Recap: Amgen Q3 Earnings

Shares of Amgen AMGN were unchanged after the company reported Q3 results.

Quarterly Results

Earnings per share increased 19.40% over the past year to $4.37, which beat the estimate of $3.80.

Revenue of $6,423,000,000 rose by 11.96% year over year, which beat the estimate of $6,350,000,000.

Outlook

Amgen Narrows FY20 Sales Guidance To $25.1B-$25.5B vs $25.41B Estimate, Adj. EPS $15.80-$16.15 vs $15.77 Est.

Conference Call Details

Date: Oct 28, 2020

Time: 05:00 PM

ET Webcast URL: https://edge.media-server.com/mmc/p/kjjwpzrp

Recent Stock Performance

Company's 52-week high was at $264.97

Company's 52-week low was at $177.05

Price action over last quarter: down 12.51%

Company Overview

Amgen is a leader in biotechnology-based human therapeutics, with historical expertise in renal disease and cancer supportive-care products. Flagship drugs include red blood cell boosters Epogen and Aranesp, immune system boosters Neupogen and Neulasta, and Enbrel and Otezla for inflammatory diseases. Amgen introduced its first cancer therapeutic, Vectibix, in 2006 and received approval for bone-strengthening drug Prolia/Xgeva in 2010. Amgen's acquisition of Onyx bolstered the firm's therapeutic oncology portfolio with Nexavar and Kyprolis. Recent launches include Repatha (cholesterol-lowering) and Aimovig (migraine).