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ARTICLE | Financial News

Amgen expects to hit 2015 financial targets early

January 24, 2013 2:25 AM UTC

Amgen Inc. (NASDAQ:AMGN) said it is on track to reach its 2015 revenue guidance two years early and its 2015 adjusted EPS guidance about one year early. In 2011, the company said it expected 2015 revenues of $16-$18 billion and adjusted diluted EPS of $7.25-$8.60. The company, which said it will provide more details in a business review on Feb. 7, attributed the news to the "accelerated" performance of its business.

The update came on a conference call to discuss the company's 2012 and 4Q12 earnings. Amgen reported 4Q adjusted diluted EPS of $1.40, beating the Street by a penny and up 16% from $1.21 in 4Q11. Fourth quarter revenues rose 11% to $4.42 billion, above the Street's estimate of $4.37 billion. For 2012, Amgen reported adjusted diluted EPS of $6.51, beating the Street by a penny and up 22% from $5.33 in 2011. Revenues for the year rose 11% to $17.3 billion, above the consensus estimate of $17.2 billion. ...