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Amgen Outlines Strategy, Growth Objectives and Capital Allocation Plans
Date:4/21/2011

NEW YORK, April 21, 2011 /PRNewswire/ -- Amgen (NASDAQ: AMGN) today outlined the Company's strategy, capital allocation plans and provided financial guidance for 2015 during a meeting with investors in New York.

Kevin Sharer, chairman & CEO opened the meeting by outlining key elements of the Company's strategy:

  • Bring medicines to market that advance treatment of serious illness;
  • Make significant and sustained investment in research and development (R&D) and participate in a wide range of therapeutic areas;
  • Reliably manufacture products with the highest quality and lowest cost;
  • Expand Amgen's operating footprint into emerging markets and Japan;
  • Manage the Company's cost structure to grow earnings ahead of revenues;
  • Use capital wisely, maintain a strong balance sheet, and return significant capital to shareholders; and
  • Sustain a strong social architecture that attracts the best staff and enables them to perform at the highest levels.

The Company gave financial guidance for 2015:

  • Revenues of $16-$18 billion;  
  • Adjusted net income of $6-$7 billion; and
  • Adjusted earnings per share (EPS) of $7.25-$8.60, representing a compound annual growth rate of between 7 and 11 percent.

The Company's guidance was supported by plans to build the denosumab franchise (Prolia® and XGEVA™) to $3-$4 billion of worldwide sales by 2015, an operating plan to drive margin improvement and a clear capital allocation plan.  

As part of its capital allocation plan, the Company also announced that Amgen's Board of Directors has approved a dividend policy on its common stock. Amgen will declare its first quarterly dividend with its second quarter 2011 earnings results. Based on its curr
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SOURCE Amgen
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