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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.

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