Biotech giant Amgen Inc. said Tuesday that its first-quarter profit rose 5 percent on higher sales of its top two drugs and two new ones, and it easily beat Wall Street forecasts. The maker of biologic drugs such as Enbrel for rheumatoid arthritis said net income was $1.18 billion, or $1.48 per share, up from $1.13 billion, or $1.20 per share, a year ago. Excluding one-time items, the Thousand Oaks, Calif., company said it would have earned $1.29 billion, or $1.61 per share. Revenue totaled $4.05 billion, up 9 percent, despite sharply lower sales for two drugs with recent safety warnings.
