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Actionable news in AMGN: Amgen Inc.,

Total revenues increased 2 percent versus the second quarter of 2016 to $5.8 billion.

Exhibit 99.1

News Release

AMGEN REPORTS SECOND QUARTER 2017 FINANCIAL RESULTS

THOUSAND OAKS, Calif. (July 25, 2017) – Amgen (NASDAQ:AMGN) today announced financial results for the second quarter of 2017. Key results include:

Total revenues increased 2 percent versus the second quarter of 2016 to $5.8 billion.
GAAP earnings per share (EPS) increased 18 percent to $2.91 driven by higher operating margins.
GAAP operating income increased 13 percent to $2.7 billion and GAAP operating margin increased 4.9 percentage points to 48.4 percent.
Non-GAAP operating income increased 9 percent to $3.1 billion and non-GAAP operating margin increased 3.8 percentage points to 55.2 percent.
2017 EPS guidance increased to $10.79-$11.37 on a GAAP basis and $12.15-$12.65 on a non-GAAP basis; total revenues guidance revised to $22.5-$23.0 billion.
The Company generated $2.1 billion of free cash flow.

“Our continued solid performance this quarter is yet another indication that we are on track to deliver on our long-term growth objectives,” said Robert A. Bradway, chairman and chief executive officer. “Our newer products are registering strong volume-driven growth globally and we expect their contribution to continue to increase over time, offsetting declines in mature products.”

$Millions, except EPS and percentages Q2’17 Q2’16 YOY D

Total Revenues

$ 5,810 $ 5,688 2%

GAAP Operating Income

$ 2,698 $ 2,380 13%

GAAP Net Income

$ 2,151 $ 1,870 15%

GAAP EPS

$ 2.91 $ 2.47 18%

Non-GAAP Operating Income

$ 3,075 $ 2,812 9%

Non-GAAP Net Income

$ 2,410 $ 2,146 12%

Non-GAAP EPS

$ 3.27 $ 2.84 15%

References in this release to “non-GAAP” measures, measures presented “on a non-GAAP basis” and to “free cash flow” (computed by subtracting capital expenditures from operating cash flow) refer to non-GAAP financial measures. Adjustments to the most directly comparable GAAP financial measures and other items are presented on the attached reconciliations.

AMGEN REPORTS SECOND QUARTER 2017 FINANCIAL RESULTS

Page 2

Product Sales Performance

Total product sales increased 2 percent for the second quarter of 2017 versus the second quarter of 2016.
Repatha sales increased driven by higher unit demand.
Prolia sales increased 15 percent driven primarily by higher unit demand.
Nplate® (romiplostim) sales increased 15 percent driven primarily by higher unit demand.
Sensipar®/Mimpara® (cinacalcet) sales increased 10 percent driven primarily by net selling price.
Aranesp® (darbepoetin alfa) sales increased 6 percent driven by higher unit demand.
Vectibix® (panitumumab) sales increased 5 percent driven by higher unit demand.
XGEVA® (denosumab) sales increased 4 percent driven primarily by higher unit demand.
Enbrel® (etanercept) sales decreased 1 percent due to the impact of competition, offset partially by favorable changes in inventory and net selling price.
Neulasta® (pegfilgrastim) sales decreased 5 percent driven by lower unit demand.
EPOGEN® (epoetin alfa) sales decreased 12 percent driven primarily by net selling price.

AMGEN REPORTS SECOND QUARTER 2017 FINANCIAL RESULTS

Page 3

Product Sales Detail by Product and Geographic Region

$Millions, except percentages Q2’17 Q2’16 YOY D
US ROW TOTAL TOTAL TOTAL

Repatha®

$ 60 $ 23 $ 83 $ 27 *

BLINCYTO®

28 15 43 30 43%

KYPROLIS®

140 71 211 172 23%

Prolia®

326 179 505 441 15%

Nplate®

99 65 164 142 15%

Sensipar® / Mimpara®

342 85 427 389 10%

Aranesp®

288 247 535 504 6%

Vectibix®

62 106 168 160 5%

XGEVA®

292 103 395 381 4%

Enbrel®

1,411 55 1,466 1,484 (1%)

Neulasta®

937 150 1,087 1,149 (5%)

EPOGEN®

292 0 292 331 (12%)

NEUPOGEN®

90 47 137 196 (30%)

Other**

19 42 61 68 (10%)

Total product sales

$ 4,386 $ 1,188 $ 5,574 $ 5,474 2%
* Change in excess of 100%

AMGEN REPORTS SECOND QUARTER 2017 FINANCIAL RESULTS

Page 4

Operating Expense, Operating Margin and Tax Rate Analysis

On a GAAP basis:

Total Operating Expenses decreased 6 percent, with all expense categories reflecting savings from our transformation and process improvement efforts. Cost of Sales margin improved by 0.8 percentage points driven primarily by reduced royalties. Research & Development (R&D) expenses decreased 3 percent driven by lower spending required to support certain later-stage clinical programs. Selling, General & Administrative (SG&A) expenses decreased 6 percent due to the expiration of ENBREL residual royalty payments, offset partially by investments in product launches.
Operating Margin improved by 4.9 percentage points to 48.4 percent.
Tax Rate increased 0.2 percentage points.

On a non-GAAP basis:

Total Operating Expenses decreased 5 percent, with all expense categories reflecting savings from our transformation and process improvement efforts. Cost of Sales margin improved by 0.8 percentage points driven primarily by reduced royalties. R&D expenses decreased 3 percent driven by lower spending required to support certain later-stage clinical programs. SG&A expenses decreased 7 percent due to the expiration of ENBREL residual royalty payments, offset partially by investments in product launches.
Operating Margin improved by 3.8 percentage points to 55.2 percent.
Tax Rate decreased 1.2 percentage points, reflecting discrete benefits associated with the effective settlement of certain state and federal tax matters and favorable changes in the geographic mix of earnings, offset partially by a prior year benefit associated with tax incentives.
$Millions, except percentages
GAAP Non-GAAP
Q2’17 Q2’16 YOY D Q2’17 Q2’16 YOY D

Cost of Sales

$ 1,024 $ 1,050 (2%) $ 710 $ 738 (4%)

% of product sales

18.4 % 19.2 % (0.8) pts. 12.7 % 13.5 % (0.8) pts.

Research & Development

$ 873 $ 900 (3%) $ 851 $ 878 (3%)

% of product sales

15.7 % 16.4 % (0.7) pts. 15.3 % 16.0 % (0.7) pts.

Selling, General & Administrative

$ 1,209 $ 1,292 (6%) $ 1,174 $ 1,260 (7%)

% of product sales

21.7 % 23.6 % (1.9) pts. 21.1 % 23.0 % (1.9) pts.

Other

$ 6 $ 66 (91%) $ 0 $ 0 NM

TOTAL Operating Expenses

$ 3,112 $ 3,308 (6%) $ 2,735 $ 2,876 (5%)

Operating Margin

operating income as a % of product sales

48.4 % 43.5 % 4.9 pts. 55.2 % 51.4 % 3.8 pts.

Tax Rate

15.4 % 15.2 % 0.2 pts. 17.4 % 18.6 % (1.2) pts.

NM: Not Meaningful

pts: percentage points

AMGEN REPORTS SECOND QUARTER 2017 FINANCIAL RESULTS

Page 5

Cash Flow and Balance Sheet

The Company generated $2.1 billion of free cash flow in the second quarter of 2017 versus $2.5 billion in the second quarter of 2016, the difference driven by the timing of tax payments.
The Company’s second quarter 2017 dividend of $1.15 per share was paid on June 8, 2017, a 15 percent increase versus the second quarter of 2016.
During the second quarter, the Company repurchased 6.2 million shares of common stock at a total cost of $1.0 billion. At the end of the second quarter, the Company had $2.5 billion remaining under its stock repurchase authorization.
$Billions, except shares Q2’17 Q2’16 YOY D

Operating Cash Flow

$ 2.3 $ 2.7 ($ 0.4 )

Capital Expenditures

0.2 0.2 0.0

Free Cash Flow

2.1 2.5 (0.3 )

Dividends Paid

0.8 0.8 0.1

Share Repurchase

1.0 0.6 0.4

Avg. Diluted Shares (millions)

738 756 (18 )

Cash and Investments

39.2 35.0 4.2

Debt Outstanding

35.1 33.2 1.8

Stockholders’ Equity

31.7 30.1 1.6

Note: Numbers may not add due to rounding

2017 Guidance

For the full year 2017, the Company now expects:

Total revenues in the range of $22.5 billion to $23.0 billion.
Previously, the Company expected total revenues in the range of $22.3 billion to $23.1 billion.
On a GAAP basis, EPS in the range of $10.79 to $11.37 and a tax rate in the range of 16 percent to 18 percent.
On a non-GAAP basis, EPS in the range of $12.15 to $12.65 and a tax rate in the range of 18.5 percent to 19.5 percent.

AMGEN REPORTS SECOND QUARTER 2017 FINANCIAL RESULTS

Page 6

Second Quarter Product and Pipeline Update

Key development milestones:

Clinical Program

Indication

Projected Milestone

Repatha Hyperlipidemia Regulatory reviews (CV outcomes data)
KYPROLIS Relapsed multiple myeloma

Regulatory reviews (ENDEAVOR OS data)

Regulatory submissions (ASPIRE OS data)

XGEVA Prevention of SREs in multiple myeloma Regulatory reviews
EVENITY Postmenopausal osteoporosis Regulatory submissions
Aimovig†™ (erenumab) Migraine prevention U.S. regulatory review

ABP 215

(biosimilar bevacizumab)

Oncology Regulatory reviews

ABP 980

(biosimilar trastuzumab)

Oncology U.S. regulatory submission

†Trade name provisionally approved by FDA; CV = cardiovascular; OS = overall survival; SRE = skeletal-related event

The Company provided the following updates on selected product and pipeline programs:

Repatha

In June, the Company announced the submission of a supplemental Biologics License Application (sBLA) to the U.S. Food and Drug Administration (FDA) and a variation to the marketing authorization to the European Medicines Agency (EMA) to include data from the 27,564-patient Phase 3 Repatha cardiovascular outcomes study.

KYPROLIS

In July, the Phase 3 ASPIRE study met the key secondary endpoint of OS, demonstrating that KYPROLIS, lenalidomide and dexamethasone reduced the risk of death by 21 percent over lenalidomide and dexamethasone alone.
In July, the Company announced the submission of a supplemental New Drug Application to the FDA and a variation to the marketing application to the EMA to include OS data from the Phase 3 head-to-head ENDEAVOR study.
In June, a Phase 3 study evaluating KYPROLIS in combination with DARZALEX®...

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