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Amgen's First Quarter 2013 Revenues Increased 5 Percent To $4.2 Billion And Adjusted Earnings Per Share (EPS) Increased 22 Percent To $1.96
Date:4/23/2013

THOUSAND OAKS, Calif., April 23, 2013 /PRNewswire/ -- Amgen (NASDAQ: AMGN) today announced financial results for the first quarter of 2013.  Key results for the quarter include:

  • Total revenues increased 5 percent to $4,238 million, with 6 percent product sales growth driven by Enbrel® (etanercept), XGEVA® (denosumab) and Prolia® (denosumab).
  • Adjusted EPS grew 22 percent to $1.96 driven by tax benefits and fewer shares outstanding in the quarter.  Adjusted net income increased 16 percent to $1,498 million.
  • GAAP EPS were $1.88 compared to $1.48 and GAAP net income was $1,434 million compared to $1,184 million.
  • Free cash flow was $0.9 billion compared to $0.8 billion.
  • "We are on track to deliver our full-year growth objectives," said Robert A. Bradway, chairman and chief executive officer at Amgen. "In addition, our key pipeline projects are progressing well and we are looking forward to clinical results from ongoing trials."Year-over-Year$Millions, except EPS and percentagesQ1 '13Q1 '12YOY ΔTotal Revenues$4,238$4,0485%Adjusted Net Income1,4981,28716%Adjusted EPS$1.96$1.6122%GAAP Net Income1,4341,18421%GAAP EPS$1.88$1.4827%References in this release to "adjusted" measures, measures presented "on an adjusted basis" or to free cash flow refer to non-GAAP financial measures. These adjustments and other items are presented on the attached reconciliations.Product Sales Performance

  • Total product sales increased 6 percent driven by ENBREL, XGEVA and Prolia.
  • Combined Neulasta® (pegfilgrastim) and NEUPOGEN® (Filgrastim) sales were in line with the prior year.
  • Global Neulasta sales were in line with the prior year as price increases were offse
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  • SOURCE Amgen
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