Amgen (AMGN), a major American biopharmaceutical company, which develops, manufactures and markets innovative drugs, released a strong report for 3Q15. According to the report, quarterly revenue rose 14% y-o-y to USD 5.7 bn, while analysts expected USD 5.3 bn. Sales of Enbral (+30% y-o-y), Sensipar (+29% y-o-y), Neulasta (+6% y-o-y), Prolia (+25% y-o-y) became revenue growth driver. Adjusted EPS increased to USD 2.72 (+18% y-o-y), outpacing the consensus of USD 2.37. Amgen generated free cash flow worth USD 2.9 bn in Q3, allowing it to raise quarterly dividend to USD 0.79 (+30% y-o-y), yielding 2.0%. In addition, the company bought back shares worth USD 0.7 bn. The Board of Directors approved a new buyback program worth USD 5 bn in October and plans to spend USD 2-3 bn of this amount in 2016. The company upgraded its forecast of financial performance for 2015. Revenue is expected to reach USD 21.4-21.6 bn (previous forecast was USD 21.1-21.4 bn), while adjusted EPS will amount to USD 9.95-10.10 (USD 9.55-9.80 earlier).The company continues to develop new drugs, and some of them are on the last stage of clinical trials. To complete trials, Amgen had to cut staff by 10% this summer. Most of these drugs are to be launched into production in 2016. In our opinion, release of new products, along with the buyback program and higher dividend growth will boost the company's shares. We believe that the name provides attractive investment opportunity and assign a Buy recommendation in the mid-term.