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Amgen’s First Quarter 2011 Revenue Increased 3 Percent to $3.7 Billion
Date:4/20/2011

uired with the acquisitions of Abgenix, Inc. (Abgenix) and Avidia, Inc. (Avidia). (e) To exclude the expense resulting from the cash settlement of unvested Biovex Group, Inc. (BioVex) employee stock options in connection withour acquisition of BioVex. (f) To exclude transaction costs associated with certain of our recently completed or announced business combinations. (g) To exclude the ongoing, non-cash amortization of acquired product technology rights, primarily ENBREL, related to the ImmunexCorporation (Immunex) acquisition. (h) To exclude certain charges pursuant to our continuing efforts to improve cost efficiencies in our manufacturing operations. (i) To exclude the net benefit arising from legal settlements. (j) To exclude the incremental non-cash interest expense resulting from a change in the accounting for our convertible notes effectiveJanuary 1, 2009. (k) To exclude the tax effect of the above adjustments.  The tax provision (benefit) for the adjustments between our GAAP and “Adjusted”results takes into account the tax treatment and related tax rate(s) that apply to each adjustment in the applicable tax jurisdiction(s).Generally, this results in a tax impact at the U.S. marginal tax rate for certain adjustments, including amortization of intangible assetsand non-cash interest expense associated with our convertible notes, whereas the tax impact of other adjustments, including stock optionexpense, depends on whether the amounts are deductible in the tax jurisdictions where the asset is located or the expenses are incurredand the applicable tax rate(s) in those jurisdictions.  Due to these factors, the effective tax rates for the above adjustments to our GAAPresults for the three months ended March 31, 2011 and 2010 were 32.0% and 36.8%, respectively. (l) To exclude the income tax benefit related principally to certain prior period charges excluded from "Adjusted" earnings. (m) The "Adjusted" tax rate for the three months ended March
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