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Financial Report: Amgen

Restructuring to decrease facilities footprint by 23% and a 20% reduction in staff by the end of 2015

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By: Kristin Brooks

Managing Editor, Contract Pharma

Amgen

3Q Revenues: $5.0 billion (+6%)

3Q Earnings: $1.2 billion (-9%)

YTD Revenues: $14.7 billion (+8%)

YTD Earnings: $3.9 billion(-5%)

Comments:  Kyprolis sales in the quarter were $94 million, a 21% increase from 2Q14. Prolia sales increased 43% to $255 million. Neulasta sales increased 5% to $1.2 billion. NEUPOGEN sales decreased 36% mainly due to a $155 million order from the U.S. government in the quarter. XGEVA sales were $318 million, up 22%. Vectibix sales increased 29% to $138 million. EPOGEN sales increased 5% to $518 million. Aranespsales increased 6% to $474 million. ENBREL sales were down 3% to $1.1 billion. Restructuring charges in the quarter were $376 million. The company also announced its restructuring strategy with an approximate 23% decrease in its facilities footprint and 20% reduction in staff by the end of 2015. The company expects to generate as much as $1.5 billion in annual savings.

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