Amgen Kicks Off Week of Big Biotech Earnings

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"It's imperative that each company meets sales and profit targets for the past quarter, but investors are particularly interested in updates on drugs being developed as they represent future growth."

Minyanville, Brett Chase

When Amgen, the biggest of the big biotech companies, reports first-quarter earnings at the end of the day Tuesday, the focus will be on declining sales of key products, competitive threats, and plans for a mountain of cash.

Amgen is the first of the four biggest U.S. biotech companies to report quarterly earnings. Celgene releases earnings before markets open on Thursday and Gilead Sciences will report its results after markets close the same day. Biogen Idec reports Tuesday, May 1 before markets open.

It's imperative that each company meets sales and profit targets for the past quarter, but investors are particularly interested in updates on drugs being developed as they represent future growth. At least that's the case in three of the four storylines.

For Amgen, it's a tale of an aging giant that is the least nimble of the four. CEO Kevin Sharer will preside over his last quarterly conference call with investors as he prepares to step down and make way for new chief exec Robert Bradway next month. . .View Full Article

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