Amgen, Inc. (NASDAQ:AMGN) announced its second quarter financial results on July 29, 2014. Amgen’s total revenues increased by 11% on the year to $5.18 billion. Enbrel, Kyprolis, Prolia and XGEVA are the strongest performers among the Amgen, Inc. (NASDAQ:AMGN) brands during the second quarter.
Adjusted EPS of Amgen went up by an annual 25% to $2.37, with the help of the higher revenues and increasing profitability of ENBREL. Adjusted net income appreciated by 26% to $1.82 billion. Amgen, Inc. (NASDAQ:AMGN)’s generation of cash flow was $2.1 billion in the second quarter of 2014 in comparison with $1.4 billion in the second quarter of 2013.
“Robust growth through the first half of 2014 affirms the underlying strength of our business. We are making excellent progress in advancing our pipeline as we prepare to launch a number of promising new innovative medicines. From a position of strength, we have announced today restructuring initiatives that will allow us to reallocate resources to invest in our upcoming launches and drive growth,” Robert A. Bradway, Amgen, Inc. (NASDAQ:AMGN)’s chairman & chief executive officer, said in a statement.
Amgen, Inc. (NASDAQ:AMGN) is one of the leading biotechnology companies, which engages in the discovery, development, manufacturing, and delivery of the human therapeutics in the areas of oncology, hematology, inflammation, bone health, nephrology, cardiovascular, and general medicine worldwide. Shares of Amgen recently traded at $123.31 with a trailing price to earnings of 20.02 and a forward price to earnings of 14.08. Amgen has a 2.00% dividend yield and has gained 13.87% during the past 12 months. The stock has a market cap of $93 billion and total debt/equity ratio of 1.4. Amgen had an average annual EPS growth rate of 11.23% during the last five years. Around 5.1% of the Amgen, Inc. (NASDAQ:AMGN) shares held by insiders and 77.9% of the shares held by institutions.