Amgen Updates Guidance - Quick Facts

(RTTNews) - Amgen (AMGN) announced, for the full year 2019, the company now expects: non-GAAP earnings per share in the range of $14.20 to $14.45. Previously, the company expected non-GAAP EPS in the range of $13.75 to $14.30. Total revenues are currently projected in the range of $22.8 billion to $23.0 billion. Previously, the company expected total revenues in the range of $22.4 billion to $22.9 billion.

Analysts polled by Thomson Reuters expect the company to report profit per share of $14.39 on revenue of $22.85 billion. Analysts' estimates typically exclude special items.

For the third-quarter, non-GAAP EPS decreased 1 percent to $3.66 as a result of lower revenue, offset partially by lower weighted-average shares outstanding. On average, 21 analysts polled by Thomson Reuters expected the company to report profit per share of $3.53, for the quarter.

Third-quarter total revenues decreased 3 percent to $5.7 billion in comparison to the third quarter of 2018, reflecting the impact of biosimilar and generic competition against key products. Analysts expected revenue of $5.63 billion, for the quarter. Total product sales decreased 1 percent.

Amgen expects to close the Otezla acquisition before the end of the fourth quarter.