Leerink Partners Remains Sidelined on Amgen (AMGN) Following 2Q

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Go back to Leerink Partners Remains Sidelined on Amgen (AMGN) Following 2Q

Amgen Reports Second Quarter 2016 Financial Results

July 27, 2016 4:01 PM EDT

THOUSAND OAKS, Calif., July 27, 2016 /PRNewswire/ -- Amgen (NASDAQ: AMGN) today announced financial results for the second quarter of 2016. Key results include:

Revenues increased 6 percent versus the second quarter of 2015 to $5.7 billion. Product sales grew 5 percent driven by Enbrel® (etanercept), Prolia® (denosumab), KYPROLIS® (carfilzomib) and XGEVA® (denosumab). GAAP earnings per share (EPS) increased 15 percent to $2.47 driven by higher revenues and higher operating margins. GAAP operating income increased 15 percent to $2,380 million and GAAP operating margin improved by 3.8 percentage points to 43.5... More