Amgen Announces Financial Results for Q2
Amgen has announced financial results for the second quarter of 2012.
Leading biotech company Amgen has announced financial results for the second quarter of 2012.
The company's 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 t
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