Plus   Neg

Amgen Boosts FY19 Outlook After Otezla Acquisition - Quick Facts

Amgen (AMGN) on Thursday raised its adjusted earnings and revenue guidance for the full-year 2019 following the completion of the Otezla acquisition on Wednesday. Otezla, along with certain related assets and liabilities, was acquired for $13.4 billion in cash, or about $11.2 billion, net of the present value of $2.2 billion in anticipated future cash tax benefits.

For fiscal 2019, the company currently projects earnings adjusted earnings in a range of $14.50 to $14.70 per share on total revenues between $23.1 billion and $23.3 billion.

Previously, the company expected adjusted earnings in the range of $14.20 to $14.45 per share on total revenues between $ $22.8 billion and $23.0 billion.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $2.79 per share on revenues of $24.85 billion for the year. Analysts' estimates typically exclude special items.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The former chief executive officer of Hertz Global Holdings, Mark Frissora, agreed to pay about $2.2 million to settle the U.S. Securities and Exchange Commission's claims that he played a key role in causing the now-bankrupt car-rental company to file inaccurate financial statements in 2013. Daimler AG, the maker of Mercedes-Benz cars, said Thursday that it has agreed to pay more than $2.2 billion to settle U.S. claims over emissions from its diesel vehicles. A new class-action lawsuit filed against Facebook accuses the company's photo and video-sharing app Instagram of illegally collecting biometric data of as many as 100 million users without their consent, according to reports. The lawsuit filed in a state court in California, alleges that Instagram uses its photo-tagging technology to create a database of users' facial features.
Follow RTT