Amgen Inc, the world's biggest biggest biotechnology company, said second-quarter profit fell 3 per cent as one-time expenses offset an 8 per cent gain in product sales.

Net profit fell to $1.17 billion, or $1.25 a share, from $1.20 billion, or $1.25 a share, unchanged, a year ago. Revenue rose 4 per cent to $3.96 billion.

Excluding one-time items, the company earned 1.37 a share. On that basis, analysts were expecting $1.28. Analysts were expecting revenue of $3.78 billion

US sales of Xgeva, the company's drug to prevent fractures in cancer that has spread to the bone, totaled $73 million in the second quarter, up from $42 million in the first quarter, its first full quarter on the market.

Analysts on average expected US sales of Xgeva, considered Amgen's most important growth driver, of $66 million.

Reuters