Amgen raises 2016 guidance

Amgen Inc. (NASDAQ:AMGN) reported 4Q15 earnings Thursday and raised its 2016 revenue and adjusted EPS guidance. The company now expects $22-$22.5 billion in revenue this year, up from $21.7-$22.3 billion, and expects non-GAAP EPS in the $10.60-$11 range, up from $10.35-$10.75.

On a conference call, CFO David Meline attributed the change to "revised timing of new biosimilar competition" and the inclusion of the R&D tax credit. The company does not expect biosimilar competition in the U.S. for Neulasta pegfilgrastim or Epogen epoetin alfa before YE16. ...