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Dec 31, 2019
Amgen Q4 2019 Earnings Report
Amgen's Q4 2019 financial results were announced, showing a slight decrease in total revenues and mixed performance across different products.
Key Takeaways
Amgen reported a 1% decrease in total revenues for Q4 2019, amounting to $6.2 billion, impacted by biosimilar and generic competition. GAAP EPS decreased by 5% to $2.85, while non-GAAP EPS increased by 6% to $3.64. Product sales saw a decline, but several products including Repatha, Parsabiv, and Blincyto experienced double-digit unit growth.
Total revenues decreased by 1% to $6.2 billion due to biosimilar and generic competition.
GAAP EPS decreased by 5% to $2.85, while non-GAAP EPS increased by 6% to $3.64.
Product sales declined 2% globally, but several products saw double-digit unit growth.
Otezla contributed $178 million in sales after its acquisition in November 2019.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
For the full year 2020, Amgen expects total revenues in the range of $25.0 billion to $25.6 billion and on a GAAP basis, EPS in the range of $10.85 to $11.65 and a tax rate in the range of 10.5% to 11.5%.
Positive Outlook
- Total revenues in the range of $25.0 billion to $25.6 billion.
- Capital expenditures to be approximately $700 million.
- New Drug Application to expand is under review by the U.S. Food and Drug Administration
- strategic collaborations with leading diagnostic companies
- European Commission granted marketing authorization for EVENITY
Challenges Ahead
- GAAP EPS in the range of $10.85 to $11.65
- Tax rate in the range of 10.5% to 11.5%.
- Competition from other products including biosimilars
- Difficulties or delays in manufacturing our products
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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