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Amgen's Second Quarter 2013 Revenues Increased 5 Percent To $4.7 Billion And Adjusted Earnings Per Share (EPS) Increased 3 Percent To $1.89
Date:7/30/2013

be approximately $700 million, unchanged from previous guidance.

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

  • Talimogene laherparepvec:  The Company announced that primary analysis of the event-driven overall survival secondary endpoint from a Phase 3 study in melanoma is projected to occur in the first half of 2014.
  • Trebananib:  The Company announced that primary analysis of the event-driven overall survival secondary endpoint from a Phase 3 study in recurrent ovarian cancer is projected to occur in the second half of 2014.
  • XGEVA:  The Company discussed the FDA approval of XGEVA for the treatment of giant cell tumor of bone.
  • AMG 145: The Company announced that pivotal data from AMG 145 Phase 3 studies in subjects with elevated LDL cholesterol is expected in the first quarter of 2014.
  • Non-GAAP Financial MeasuresThe Adjusted non-GAAP (U.S. Generally Accepted Accounting Principles) financial measures included above for the second quarters of 2013 and 2012 exclude, for the applicable periods, certain expenses related to acquisitions, cost-savings initiatives, various legal proceedings, 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 and Free Cash Flow which is a non-GAAP financial measure for the second quarters of 2013 and 2012.  In addition, management has presented its full year 2013 EPS and tax rate guidance in accordance with GAAP and on an "adjusted" (or non-GAAP) basis.  The Company believes that the presentation of non-GAAP financial measures provides useful supplementary information to and facilitates additional analysis by investors.&
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