Amgen, Inc. (AMGN) Announces Revenue Growth And Profitability In The Second Quarter

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.

Amgen, Inc. (NASDAQ:AMGN)

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.

 Disclosure: none

Biotech Insider Alert - $6 Stock To Hit $40

$200 Million Dollar Healthcare Hedge Fund's #1 Best Idea Right Now

The best healthcare hedge fund out there right now is one of the largest shareholders in this biotech stock. The fund returned more than 20% in each of the last 2 years with a virtually fully hedged portfolio, and it's sending out a BUY signal on this biotech stock. Get your FREE REPORT today (retail value of $300)

This is a FREE report from Insider Monkey. Credit Card is NOT required.
Click here to Read Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 74 percentage points in 2.5 years. Our beta is only 1.2 (download a FREE newsletter and see the details inside)

Lists

Best Selling Magazines in the World

Shortest People in History

The Most Celebrated Holidays in the World

Most Expensive Handbag Brands in the World

Top Selling Comic Book Issues of this Century

The Most Powerful Women in Politics

Best Paid DJs

Most Rebellious Female Artists

Best Paid TV Actresses of 2014

Best Paid Actors of 2014

Most Expensive Horses in the World

Tallest People Ever

Most Encouraging Feminist Celebrities

Best Paid Supermodels of 2014

Top 10 Suburbs for Retirement in 2015

10 Wealthiest Cities in America

Top 10 TED Talks for Entrepreneurs

Best TED Talks on Education

25 Most Dangerous Places to Live in America

Top 10 Ski Resorts in the United States – 2014 List

Top 10 Most Remote Places in the World

Most Visited Museums in the United States

Wealthiest Photographers in the World

Most Famous Gay Athletes

The World’s Most Famous Circuses

Best Hair Stylists

Most Popular NASCAR Drivers

The Best Romance Movies of all Time

The Most Wanted Drug Lords

The Oldest Money Managers

The Greatest Directors in the World

Largest Animals in the World

World’s Most Expensive Desserts

Best Selling Comic Books of All Time

A-list Actors who Sabotaged Their Career

Rappers With a College Degree

The Best Jazz Albums of all Time

The Most Influential Jazz Musicians

The World’s Most Famous Photographers

The Best Oscar-Winning Songs

Most Influential Choreographers Ever

Most Expensive Department Stores in the World

The Most Expensive Stolen Paintings in the World

The World’s Most Expensive Teas

Top Oscar Record Holders

The Most Expensive Flowers in the World

Countries With a Booming Film Industry

Most Expensive Cupcakes in the World

Uncommon European Escapes

The Most Stolen Artists in History

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 129% in 2.5 years!! Wondering How?

Download a complete edition of our newsletter for free!