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Amgen’s First Quarter 2011 Revenue Increased 3 Percent to $3.7 Billion
Date:4/20/2011
companies to realize the new science’s promise by bringing safe, effective medicines from lab to manufacturing plant to patient. Amgen therapeutics have changed the practice of medicine, helping millions of people around the world in the fight against cancer, kidney disease, rheumatoid arthritis, bone disease, and other serious illnesses. With a deep and broad pipeline of potential new medicines, Amgen remains committed to advancing science to dramatically improve people’s lives. To learn more about our pioneering science and vital medicines, visit www.amgen.com.
CONTACT: Amgen, Thousand Oaks
David Polk, 805-447-4613 (media)
Arvind Sood, 805-447-1060 (investors)
Amgen Inc.Condensed Consolidated Statements of Income andReconciliation of GAAP Earnings to "Adjusted" Earnings(In millions, except per share data)(Unaudited)Three Months EndedThree Months EndedMarch 31, 2011March 31, 2010GAAPAdjustments
"Adjusted"GAAPAdjustments
"Adjusted"Revenues:Product sales$ 3,618$
-$
3,618$ 3,528$
-$
3,528Other revenues88-8864-64Total revenues3,706-3,7063,592-3,592Operating expenses:Cost of sales (excludes amortization of certainacquired intangible assets presented below)564(3)
(a)540508(4)
(a)504(10)
(b)(11)
(c)Research and development736(9)
(a)703646(12)
(a)617(17)
(d)(17)
(d)(7)
(e)Selling, general and administrative1,023(10)
(a)1,011884(11)
(a)873(2)
(f)Amortization of certain acquired intangible assets74(74)
(g)-74(74)
(g)-Other16(16)
(h)-(1)1
(i)-Total operating expenses2,413(159)2,2542,111(117)1,994Operating income1,2931591,4521,4811171,598Interest expense, net135(44)
(j)91145(65)
(j)80Interest and other income, net148-14884-84Income before income taxes1,3062031,5091,4201821,602Provision for income ta
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