Pandemic and pricing dent first quarter performance at Amgen
A hugely disappointing first quarter for Amgen (Nasdaq: AMGN) saw revenues slide to $5.9 billion, down from $6.2 billion and below most analysts’ expectations.
Shares in the company fell 2% on Tuesday, and continued falling a further 3% in after-hours trading.
Chief executive Robert Bradway explained that the firm’s performance was hit by the coronavirus pandemic, with more people staying at home instead of visiting their doctor. March is also traditionally a slow month, the firm said.
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