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Amgen’s Fourth Quarter 2010 Adjusted Earnings Per Share Increased 11 Percent to $1.17; Full Year 2010 Adjusted Earnings Per Share Increased 6 Percent to $5.21
Date:1/24/2011

lant 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.

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 EndedDecember 31, 2010December 31, 2009GAAPAdjustments

"Adjusted"GAAPAdjustments

"Adjusted"Revenues:Product sales$ 3,760$   -$
3,760$ 3,743$
-$
3,743Other revenues81-8166-66Total revenues3,841-3,8413,809-3,809Operating expenses:Cost of sales (excludes amortization of certain acquired intangible assets presented below)572(4)

(a)568538(3)

(a)535Research and development854(11)

(a)825891(9)

(a)864(18)

(b)(18)

(b)Selling, general and administrative1,156(14)

(a)1,1421,180(15)

(a)1,159(6)

(f)Amortization of certain acquired intangible assets73(73)

(c)-73(73)

(c)-Other 118(118)

(d)-4(5)

(e)-1

(f)Total operating expenses2,773(238)2,5352,686(128)2,558Operating income1,0682381,3061,1231281,251Interest expense, net162(68)

(g)94142(64)

(g)78Interest and other income, net93-9394-94Income before income taxes9993061,3051,0751921,267(Benefit) provision for income taxes(23)107

(h)20214458

(h)202113

(i)5

(j)Net income $ 1,022$  81$
,103$
931$ 134$
,065Earnings per share:Basic $   1.09$
.17$   0.93$
.06Diluted (l)$   1.08$'/>"/>

SOURCE Amgen
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