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Amgen's Second Quarter 2012 Revenues Increased 13 Percent To $4.5 Billion And Adjusted Earnings Per Share (EPS) Increased 34 Percent To $1.83
Date:7/26/2012

THOUSAND OAKS, Calif., July 26, 2012 /PRNewswire/ -- Amgen (NASDAQ: AMGN) today announced financial results for the second quarter of 2012.  Key results for the quarter include:

  • Total revenues increased 13 percent to $4,477 million, with 8 percent product sales growth driven by strong performance across the portfolio.
  • Amgen modified its agreement with Takeda to grant exclusive worldwide development rights for motesanib, recognizing income of $206 million in other revenues.
  • Adjusted EPS grew 34 percent to $1.83 due to 23 percent adjusted operating income growth and lower shares outstanding.  Adjusted net income increased 12 percent to $1,433 million.
  • GAAP EPS increased 29 percent to $1.61 and GAAP net income increased 8 percent to $1,266 million.
  • Amgen generated approximately $2.2 billion of free cash flow.
  • Four AMG 145 Phase 2 studies have successfully completed and the Company plans to initiate Phase 3 development in early 2013.
  • "I am very pleased with the performance of the business in the first half," said Bob Bradway, CEO at Amgen. "I am excited about the growth opportunities in our research and development pipeline, particularly our biologic AMG 145 for hypercholesterolemia."
    Year-Over-Year (YOY)$Millions, except EPS and percentagesQ2 '12Q2 '11YOY ΔTotal Revenue$4,477$3,95913%Adjusted Net Income1,4331,28112%Adjusted EPS1.831.3734%GAAP Net Income1,2661,1708%GAAP EPS$1.61$1.2529%Adjusted EPS, adjusted operating income, adjusted net income, and free cash flow are non-GAAP financial measures.  These adjustments and other items are presented on the attached reconciliations.  

    Product Sales Performance

  • Total product sales increased 8 percent driven by strong commercial execution across the portfolio.
  • Combined Neulasta® (pegfilgra
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  • SOURCE Amgen
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