expects to take another charge of up to $150 million in the fourth quarter. Amgen shares rose more than 1 percent. They are up about 20 percent since the restructuring announcement that involved plant closings and the slashing of 2,400 to 2,900 jobs as the company looks to reallocate resources to prepare for the launch of new medicines, including a potential multibillion-dollar cholesterol drug.

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