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Amgen Updates Guidance - Quick Facts

(RTTNews) - Amgen (AMGN) announced, for the full year 2019, the company now expects: non-GAAP earnings per share in the range of $14.20 to $14.45. Previously, the company expected non-GAAP EPS in the range of $13.75 to $14.30. Total revenues are currently projected in the range of $22.8 billion to $23.0 billion. Previously, the company expected total revenues in the range of $22.4 billion to $22.9 billion.

Analysts polled by Thomson Reuters expect the company to report profit per share of $14.39 on revenue of $22.85 billion. Analysts' estimates typically exclude special items.

For the third-quarter, non-GAAP EPS decreased 1 percent to $3.66 as a result of lower revenue, offset partially by lower weighted-average shares outstanding. On average, 21 analysts polled by Thomson Reuters expected the company to report profit per share of $3.53, for the quarter.

Third-quarter total revenues decreased 3 percent to $5.7 billion in comparison to the third quarter of 2018, reflecting the impact of biosimilar and generic competition against key products. Analysts expected revenue of $5.63 billion, for the quarter. Total product sales decreased 1 percent.

Amgen expects to close the Otezla acquisition before the end of the fourth quarter.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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