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Financial Report: Amgen

Earnings down 20% in 2011

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Amgen

4Q Revenues: $4.0 billion (+3%)

4Q Earnings: $934.0 million (-9%)

FY Revenues: $15.6 billion (+4%)

FY Earnings: $3.7 billion (-20%)   

Comments: U.S. product sales were up 5% to $3.0 billion in the quarter, and up 4% to $11.7 million for the year. International product sales in the quarter were $900 million (+1%), and $3.6 million for the year (+5%). Combined Neulasta and Neupogen sales were $1.3 billion (+7%) in the quarter and up 8% to $5.2 billion for the year. Enbrel sales were $945 million (+1%) in the quarter and $3.7 billion for the year (+5%). Aranesp sales were down 15% to $538 million in the quarter, due to a unit decline, and down 7% to $2.3 billion for the year, due to a high-teens percentage point unit decline in the U.S. Epogen sales were down 18% to $486 million in the quarter and down 19% to $2.0 billion for the year, due to a decrease in dose utilization related to changes in reimbursement and the product label.

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