Amgen, Inc. is a biotechnology company that discovers, develops, manufactures and markets human therapeutics based on advances in cellular and molecular biology. 

http://wwwext.amgen.com

Amgen Board Authorizes $5 Billion Increase in Stock Repurchase Program
Date(s): 12/7/2009 9:06:31 AM
THOUSAND OAKS, Calif., Dec. 7 /PRNewswire-FirstCall/ -- Amgen (Nasdaq: AMGN) today announced that its board of directors has authorized repurchases of up to an additional $5 billion in Amgen common stock. The company currently has approximately $1.2 billion remaining under its previous stock repurchase authorization. This new authorization reflects Amgen's confidence in its long-term prospects.

Amgen's Third Quarter 2009 Adjusted Earnings Per Share Increased 21 Percent to $1.49
Third Quarter 2009 Revenue Decreased 2 Percent to $3.8 Billion
THOUSAND OAKS, Calif., Oct. 21 /PRNewswire-FirstCall/ -- Amgen (Nasdaq: AMGN) reported adjusted earnings per share (EPS) of $1.49 for the third quarter of 2009, an increase of 21 percent compared to $1.23 for the third quarter of 2008. Adjusted net income increased 16 percent to $1,518 million in the third quarter of 2009 compared to $1,308 million in the third quarter of 2008.
Total revenue decreased 2 percent during the third quarter of 2009 to $3,812 million versus $3,875 million in the third quarter of 2008.
"Our third quarter results reflect the continued stability of our core businesses in the face of increased competition," said Kevin Sharer, chairman & chief executive officer. "We are pleased by the results of clinical studies for denosumab and Vectibix that we recently presented at a scientific meeting, and look forward to making these innovative medicines available to patients in their respective indications."
Adjusted EPS and adjusted net income for the third quarter of 2009 and 2008 exclude, for the applicable periods, stock option expense, certain expenses related to acquisitions, a strategic decision to change manufacturing processes and the resolution of certain non-routine transfer pricing issues with the Internal Revenue Service (IRS), and certain other items. In addition, adjusted EPS and adjusted net income for the third quarter of 2009 and 2008 exclude the incremental non-cash interest expense resulting from a change in accounting for convertible debt as discussed below. These expenses and other items are itemized on the attached reconciliation tables.
On a reported basis and calculated in accordance with United States (U.S.) Generally Accepted Accounting Principles (GAAP), Amgen's GAAP EPS were $1.36 in the third quarter of 2009, a 30 percent increase compared to $1.05 in the same quarter last year. GAAP net income increased 24 percent to $1,386 million in the third quarter of 2009 from $1,121 million in the third quarter of 2008. GAAP net income for the third quarter of 2008 was negatively impacted by an $84 million inventory write-off resulting from a strategic decision to change manufacturing processes. Effective Jan. 1, 2009, Amgen adopted a new accounting standard which changed the method of accounting for the Company's convertible notes. In addition, as required, the Company also revised its previously reported financial statements to apply this change in accounting to prior periods. Under this new accounting method, the Company's GAAP EPS and net income have been reduced as a result of recognizing incremental non-cash interest expense. In connection with adopting this new accounting standard, Amgen recorded $63 million and $59 million of additional non-cash interest expense in the third quarter of 2009 and 2008, respectively. In addition, the Company's previously reported GAAP EPS and net income for the third quarter of 2008 have been reduced by $0.04 per share and $37 million to $1.05 per share and $1,121 million, respectively, as a result of adopting this new accounting method.

Amgen's First Quarter 2009 Adjusted Earnings Per Share Decreased 4 Percent to $1.08
Date: 4/23/2009 4:08:00 PM
    First Quarter 2009 Revenue Decreased 8 Percent to $3.3 Billion
    First Quarter 2009 GAAP Earnings Per Share Decreased 3 Percent to $0.98 
    2009 Total Revenue Guidance Range Lowered from $14.8 to $15.2 Billion to $14.4 to $14.8 Billion
    2009 Adjusted Earnings Per Share Guidance Range Maintained at $4.55 to $4.75
    THOUSAND OAKS, Calif., April 23 /PRNewswire-FirstCall/ -- Amgen (Nasdaq  AMGN) reported adjusted earnings per share (EPS) of $1.08 for the first ?quarter of 2009, a decrease of 4 percent compared to $1.12 for the first quarter of 2008.  Adjusted net income decreased 8 percent to $1,120 million in the first quarter of 2009 compared to $1,218 million in the first quarter of 2008.
    Total revenue decreased 8 percent during the first quarter of 2009 to $3,308 million versus $3,613 million in the first quarter of 2008.
    Adjusted EPS and adjusted net income for the first quarter of 2009 and 2008 exclude, for the applicable periods, stock option expense, certain
expenses related to acquisitions, restructuring charges and certain other items.  In addition, adjusted EPS and adjusted net income for the three months ?ended March 31, 2009 and 2008 exclude the incremental non-cash interest expense resulting from a change in accounting for convertible debt as discussed below.  These expenses and other items are itemized on the attached reconciliation tables.
    On a reported basis and calculated in accordance with United States (U.S.) Generally Accepted Accounting Principles (GAAP), Amgen's GAAP EPS were $0.98 in the first quarter of 2009, a 3 percent decrease compared to $1.01 in the same quarter last year.  GAAP net income decreased 7 percent to $1,019 million ,in the first quarter of 2009 from $1,100 million in the first quarter of 2008.
Effective Jan. 1, 2009, Amgen adopted Financial Accounting Standards Board's Staff Position No. APB 14-1, "Accounting for Convertible Debt Instruments That May Be Settled in Cash upon Conversion (Including Partial Cash Settlement)"
("FSP APB 14-1"), which changed the method of accounting for the Company's, convertible notes. In addition, as required, the Company also revised its ,previously reported financial statements to apply this change in accounting to prior periods.  Under this new accounting method, the Company's EPS and net income calculated in accordance with GAAP have been reduced as a result of recognizing incremental non-cash interest expense. In connection with adopting FSP APB 14-1, Amgen recorded $61 million and $57 million of additional non-cash interest expense in the three months ended March 31, 2009 and 2008, ,respectively. In addition, the Company's previously reported EPS and net ,income calculated in accordance with GAAP for the three months ended March 31, ,2008 have been reduced by $0.03 per share and $36 million to $1.01 per share and $1,100 million, respectively, as a result of adopting this new accounting method.

Amgen Announces Webcast of 2008 Second Quarter Financial Results
THOUSAND OAKS, Calif., Jul 17, 2008 (BUSINESS WIRE) -- Amgen (NASDAQ:AMGN) today announced that it plans to report its second quarter financial results on Monday, July 28, 2008 after the close of the financial markets. The announcement will be followed by a conference call with the investment community at 2 p.m. Pacific Time. Participating in the call from Amgen will be Kevin Sharer, chairman and chief executive officer, and other members of Amgen's senior management team. 

Amgen's First Quarter 2008 Adjusted Earnings Per Share Increased 4 percent to $1.12
First Quarter 2008 Revenue Decreased 2 percent to $3.6 Billion
First Quarter 2008 GAAP Earnings Per Share Increased 11 percent to $1.04
THOUSAND OAKS, Calif., Apr 24, 2008 (BUSINESS WIRE) -- Amgen (NASDAQ:AMGN) reported adjusted earnings per share (EPS), excluding stock option expense and certain other expenses, of $1.12 for the first quarter of 2008, an increase of 4 percent compared to $1.08 for the first quarter of 2007. Adjusted net income, excluding stock option expense and certain other expenses, decreased 4 percent to $1,218 million in the first quarter of 2008 compared to $1,270 million in the first quarter of 2007. Stock option expense on a per share basis totaled 2 cents and 3 cents for the first quarter of 2008 and 2007, respectively.
Total revenue decreased 2 percent during the first quarter of 2008 to $3,613 million versus $3,687 million in the first quarter of 2007. 
Adjusted EPS and adjusted net income for the first quarter 2008 and 2007 exclude, for the applicable periods, stock option expense, certain expenses related to acquisitions, restructuring charges and certain other items. These expenses and other items are itemized on the attached reconciliation tables. Adjusted EPS including the impact of stock option expense are also itemized in the notes to the attached reconciliation tables. 
On a reported basis and calculated in accordance with United States (U.S.) Generally Accepted Accounting Principles (GAAP), Amgen's GAAP EPS were $1.04 in the first quarter of 2008, an 11 percent increase compared to $0.94 in the same quarter last year. GAAP net income increased 2 percent to $1,136 million in the first quarter of 2008 from $1,111 million in the first quarter of 2007. 
"Though first quarter product sales were mixed, based on current trends and expectations, we are confident that revenues for the year will be within our previously announced guidance," said Kevin Sharer, chairman and CEO. "We continue to be encouraged by the lasting effects of our cost management efforts. These combined with our revenue and expense expectations place us solidly within our adjusted EPS guidance for the year. Most importantly, we will sustain a strong R&D investment as we look forward to disclosing important clinical data in the next 6 to 12 months."
Product Sales Performance 
During the first quarter of 2008, total product sales decreased 1 percent to $3,537 million from $3,565 million in the first quarter of 2007. Sales in the U.S. totaled $2,788 million, a decrease of 3 percent versus $2,884 million in the first quarter of 2007. International sales increased 10 percent to $749 million versus $681 million for the first quarter of 2007. Changes in foreign exchange positively impacted first quarter 2008 international sales by $72 million. Excluding the impact of foreign exchange, total product sales decreased 3 percent and international product sales decreased 1 percent. 
 

Amgen's Fourth Quarter 2007 Adjusted Earnings Per Share (EPS) Increased 11 Percent to $1.00; Full Year 2007 Adjusted EPS Increased 10 Percent to $4.29
Fourth Quarter 2007 Revenue Decreased 2 Percent to $3.7 Billion; Full Year 2007 Revenue Increased 4 Percent to $14.8 Billion Fourth Quarter 2007 GAAP EPS Increased 7 Percent to $0.76; Full Year 2007 GAAP EPS Increased 14 Percent to $2.82 2008 Total Revenue Expected to be in the Range of $14.2 to $14.6 Billion 2008 Adjusted EPS Expected to be in the Range of $4.00 to $4.30
THOUSAND OAKS, Calif., Jan 24, 2008 (BUSINESS WIRE) -- Amgen (NASDAQ:AMGN) reported adjusted EPS, excluding stock option expense and certain other expenses, of $1.00 in the fourth quarter of 2007, an increase of 11 percent compared to $0.90 in the fourth quarter of 2006. Adjusted net income, excluding stock option expense and certain other expenses, increased 3 percent to $1,088 million in the fourth quarter of 2007 compared to $1,060 million in the fourth quarter of 2006. Stock option expense on a per share basis totaled 3 cents in the fourth quarter of 2007 and 2006, respectively.
Full year 2007 adjusted EPS, excluding stock option expense and certain other expenses, were $4.29 versus $3.90 in 2006, a 10 percent increase. Full year 2007 adjusted net income, excluding stock option expense and certain other expenses, was $4,804 million versus $4,620 million in 2006, a 4 percent increase. Stock option expense on a per share basis totaled 12 cents and 14 cents in 2007 and 2006, respectively.
Total revenue decreased 2 percent during the fourth quarter of 2007 to $3,745 million from $3,835 million in the fourth quarter of 2006 and increased 4 percent in the full year 2007 to $14,771 million from $14,268 million in 2006.
Adjusted EPS and adjusted net income for the fourth quarter and full year 2007 and 2006 exclude, for the applicable periods, stock option expense, certain expenses related to acquisitions, restructuring charges and certain other items. These expenses and other items are itemized on the attached reconciliation tables. Adjusted EPS including the impact of stock option expense are also itemized on the attached notes to the reconciliation tables.
On a reported basis and calculated in accordance with United States (U.S.) Generally Accepted Accounting Principles (GAAP), Amgen's GAAP EPS were $0.76 in the fourth quarter of 2007, an increase of 7 percent compared to $0.71 in the same quarter last year. GAAP net income was relatively unchanged at $835 million in the fourth quarter of 2007 versus $833 million in the fourth quarter of 2006. For the full year 2007, Amgen's reported GAAP EPS increased 14 percent to $2.82 from $2.48 in 2006. Full year 2007 GAAP net income was $3,166 million versus $2,950 million in 2006, an increase of 7 percent. GAAP reported results for the full year 2007 were negatively impacted by the write-off of $590 million of acquired in-process research and development related to the acquisitions of Alantos and Ilypsa while the fourth quarter and full year 2006 results were negatively impacted by the write-off of $130 million and $1.2 billion, respectively, of acquired in-process research and development related to the acquisitions of Avidia and Abgenix. GAAP reported results for the fourth quarter and full year 2007 were also negatively impacted by $157 million and $739 million, respectively, of charges related to the previously announced restructuring plan.
As a result of the regulatory and reimbursement changes to Erythropoiesis Stimulating Agent (ESA) products and their impact on the Company's operations, in particular Aranesp(R) (darbepoetin alfa), on Aug. 15, 2007, Amgen announced plans to restructure its worldwide operations in order to improve its cost structure while continuing to make significant research and development investments and build the framework for future growth. Through Dec. 31, 2007, Amgen has incurred $739 million out of an estimated $775 to $825 million of restructuring charges and anticipates that the remaining charges will be incurred in 2008. 

Amgen's Second Quarter 2007 Adjusted Earnings Per Share Increased 7 Percent to $1.12
Second Quarter 2007 Revenue Increased 3 Percent to $3.7 Billion; Anemia Franchise Product Sales Decreased 6 Percent Denosumab Meets All Endpoints in a Pivotal Phase 3 Trial Second Quarter 2007 GAAP Earnings Per Share Increased to $0.90
THOUSAND OAKS, Calif.--(BUSINESS WIRE)--July 26, 2007--Amgen (NASDAQ: AMGN) reported adjusted earnings per share (EPS), excluding stock option expense and certain other expenses, of $1.12 for the second quarter of 2007, an increase of 7 percent compared to $1.05 during the second quarter of 2006. Adjusted net income, excluding stock option expense and certain other expenses, increased 2 percent to $1,265 million in the second quarter of 2007 compared to $1,235 million in the second quarter of 2006. Stock option expense on a per share basis totaled 3 cents and 4 cents in the second quarter of 2007 and 2006, respectively.
Total revenue increased 3 percent during the second quarter of 2007 to $3,728 million versus $3,604 million in the second quarter of 2006.
Adjusted EPS and adjusted net income for the second quarter 2007 and 2006 exclude stock option expense, certain expenses related to acquisitions, asset impairments and certain other items. These expenses and other items are itemized on the reconciliation tables below. Adjusted EPS including the impact of stock option expense is also itemized on the reconciliation tables below.
On a reported basis and calculated in accordance with U.S. Generally Accepted Accounting Principles (GAAP), Amgen's GAAP EPS was $0.90 in the second quarter of 2007 and includes $289 million of pre-tax charges for asset impairment and related costs. As part of the Company's global review of its business plans, management decided to make changes to various ongoing capital projects. These decisions were primarily focused on rationalizing the Company's network of manufacturing facilities in order to gain cost efficiencies while continuing to meet product demand. In particular, these decisions include a re-scoping of Ireland manufacturing operations, the construction of which was previously reported to have been delayed, certain revisions to planned manufacturing expansion in Puerto Rico and, to a lesser degree, moderated expansion of research facilities. Amgen's GAAP EPS in the second quarter of 2006 was 1 cent and included a $1.1 billion non-tax deductible write-off of acquired in-process research and development related to the acquisition of Abgenix, which closed on April 1, 2006. Amgen's GAAP net income increased to $1,019 million in the second quarter of 2007 versus $14 million in the second quarter of 2006.

"This has been a difficult period and this quarter's low growth is a reflection of that reality," said Kevin Sharer, chairman & CEO. "That said, we are making progress on many fronts to change this trend and return Amgen to strong future performance."