Amgen Non-GAAP EPS of $4.09 in-line, revenue of $6.8B beats by $30M
Amgen press release (NASDAQ:AMGN): Q4 Non-GAAP EPS of $4.09 in-line.
Revenue of $6.8B (-0.1% Y/Y)  beats by $30M.
Q4 revenues benefited from a 4% increase in product sales, offset by lower Other Revenue from our COVID-19 manufacturing collaboration. Product sales growth was driven by 10% volume growth, partially offset by 3% lower net selling price and 2% negative impact from foreign exchange. Excluding the 2% negative impact of foreign exchange on product sales, total revenues increased 2%.

Volume growth of 10% included double-digit volume growth for a number of products including LUMAKRAS/LUMYKRAS (sotorasib), Nplate
(romiplostim), EVENITY (romosozumab-aqqg), Repatha (evolocumab), Parsabiv (etelcalcetide), AMGEVITA (adalimumab), KYPROLIS (carfilzomib), and Prolia
(denosumab).
Shares -0.8%.

For the full year 2023, excluding any contribution from the announced acquisition of Horizon Therapeutics, the Company expects:

Total revenues in the range of $26.0 billion to $27.2 billion vs. $27.07B consensus.
On a GAAP basis, EPS in the range of $13.16 to $14.41, and a tax rate in the range of 17.0% to 18.5%.
On a non-GAAP basis, EPS in the range of $17.40 to $18.60 vs. $18.25 consensus, and a tax rate in the range of 18.0% to 19.0%.
Capital expenditures to be approximately $925 million.
Share repurchases not to exceed $500 million.