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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

xpenditures to be approximately $700 million.

Second Quarter Pipeline Update The Company provided the following information on selected clinical programs:

  • AMG 145: The Company announced that in four Phase 2 studies (evaluating AMG 145 as monotherapy, in combination with statin therapy, in heterozygous familial hypercholesterolemia, and in statin-intolerant subjects), treatment with AMG 145 resulted in a statistically significant reduction in low-density lipoprotein (LDL) cholesterol. Based on the Phase 2 efficacy and safety data, the Company plans to initiate Phase 3 development in early 2013.
  • Rilotumumab (AMG 102): The Company discussed Phase 2 data showing that the addition of rilotumumab to chemotherapy improved median overall survival in subjects with gastric tumors with high expression of the hepatocyte growth factor receptor, MET. Phase 3 planning is underway.
  • AMG 785: The Company stated that it was enrolling a second Phase 3 study (alendronate-controlled) to evaluate safety and efficacy of AMG 785 in women with postmenopausal osteoporosis.
  • KAI Pharmaceuticals: The Company discussed the completion of the acquisition of KAI Pharmaceuticals on July 5, 2012. Phase 3 planning is underway for the lead molecule, KAI-4169.
  • Non-GAAP Financial MeasuresThe Adjusted non-GAAP (U.S. Generally Accepted Accounting Principles) financial measures included above for the second quarters of 2012 and 2011 exclude, for the applicable periods, certain expenses related to acquisitions and cost-savings initiatives, non-cash interest expense associated with our convertible notes and certain other adjustments, as applicable. These adjustments and other items are presented on the attached reconciliations.

    Management has presented its operating results in accordance with GAAP and on an "adjusted" (or non-GAAP) basis for the second quarters of 2012 and 2011. In addition, management has presented its outstanding debt in accorda
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    SOURCE Amgen
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