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Amgen Provides In-Line 2014 Financial Guidance

Amgen (AMGN - Get Report) issued 2014 financial guidance which brackets current Street consensus.

Adjusted 2014 EPS: $7.90 to $8.20 versus current consensus $8.14 per share. Amgen said EPS guidance includes $800 million in incremental operating income from the end of the Enbrel profit share arrangement. 

Total 2014 revenue: $19.2 billion to $19.6 billion versus current consensus $19.58 billion.

Here are Amgen's fourth-quarter financial results in capsule form:

Adjusted EPS of $1.82 versus $1.68 consensus. Total revenue $5.01 billion versus $4.82 billion consensus.

Key product sales vs. consensus:

Epogen/Aranesp worldwide: $995 million vs $949 million
Neupogen/Neulasta worldwide: $1.4 billion vs $1.4 billion 
Enbrel worldwide: $1.2 billion vs $1.2 billion 
Kyprolis: $73 million vs. $72 million

Other updates:

The Kyprolis interim analysis of the phase III "ASPIRE" study and phase III "FOCUS" data both expected in the first half of the year.

Romosozumab: "The Company discussed that it has increased the sample size and completed enrollment in its Phase 3 placebo-controlled registrational study in women with postmenopausal osteoporosis."

Blinatumomab: "The Company discussed the recent initiation of a Phase 3 study in patients with relapsed/refractory B-precursor ALL."

Biosimilars: "The Company announced that it has commenced a pivotal study for its biosimilar Avastin (bevacizumab), the third Amgen biosimilar to enter a pivotal trial. The Company announced that enrollment has resumed for its pivotal study for biosimilar Herceptin (trastuzumab)"


Adam Feuerstein writes regularly for TheStreet. In keeping with company editorial policy, he doesn't own or short individual stocks, although he owns stock in TheStreet. He also doesn't invest in hedge funds or other private investment partnerships. Feuerstein appreciates your feedback; click here to send him an email.


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