GOOD NEWS, BAD NEWS: Amgen Inc.'s first-quarter profit beat Wall Street expectations as sales of its anti-infection drugs improved. However the company said 2010 results will come in at the low end of its forecast due to health reform costs.
DISCOUNTS: Amgen said new requirements under the reform bill will cost it $200 million to $250 million this year. Among other provisions, the law gives bigger drug discounts to Medicaid recipients, and makes more managed care groups eligible for Medicaid drug rebates.
WAITING ON PROLIA: The FDA is scheduled to make a decision on the potential blockbuster osteoporosis drug by July 25. Amgen is hoping sales of this drug could offset declines in sales of anemia treatments Aranesp and Epogen.
Copyright 2010 AP Features
