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Amgen's Second Quarter 2013 Revenues Increased 5 Percent To $4.7 Billion And Adjusted Earnings Per Share (EPS) Increased 3 Percent To $1.89
Date:7/30/2013

THOUSAND OAKS, Calif., July 30, 2013 /PRNewswire/ -- Amgen (NASDAQ: AMGN) today announced financial results for the second quarter of 2013.  Key results for the quarter include:

  • Total revenues increased 5 percent to $4,679 million, with 9 percent product sales growth driven by Enbrel® (etanercept), Neulasta® (pegfilgrastim), XGEVA® (denosumab), and Prolia® (denosumab).  Product sales included a positive adjustment of $185 million to previous estimates for managed Medicaid rebates based on recent claims experience.  Other revenues were lower by $193 million as a result of a payment from Takeda recognized in the second quarter of 2012.
  • Adjusted EPS grew 3 percent to $1.89, with higher revenues and a lower tax rate partially offset by increased Research & Development (R&D) investment.  Adjusted net income increased 1 percent to $1,444 million.
  • GAAP EPS were $1.65 compared to $1.61 and GAAP net income was $1,258 million compared to $1,266 million.
  • The Company generated approximately $1.4 billion of free cash flow.
  • "We saw solid product trends during the second quarter and are carrying good momentum into the second half," said Robert A. Bradway, chairman and chief executive officer at Amgen. "We continue to make excellent progress with our pipeline of innovative molecules and look forward to multiple data readouts in 2014, including pivotal Phase 3 data for our cholesterol-lowering agent, AMG 145, in the first quarter."Year-over-Year$Millions, except EPS and percentagesQ2 '13Q2 '12YOY ΔTotal Revenues$4,679$4,4775%Adjusted Net Income1,4441,4331%Adjusted EPS1.891.833%GAAP Net Income1,2581,266(1%)GAAP EPS$1.65$1.612%References in this release to "adjusted" measures, measures presented "on an adjusted basis" or to free cash flow refer
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    SOURCE Amgen
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