Amgen's Full Year 2012 Revenues Increased 11 Percent To $17.3 Billion And Adjusted Earnings Per Share (EPS) Increased 22 Percent To $6.51

Wed Jan 23, 2013 4:02pm EST

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Full Year 2012 GAAP EPS Were $5.52
THOUSAND OAKS, Calif.,  Jan. 23, 2013  /PRNewswire/ -- Amgen (NASDAQ:AMGN) today
announced financial results for the fourth quarter and full year of 2012. Key
results include:

* For the full year, total revenues increased 11 percent to  $17,265 million,
with 9 percent product sales growth driven by strong performance across the
portfolio. Adjusted EPS grew 22 percent to  $6.51  due to 15 percent adjusted
operating income growth and lower shares outstanding.   
* For the fourth quarter, total revenues increased 11 percent to  $4,421
million, with product sales growing at the same rate. Adjusted EPS grew 16
percent to  $1.40  due to 11 percent adjusted operating income growth and lower
shares outstanding.   
* GAAP EPS were  $1.01  in the fourth quarter compared to  $1.08  a year ago,
and were  $5.52  for the full year compared to  $4.04  in 2011. Full year 2011
was negatively impacted by a previously disclosed charge for a legal settlement
reserve.  
* Free cash flow for the full year was  $5.2 billion  compared to  $4.5 billion 
in 2011.  
* The Company announced that it has initiated Phase 3 studies for AMG 145 in
subjects with high levels of low-density lipoprotein (LDL) cholesterol.

"We achieved strong operating performance in 2012 as we delivered for patients
and created value for shareholders," said  Robert A. Bradway, chairman and chief
executive officer at Amgen.  "We enter 2013 with good momentum, a broad
late-stage pipeline and a continued focus on building our business
internationally."

                                          Year-over-Year                         Year-over-Year                         
 $Millions, except EPS and percentages    Q4 '12       Q4 '11       YOY Δ    FY '12        FY '11        YOY Δ  
                                                                                                                
 Total Revenues                           $4,421       $3,973       11%      $17,265       $15,582       11%    
 Adjusted Net Income                      1,088        1,039        5%       5,119         4,858         5%     
 Adjusted EPS                             1.40         1.21         16%      6.51          5.33          22%    
                                                                                                                
 GAAP Net Income                          788          934          (16%)    4,345         3,683         18%    
 GAAP EPS                                 $1.01        $1.08        (6%)     $5.52         $4.04         37%    


References in this release to "adjusted" measures, measures presented "on an
adjusted basis" or to free cash flow refer to non-GAAP financial measures. 
These adjustments and other items are presented on the attached reconciliations.

  


Product Sales Performance

* Total product sales  increased 9 percent for the full year, driven by strong
performance across the portfolio.  Product sales increased 11 percent for the
fourth quarter of 2012 versus the fourth quarter of 2011 driven by Enbrel
(etanercept), XGEVA (denosumab) and Prolia (denosumab).  
* Combined Neulasta (pegfilgrastim) and  NEUPOGEN (Filgrastim) sales declined 1
percent for the fourth quarter of 2012 versus the fourth quarter of 2011, and
increased 3 percent for the full year.

* Global Neulasta sales for the fourth quarter of 2012 versus the fourth quarter
of 2011 were flat as price increases were offset by unit declines and
unfavorable inventory changes. Sales increased 4 percent for the full year
mainly due to price increases.  
* Global NEUPOGEN sales for the fourth quarter of 2012 versus the fourth quarter
of 2011 declined 3 percent driven by a decrease in unit demand from loss of
share to biosimilars in  Europe. Sales were flat for the full year as price
increases offset unit declines.

* ENBREL  sales for the fourth quarter of 2012 versus the fourth quarter of 2011
increased 23 percent driven by increases in the average net sales price and unit
demand. Sales increased 14 percent for the full year due mainly to price
increases and unit growth.  
* Aranesp (darbepoetin alfa) sales decreased 9 percent for the fourth quarter of
2012 versus the fourth quarter of 2011 and 11 percent for the full year due to
changes in practice patterns.  Sequentially, sales were down 2 percent.   
* EPOGEN (epoetin alfa) sales for the fourth quarter of 2012 versus the fourth
quarter of 2011 decreased 1 percent driven by a reduction in dose utilization,
offset largely by a reduction in customer discounts and favorable changes in
accounting estimates. Sales for the full year decreased 5 percent as unit
declines were offset partially by a reduction in customer discounts and
favorable changes in accounting estimates.  
* Sensipar/Mimpara (cinacalcet) sales increased 19 percent for the fourth
quarter of 2012 versus the fourth quarter of 2011 and 18 percent for the full
year due to unit growth and price increases.  
* Combined sales of  Vectibix (panitumumab) and  Nplate (romiplostim) increased
15 percent for the fourth quarter of 2012 versus the fourth quarter of 2011 and
17 percent for the full year due to unit growth.  
* XGEVA  sales increased 7 percent on a sequential basis and 113 percent for the
full year due to unit growth.  
* Prolia  sales increased 40 percent on a sequential basis and 133 percent for
the full year due to unit growth.

Product Sales Detail by Product and Geographic Region

 $Millions, except percentages    Q4 '12                      Q4 '11    YOY Δ  
                                  US      ROW     TOTAL     TOTAL     TOTAL  
                                                                             
 Neulasta®/ NEUPOGEN®             $1,026  $280    $1,306    $1,319    (1%)   
 Neulasta®                        775     219     994       998       0%     
 NEUPOGEN®                        251     61      312       321       (3%)   
 Enbrel®                          1,086   75      1,161     945       23%    
 Aranesp®                         187     302     489       538       (9%)   
 EPOGEN®                          479     0       479       486       (1%)   
 Sensipar® / Mimpara®             177     79      256       216       19%    
 Vectibix®                        30      61      91        87        5%     
 Nplate®                          57      44      101       80        26%    
 XGEVA®                           178     37      215       134       60%    
 Prolia®                          95      59      154       81        90%    
 Other                            0       85      85        21        *      
                                                                             
 Total product sales              $3,315  $1,022  $4,337    $3,907    11%    
                                                                             
 * Change in excess of 100%                                                  


 $Millions, except percentages    FY '12                        FY '11     YOY Δ  
                                  US       ROW     TOTAL      TOTAL      TOTAL  
                                                                                
 Neulasta®/ NEUPOGEN®             $4,214   $1,138  $5,352     $5,212     3%     
 Neulasta®                        3,207    885     4,092      3,952      4%     
 NEUPOGEN®                        1,007    253     1,260      1,260      0%     
 Enbrel®                          3,967    269     4,236      3,701      14%    
 Aranesp®                         782      1,258   2,040      2,303      (11%)  
 EPOGEN®                          1,941    0       1,941      2,040      (5%)   
 Sensipar® / Mimpara®             639      311     950        808        18%    
 Vectibix®                        122      237     359        322        11%    
 Nplate®                          214      154     368        297        24%    
 XGEVA®                           644      104     748        351        *      
 Prolia®                          292      180     472        203        *      
 Other                            0        173     173        58         *      
                                                                                
 Total product sales              $12,815  $3,824  $16,639    $15,295    9%     
                                                                                
 * Change in excess of 100%                                                     


Operating Expense and Tax Rate Analysis, on an Adjusted Basis

* Cost of Sales, excluding the impact of the  Puerto Rico  excise tax, increased
0.3 points to 14.7 percent in the fourth quarter of 2012 and increased 0.4
points to 14.4 percent for the full year due to product mix, offset partially by
manufacturing efficiencies and higher average net sales price.   
* Research & Development (R&D)  expenses increased 9 percent in the fourth
quarter of 2012 driven by later-stage clinical programs, primarily AMG 145 and
romosozumab (AMG 785). For the full year, R&D expenses increased 6 percent
driven by later-stage clinical programs, primarily AMG 145 and romosozumab (AMG
785), offset partially by reduced expenses associated with marketed product
support.  
* Selling, General & Administrative (SG&A)  expenses increased 13 percent in the
fourth quarter of 2012 driven by higher ENBREL profit share expenses and
international expansion.  ENBREL profit share expenses increased 27 percent to 
$414 million  in the fourth quarter.  For the full year, SG&A expenses increased
6 percent, driven primarily by higher ENBREL profit share expenses and
international expansion, offset partially by a favorable change to the estimated
U.S. healthcare reform federal excise fee. ENBREL profit share expenses
increased 16 percent to  $1,495 million  in 2012.

 $Millions, except percentages                                                                                               
 On an Adjusted Basis                                      Q4 '12    Q4 '11    YOY Δ        FY '12     FY '11    YOY Δ      
                                                                                                                          
 Cost of Sales                                              $727      $643      13%          $2,735     $2,345    17%        
            % of sales                                     16.8%     16.5%     0.3 pts      16.4%      15.3%     1.1 pts    
            % of sales (Excluding PR excise tax)           14.7%     14.4%     0.3 pts      14.4%      14.0%     0.4 pts    
 Research & Development                                     $917      $842      9%           $3,296     $3,116    6%         
            % of sales                                     21.1%     21.6%     (0.5) pts    19.8%      20.4%     (0.6) pts  
 Selling, General & Administrative                          $1,351    $1,199    13%          $4,717     $4,434    6%         
            % of sales                                     31.2%     30.7%     0.5 pts      28.3%      29.0%     (0.7) pts  
 TOTAL Operating Expenses                                   $2,995    $2,684    12%          $10,748    $9,895    9%         
 pts: percentage points                                                                                                       


* Tax Rate  increased by 1.8 points to 16.1 percent in the fourth quarter of
2012 due primarily to the unfavorable tax impact of changes in the
jurisdictional mix of income and expenses, as well as the benefit in the fourth
quarter of 2011 from the federal R&D tax credit which was not reinstated prior
to 2012 year-end. This increase was offset partially by the favorable resolution
of certain state tax matters related to prior years. For the full year, the
adjusted tax rate increased 1.6 points to 15.9 percent due primarily to the
federal R&D tax credit included in 2011 but not in 2012, the unfavorable tax
impact of changes in the jurisdictional mix of income and expenses, offset
partially by the favorable resolution of certain state tax matters related to
prior years.

                                                                                                                   
 On an Adjusted Basis                                  Q4 '12    Q4 '11    YOY Δ      FY '12    FY '11    YOY Δ    
                                                                                                                 
 Tax Rate                                               16.1%     14.3%     1.8 pts    15.9%     14.3%     1.6 pts  
 Tax Rate (Excluding PR excise tax credits)             20.3%     18.1%     2.2 pts    20.3%     19.2%     1.1 pts  
 pts: percentage points                                                                                            


Cash Flow and Balance Sheet Discussion

* The Company generated  $0.6 billion  of free cash flow in the fourth quarter
of 2012 versus  $1.4 billion  in the fourth quarter of 2011. The decrease was
driven by a  $0.8 billion  payment related to a previously disclosed legal
settlement. For the full year, free cash flow increased  $0.7 billion  to  $5.2
billion  driven by improved collections of receivables, termination of fixed to
floating interest rate swap agreements, and higher net income, offset partially
by the aforementioned legal settlement payment.  
* During the fourth quarter, Amgen repurchased approximately 14 million shares
of common stock at a total cost of  $1.2 billion  and at an average price of 
$86.56. This brings the total shares repurchased under its  $10 billion 
authorized stock repurchase program to 146 million at a total cost of  $9.7
billion  and at an average price of  $66.37. The Company previously announced a 
$2 billion  increase in share repurchase authorization by its Board of
Directors. Amgen expects that this increase will cover the Company's share
repurchase activity into 2014.  
* The Company previously announced that its Board of Directors declared a  $0.47
 per share dividend for the first quarter of 2013. The dividend will be paid on 
March 7, 2013, to all stockholders of record as of the close of business on 
Feb. 13, 2013. This represents a 31 percent increase from that paid in each of
the previous four quarters.

 $Billions, except shares                          Q4 '12       Q4 '11    YOY Δ     FY '12    FY '11    YOY Δ  
                                                                                                             
 Operating Cash Flow                                $0.8         $1.6      ($0.8)    $5.9      $5.1      $0.8   
 Capital Expenditures                               0.2          0.2       0.0       0.7       0.6       0.1    
 Free Cash Flow                                     0.6          1.4       (0.8)     5.2       4.5       0.7    
 Dividend Paid                                      0.3          0.2       0.1       1.1       0.5       0.6    
 Cost of Shares Repurchased                         1.2          5.2       (4.0)     4.7       8.3       (3.6)  
 Adjusted Avg. Diluted Shares (millions)            778          860       (82)      786       912       (126)  
                                                                                                             
 Cash Balance                                       24.1         20.6      3.5       24.1      20.6      3.5    
 Adjusted Debt Outstanding                          26.5         21.6      4.9       26.5      21.6      4.9    
 Stockholders' Equity                               19.1         19.0      0.1       19.1      19.0      0.1    
 Note: Numbers may not add due to rounding                                                                       


2013 Guidance

For the full year 2013, the Company expects:

* Total revenues  to be in the range of  $17.8 billion to $18.2 billion  and 
adjusted EPS  to be in the range of  $6.85 to $7.15.  
* Adjusted tax rate  to be in the range of 14 percent to 15 percent. This
reflects the impact of the foreign tax credit associated with the  Puerto Rico 
excise tax. Excluding the  Puerto Rico  excise tax, Amgen expects the adjusted
tax rate for 2013 to be in the range of 17 percent to 18 percent.  
* Capital expenditures  to be approximately  $700 million.

Product and Pipeline Update

* AMG 145:   The Company recently initiated Phase 3 studies in subjects with
high levels of LDL cholesterol.  
* Trebananib (AMG 386):   Enrollment has resumed for the Phase 3 study in
recurrent ovarian cancer that was previously suspended due to DOXIL® 
(doxorubicin HCl liposome injection) supply issues.  
* Aranesp:  The Company announced top-line results of the Phase 3 RED-HF® 
(Reduction of Events With Darbepoetin Alfa in Heart Failure) Trial.  
* deCODE Genetics:  The Company completed the acquisition of deCODE Genetics in 
December 2012.

Non-GAAP Financial Measures
The Adjusted non-GAAP (U.S. Generally Accepted Accounting Principles) financial
measures included above for the three and twelve months ended  Dec. 31, 2012 
and 2011 exclude, for the applicable periods, certain expenses related to
acquisitions, cost-savings initiatives, various legal proceedings, non-cash
interest expense associated with our convertible notes and certain other
adjustments, as applicable. These adjustments and other items are presented on
the attached reconciliations.

Management has presented its operating results in accordance with GAAP and on an
"adjusted" (or non-GAAP) basis and Free Cash Flow which is a non-GAAP financial
measure for the three and twelve months ended  Dec. 31, 2012  and 2011. In
addition, management has presented its outstanding debt in accordance with GAAP
and on an "adjusted" (or non-GAAP) basis as of  Dec. 31, 2012  and 2011. The
Company believes that the presentation of non-GAAP financial measures provides
useful supplementary information to and facilitates additional analysis by
investors. The Company uses these non-GAAP financial measures in connection with
its own budgeting and financial planning.  These non-GAAP financial measures are
in addition to, not a substitute for, or superior to, measures of financial
performance prepared in conformity with GAAP.  

About Amgen
Amgen discovers, develops, manufactures and delivers innovative human
therapeutics. A biotechnology pioneer since 1980, Amgen was one of the first
companies to realize the new science's promise by bringing safe, effective
medicines from lab to manufacturing plant to patient. Amgen therapeutics have
changed the practice of medicine, helping millions of people around the world in
the fight against cancer, kidney disease, rheumatoid arthritis, bone disease and
other serious illnesses. With a deep and broad pipeline of potential new
medicines, Amgen remains committed to advancing science to dramatically improve
people's lives. To learn more about our pioneering science and vital medicines,
visit  www.amgen.com. Follow us on  www.twitter.com/amgen.  

Forward-Looking Statements
This news release contains forward-looking statements that involve significant
risks and uncertainties, including those discussed below and others that can be
found in our Form 10-K for the year ended  Dec. 31, 2011, and in our periodic
reports on Form 10-Q and Form 8-K. Amgen is providing this information as of the
date of this news release and does not undertake any obligation to update any
forward-looking statements contained in this document as a result of new
information, future events or otherwise.   

No forward-looking statement can be guaranteed and actual results may differ
materially from those we project. The Company's results may be affected by our
ability to successfully market both new and existing products domestically and
internationally, clinical and regulatory developments (domestic or foreign)
involving current and future products, sales growth of recently launched
products, competition from other products (domestic or foreign) and difficulties
or delays in manufacturing our products. In addition, sales of our products are
affected by reimbursement policies imposed by third-party payers, including
governments, private insurance plans and managed care providers and may be
affected by regulatory, clinical and guideline developments and domestic and
international trends toward managed care and health care cost containment as
well as U.S. legislation affecting pharmaceutical pricing and reimbursement.
Government and others' regulations and reimbursement policies may affect the
development, usage and pricing of our products. Furthermore, our research,
testing, pricing, marketing and other operations are subject to extensive
regulation by domestic and foreign government regulatory authorities. We, or
others, could identify safety, side effects or manufacturing problems with our
products after they are on the market.  Our business may be impacted by
government investigations, litigation and product liability claims. If we fail
to meet the compliance obligations in the corporate integrity agreement between
us and the U.S. government, we could become subject to significant sanctions.
Further, while we routinely obtain patents for our products and technology, the
protection offered by our patents and patent applications may be challenged,
invalidated or circumvented by our competitors. We depend on third parties for a
significant portion of our manufacturing capacity for the supply of certain of
our current and future products and limits on supply may constrain sales of
certain of our current products and product candidate development. In addition,
we compete with other companies with respect to some of our marketed products as
well as for the discovery and development of new products. Discovery or
identification of new product candidates cannot be guaranteed and movement from
concept to product is uncertain; consequently, there can be no guarantee that
any particular product candidate will be successful and become a commercial
product. Further, some raw materials, medical devices and component parts for
our products are supplied by sole third-party suppliers. Our business
performance could affect or limit the ability of our Board of Directors to
declare a dividend or our ability to pay a dividend or repurchase our common
stock.

 Amgen Inc.                                                                                                                                                              
 Condensed Consolidated Statements of Income - GAAP                                                                                                                      
 (In millions, except per share data)                                                                                                                                    
 (Unaudited)                                                                                                                                                             
                                                                                                                                                               
                                                                                          Three months ended                      Years ended                      
                                                                                          December 31,                            December 31,                     
                                                                                          2012                2011              2012               2011        
 Revenues:                                                                                                                                                       
               Product sales                                                               $  4,337            $       3,907     $ 16,639           $ 15,295    
               Other revenues                                                              84                  66                626                287         
                                           Total revenues                                 4,421               3,973             17,265             15,582      
                                                                                                                                                               
 Operating expenses:                                                                                                                                             
               Cost of sales (excludes amortization of certain                                                                                                  
                                           acquired intangible assets presented below)    852                 656               2,918              2,427       
               Research and development                                                    938                 851               3,380              3,167       
               Selling, general and administrative                                         1,370               1,208             4,801              4,486       
               Amortization of certain acquired intangible assets                          73                  73                294                294         
               Other                                                                       100                 23                295                896         
                                           Total operating expenses                       3,333               2,811             11,688             11,270      
                                                                                                                                                               
 Operating income                                                                           1,088               1,162             5,577              4,312       
                                                                                                                                                               
 Interest expense, net                                                                      291                 195               1,053              610         
 Interest and other income, net                                                             126                 84                485                448         
                                                                                                                                                               
 Income before income taxes                                                                 923                 1,051             5,009              4,150       
                                                                                                                                                               
 Provision for income taxes                                                                 135                 117               664                467         
                                                                                                                                                               
 Net income                                                                                 $     788           $          934    $   4,345          $   3,683   
                                                                                                                                                               
 Earnings per share:                                                                                                                                             
               Basic                                                                       $    1.03           $         1.09    $     5.61         $     4.07  
               Diluted                                                                     $    1.01           $         1.08    $     5.52         $     4.04  
                                                                                                                                                               
 Average shares used in calculation                                                                                                                              
               of earnings per share:                                                                                                                           
               Basic                                                                       763                 854               775                905         
               Diluted                                                                     778                 861               787                912         
                                                                                                                                                               
                                                                                                                                                               


 Amgen Inc.                                                                                                                                  
 Condensed Consolidated Balance Sheets - GAAP                                                                                                
 (In millions)                                                                                                                               
 (Unaudited)                                                                                                                                 
                                                                                                                                       
                                                                             December 31,                 December 31,                 
                                                                             2012                         2011                         
 Assets                                                                                                                                 
 Current assets:                                                                                                                      
           Cash, cash equivalents and marketable securities                  $                 24,061     $                 20,641     
           Trade receivables, net                                            2,518                        2,896                        
           Inventories                                                       2,744                        2,484                        
           Other current assets                                              1,886                        1,572                        
                                   Total current assets                    31,209                       27,593                       
 Property, plant and equipment, net                                           5,326                        5,420                        
 Intangible assets, net                                                       3,968                        2,584                        
 Goodwill                                                                     12,662                       11,750                       
 Other assets                                                                 1,133                        1,524                        
 Total assets                                                                 $                 54,298     $                 48,871     
                                                                                                                                       
 Liabilities and Stockholders' Equity                                                                                                   
 Current liabilities:                                                                                                                   
           Accounts payable and accrued liabilities                          $                   5,608    $                   5,670    
           Current portion of long-term debt                                 2,495                        84                           
                                   Total current liabilities               8,103                        5,754                        
 Long-term debt                                                               24,034                       21,344                       
 Other non-current liabilities                                                3,101                        2,744                        
 Stockholders' equity                                                         19,060                       19,029                       
 Total liabilities and stockholders' equity                                   $                 54,298     $                 48,871     
                                                                                                          
 Shares outstanding                                                           756                          796                          
                                                                                                      


 Amgen Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
 GAAP to "Adjusted" Reconciliations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
 (In millions)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
 (Unaudited)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
                                                          Three months ended                                                                                                                                                                                                                                                                                                                                                                                                                                Years ended                                                                                                                                                                                                                                                                                                                                                                                                                                       
                                                          December 31,                                                                                                                                                                                                                                                                                                                                                                                                                                      December 31,                                                                                                                                                                                                                                                                                                                                                                                                                                      
                                                          2012                                                                                                                                                                                                                    2011                                                                                                                                                                                                                    2012                                                                                                                                                                                                                    2011                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
       GAAP cost of sales                                 $    852                                                                                                                                                                                                                $          656                                                                                                                                                                                                          $   2,918                                                                                                                                                                                                               $        2,427                                                                                                                                                                                                          
       Adjustments to cost of sales:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
       Certain charges pursuant to our continuing efforts (118)                                                                                                                                                                                                                   (11)                                                                                                                                                                                                                    (160)                                                                                                                                                                                                                   (65)                                                                                                                                                                                                                    
       to improve cost efficiencies in our operations  (a)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
       Acquisition-related expenses                       (4)                                                                                                                                                                                                                     -                                                                                                                                                                                                                       (11)                                                                                                                                                                                                                    (7)                                                                                                                                                                                                                     
       Stock option expense  (b)                          (3)                                                                                                                                                                                                                     (2)                                                                                                                                                                                                                     (12)                                                                                                                                                                                                                    (10)                                                                                                                                                                                                                    
       Total adjustments to cost of sales                 (125)                                                                                                                                                                                                                   (13)                                                                                                                                                                                                                    (183)                                                                                                                                                                                                                   (82)                                                                                                                                                                                                                    
       Adjusted cost of sales                             $    727                                                                                                                                                                                                                $          643                                                                                                                                                                                                          $   2,735                                                                                                                                                                                                               $        2,345                                                                                                                                                                                                          
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
       GAAP research and development expenses             $    938                                                                                                                                                                                                                $          851                                                                                                                                                                                                          $   3,380                                                                                                                                                                                                               $        3,167                                                                                                                                                                                                          
       Adjustments to research and development expenses:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
       Acquisition-related expenses                       (16)                                                                                                                                                                                                                    (1)                                                                                                                                                                                                                     (50)                                                                                                                                                                                                                    (28)                                                                                                                                                                                                                    
       Certain charges pursuant to our continuing efforts -                                                                                                                                                                                                                       -                                                                                                                                                                                                                       (12)                                                                                                                                                                                                                    -                                                                                                                                                                                                                       
       to improve cost efficiencies in our operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
       Reversal of previously accrued expenses for bonuses -                                                                                                                                                                                                                       -                                                                                                                                                                                                                       -                                                                                                                                                                                                                       12                                                                                                                                                                                                                      
       and stock-based compensation awards, which were                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
       forfeited as a result of the employees' termination                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
       pursuant to our continuing efforts to improve cost                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
       efficiencies in our operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
       Stock option expense  (b)                          (5)                                                                                                                                                                                                                     (8)                                                                                                                                                                                                                     (22)                                                                                                                                                                                                                    (35)                                                                                                                                                                                                                    
       Total adjustments to research and development      (21)                                                                                                                                                                                                                    (9)                                                                                                                                                                                                                     (84)                                                                                                                                                                                                                    (51)                                                                                                                                                                                                                    
       expenses                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
       Adjusted research and development expenses         $    917                                                                                                                                                                                                                $          842                                                                                                                                                                                                          $   3,296                                                                                                                                                                                                               $        3,116                                                                                                                                                                                                          
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
       GAAP selling, general and administrative expenses  $  1,370                                                                                                                                                                                                                $        1,208                                                                                                                                                                                                          $   4,801                                                                                                                                                                                                               $        4,486                                                                                                                                                                                                          
       Adjustments to selling, general and administrative                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
       expenses:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
       Acquisition-related expenses                       (14)                                                                                                                                                                                                                    (1)                                                                                                                                                                                                                     (59)                                                                                                                                                                                                                    (12)                                                                                                                                                                                                                    
       Stock option expense  (b)                          (5)                                                                                                                                                                                                                     (8)                                                                                                                                                                                                                     (25)                                                                                                                                                                                                                    (40)                                                                                                                                                                                                                    
       Total adjustments to selling, general and          (19)                                                                                                                                                                                                                    (9)                                                                                                                                                                                                                     (84)                                                                                                                                                                                                                    (52)                                                                                                                                                                                                                    
       administrative expenses                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
       Adjusted selling, general and administrative       $  1,351                                                                                                                                                                                                                $        1,199                                                                                                                                                                                                          $   4,717                                                                                                                                                                                                               $        4,434                                                                                                                                                                                                          
       expenses                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
       GAAP operating expenses                            $  3,333                                                                                                                                                                                                                $        2,811                                                                                                                                                                                                          $  11,688                                                                                                                                                                                                               $      11,270                                                                                                                                                                                                           
       Adjustments to operating expenses:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
       Adjustments to cost of sales                       (125)                                                                                                                                                                                                                   (13)                                                                                                                                                                                                                    (183)                                                                                                                                                                                                                   (82)                                                                                                                                                                                                                    
       Adjustments to research and development expenses   (21)                                                                                                                                                                                                                    (9)                                                                                                                                                                                                                     (84)                                                                                                                                                                                                                    (51)                                                                                                                                                                                                                    
       Adjustments to selling, general and administrative (19)                                                                                                                                                                                                                    (9)                                                                                                                                                                                                                     (84)                                                                                                                                                                                                                    (52)                                                                                                                                                                                                                    
       expenses                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
       Non-cash amortization of product technology rights (73)                                                                                                                                                                                                                    (73)                                                                                                                                                                                                                    (294)                                                                                                                                                                                                                   (294)                                                                                                                                                                                                                   
       acquired in a prior year business combination                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
       Certain charges pursuant to our continuing efforts (69)                                                                                                                                                                                                                    (30)                                                                                                                                                                                                                    (175)                                                                                                                                                                                                                   (109)                                                                                                                                                                                                                   
       to improve cost efficiencies in our operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
       Acquisition-related expenses                       (6)                                                                                                                                                                                                                     -                                                                                                                                                                                                                       (25)                                                                                                                                                                                                                    -                                                                                                                                                                                                                       
       (Expense)/benefit resulting from changes in the    (26)                                                                                                                                                                                                                    8                                                                                                                                                                                                                       (31)                                                                                                                                                                                                                    (1)                                                                                                                                                                                                                     
       estimated fair values of the contingent                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
       consideration obligations related to a prior year                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
       business combination                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
       Benefit/(expenses) related to various legal        1                                                                                                                                                                                                                       (1)                                                                                                                                                                                                                     (64)                                                                                                                                                                                                                    (786)                                                                                                                                                                                                                   
       proceedings                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
       Total adjustments to operating expenses            (338)                                                                                                                                                                                                                   (127)                                                                                                                                                                                                                   (940)                                                                                                                                                                                                                   (1,375)                                                                                                                                                                                                                 
       Adjusted operating expenses                        $  2,995                                                                                                                                                                                                                $        2,684                                                                                                                                                                                                          $  10,748                                                                                                                                                                                                               $        9,895                                                                                                                                                                                                          
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
       GAAP operating income                              $  1,088                                                                                                                                                                                                                $        1,162                                                                                                                                                                                                          $   5,577                                                                                                                                                                                                               $        4,312                                                                                                                                                                                                          
       Adjustments to operating expenses                  338                                                                                                                                                                                                                     127                                                                                                                                                                                                                     940                                                                                                                                                                                                                     1,375                                                                                                                                                                                                                   
       Adjusted operating income                          $  1,426                                                                                                                                                                                                                $        1,289                                                                                                                                                                                                          $   6,517                                                                                                                                                                                                               $        5,687                                                                                                                                                                                                          
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
       GAAP income before income taxes                    $    923                                                                                                                                                                                                                $        1,051                                                                                                                                                                                                          $   5,009                                                                                                                                                                                                               $        4,150                                                                                                                                                                                                          
       Adjustments to income before income taxes:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
       Adjustments to operating expenses                  338                                                                                                                                                                                                                     127                                                                                                                                                                                                                     940                                                                                                                                                                                                                     1,375                                                                                                                                                                                                                   
       Non-cash interest expense associated with our      36                                                                                                                                                                                                                      34                                                                                                                                                                                                                      140                                                                                                                                                                                                                     143                                                                                                                                                                                                                     
       convertible notes                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
       Total adjustments to income before income taxes    374                                                                                                                                                                                                                     161                                                                                                                                                                                                                     1,080                                                                                                                                                                                                                   1,518                                                                                                                                                                                                                   
       Adjusted income before income taxes                $  1,297                                                                                                                                                                                                                $        1,212                                                                                                                                                                                                          $   6,089                                                                                                                                                                                                               $        5,668                                                                                                                                                                                                          
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
       GAAP provision for income taxes                    $    135                                                                                                                                                                                                                $          117                                                                                                                                                                                                          $      664                                                                                                                                                                                                              $          467                                                                                                                                                                                                          
       Adjustments to provision for income taxes:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
       Income tax effect of the above adjustments  (c)    97                                                                                                                                                                                                                      56                                                                                                                                                                                                                      329                                                                                                                                                                                                                     331                                                                                                                                                                                                                     
       Income tax net expense/(benefit) related to certain (23)                                                                                                                                                                                                                    -                                                                                                                                                                                                                       (23)                                                                                                                                                                                                                    12                                                                                                                                                                                                                      
       prior period items excluded from "Adjusted"                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
       earnings                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
       Total adjustments to provision for income taxes    74                                                                                                                                                                                                                      56                                                                                                                                                                                                                      306                                                                                                                                                                                                                     343                                                                                                                                                                                                                     
       Adjusted provision for income taxes                $    209                                                                                                                                                                                                                $          173                                                                                                                                                                                                          $      970                                                                                                                                                                                                              $          810                                                                                                                                                                                                          
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
       GAAP net income                                    $    788                                                                                                                                                                                                                $          934                                                                                                                                                                                                          $   4,345                                                                                                                                                                                                               $        3,683                                                                                                                                                                                                          
       Adjustments to income before income taxes, net of  277                                                                                                                                                                                                                     105                                                                                                                                                                                                                     751                                                                                                                                                                                                                     1,187                                                                                                                                                                                                                   
       the tax effect of the above adjustments                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
       Income tax net expense/(benefit) related to certain 23                                                                                                                                                                                                                      -                                                                                                                                                                                                                       23                                                                                                                                                                                                                      (12)                                                                                                                                                                                                                    
       prior period items excluded from "Adjusted"                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
       earnings                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
       Adjusted net income                                $  1,088                                                                                                                                                                                                                $        1,039                                                                                                                                                                                                          $   5,119                                                                                                                                                                                                               $        4,858                                                                                                                                                                                                          
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
 Amgen Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
 GAAP to "Adjusted" Reconciliations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
 (In millions, except per share data)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
 (Unaudited)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
       The following table presents the computations for GAAP and "Adjusted" diluted EPS, computed under the treasury stock method.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
       "Adjusted" EPS presented below excludes stock option expense:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
                                                          Three months ended                                                                                                                                                                                                                                                                                                                                                                                                                                Three months ended                                                                                                                                                                                                                                                                                                                                                                                                                                
                                                          December 31, 2012                                                                                                                                                                                                                                                                                                                                                                                                                                 December 31, 2011                                                                                                                                                                                                                                                                                                                                                                                                                                 
                                                          GAAP                                                                                                                                                                                                                    "Adjusted"                                                                                                                                                                                                              GAAP                                                                                                                                                                                                                    "Adjusted"                                                                                                                                                                                                              
       Income (Numerator):                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
       Net income for basic and diluted EPS               $    788                                                                                                                                                                                                                $        1,088                                                                                                                                                                                                          $      934                                                                                                                                                                                                              $        1,039                                                                                                                                                                                                          
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
       Shares (Denominator):                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
       Weighted-average shares for basic EPS              763                                                                                                                                                                                                                     763                                                                                                                                                                                                                     854                                                                                                                                                                                                                     854                                                                                                                                                                                                                     
       Effect of dilutive securities                      15                                                                                                                                                                                                                      15                                                                                                          (*)                                                                                                         7                                                                                                                                                                                                                       6                                                                                                           (*)                                                                                                         
       Weighted-average shares for diluted EPS            778                                                                                                                                                                                                                     778                                                                                                                                                                                                                     861                                                                                                                                                                                                                     860                                                                                                                                                                                                                     
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
       Diluted EPS                                        $   1.01                                                                                                                                                                                                                $         1.40                                                                                                                                                                                                          $     1.08                                                                                                                                                                                                              $         1.21                                                                                                                                                                                                          
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
                                                          Year ended                                                                                                                                                                                                                                                                                                                                                                                                                                        Year ended                                                                                                                                                                                                                                                                                                                                                                                                                                        
                                                          December 31, 2012                                                                                                                                                                                                                                                                                                                                                                                                                                 December 31, 2011                                                                                                                                                                                                                                                                                                                                                                                                                                 
                                                          GAAP                                                                                                                                                                                                                    "Adjusted"                                                                                                                                                                                                              GAAP                                                                                                                                                                                                                    "Adjusted"                                                                                                                                                                                                              
       Income (Numerator):                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
       Net income for basic and diluted EPS               $  4,345                                                                                                                                                                                                                $        5,119                                                                                                                                                                                                          $   3,683                                                                                                                                                                                                               $        4,858                                                                                                                                                                                                          
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
       Shares (Denominator):                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
       Weighted-average shares for basic EPS              775                                                                                                                                                                                                                     775                                                                                                                                                                                                                     905                                                                                                                                                                                                                     905                                                                                                                                                                                                                     
       Effect of dilutive securities                      12                                                                                                                                                                                                                      11                                                                                                          (*)                                                                                                         7                                                                                                                                                                                                                       7                                                                                                           (*)                                                                                                         
       Weighted-average shares for diluted EPS            787                                                                                                                                                                                                                     786                                                                                                                                                                                                                     912                                                                                                                                                                                                                     912                                                                                                                                                                                                                     
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
       Diluted earnings per share                         $   5.52                                                                                                                                                                                                                $         6.51                                                                                                                                                                                                          $     4.04                                                                                                                                                                                                              $         5.33                                                                                                                                                                                                          
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
       (*)  Dilutive securities used to compute "Adjusted" diluted EPS for the three months and years ended December 31, 2012 and 2011 were computed under the treasury stock method assuming that we do not expense stock options.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
 (a)   The adjustments during the years ended 2012 and 2011 include incremental expenses resulting from our transaction with Boehringer Ingelheim.  The adjustment  during the three months ended December 31, 2012, relates to a charge in connection with the rationalization of our worldwide manufacturing operations.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
 (b)   For the three months and years ended December 31, 2012 and 2011, the total pre-tax expense for employee stock options was $13 million and $59 million, respectively and $18 million and $85 million, respectively.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
       "Adjusted" diluted EPS including the impact of stock option expense for the three months and years ended December 31, 2012 and 2011 was as follows:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
                                                          Three months ended                                                                                                                                                                                                                                                                                                                                                                                                                                Years ended                                                                                                                                                                                                                                                                                                                                                                                                                                       
                                                          December 31,                                                                                                                                                                                                                                                                                                                                                                                                                                      December 31,                                                                                                                                                                                                                                                                                                                                                                                                                                      
                                                          2012                                                                                                                                                                                                                    2011                                                                                                                                                                                                                    2012                                                                                                                                                                                                                    2011                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
       "Adjusted" diluted EPS, excluding stock option     $   1.40                                                                                                                                                                                                                $         1.21                                                                                                                                                                                                          $     6.51                                                                                                                                                                                                              $         5.33                                                                                                                                                                                                          
       expense                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
       Impact of stock option expense (net of tax)        (0.01)                                                                                                                                                                                                                  (0.02)                                                                                                                                                                                                                  (0.06)                                                                                                                                                                                                                  (0.07)                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
       "Adjusted" diluted EPS, including stock option     $   1.39                                                                                                                                                                                                                $         1.19                                                                                                                                                                                                          $     6.45                                                                                                                                                                                                              $         5.26                                                                                                                                                                                                          
       expense                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
 (c)   The tax effect of the adjustments between our GAAP and "Adjusted" results takes into account the tax treatment and related tax rate(s) that apply to each adjustment in the  applicable tax jurisdiction(s).  Generally, this results in a tax impact at the U.S. marginal tax rate for certain adjustments, including amortization of intangible assets and non-cash interest expense associated with our convertible notes, whereas the tax impact of other adjustments, including stock option expense, depends on whether the amounts are  deductible in the tax jurisdictions where the expenses are incurred or the asset is located and the applicable tax rate(s) in those jurisdictions. Due to these factors, the effective  tax rates for the adjustments to our GAAP income before income taxes, for the three months and years ended December 31, 2012, were 25.9% and 30.5%, respectively,  compared with 34.8% and 21.8% for the            
       corresponding periods of the prior year.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
       
       
       
       
       


 Amgen Inc.                                                                                                                                                                                                                                                                 
 Reconciliation of GAAP Debt Outstanding to "Adjusted" Debt Outstanding                                                                                                                                                                                                     
 (In millions)                                                                                                                                                                                                                                                              
 (Unaudited)                                                                                                                                                                                                                                                                
                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                            
                                               GAAP                                Adjustments for accounting standard (a)                  "Adjusted"                                                                                                            
                                                                                                                                                                                                                                                                  
     December 31, 2011                         $           21,428                  $                  154                                   $           21,582                                                                                                    
     December 31, 2012                         $           26,529                  $                    12                                  $           26,541                                                                                                    
                                                                                                                                                                                                                                                                           
 (a)          To exclude the impact of bifurcating the debt and equity components of our convertible notes as required by U.S. accounting standards  for these securities commencing in 2009.                                                                              
              


 Reconciliation of Free Cash Flow                                                                                                                                  
 (In millions)                                                                                                                                                     
 (Unaudited)                                                                                                                                                       
                                                                                                                                                           
                                      Three months ended                                                  Years ended                                          
                                      December 31,                                                        December 31,                                         
                                      2012                                  2011                        2012                         2011                  
   Cash Flows from Operations         $                       812           $                  1,584    $              5,882         $              5,119  
   Capital Expenditures               (200)                                 (224)                       (689)                        (567)                 
   Free Cash Flow                     $                       612           $                  1,360    $              5,193         $              4,552  
                                                                                                                                                           


 Amgen Inc.                                                                                                                                                                                                                                              
 Reconciliation of GAAP EPS Guidance to "Adjusted"                                                                                                                                                                                                       
 EPS Guidance for the Year Ending December 31, 2013                                                                                                                                                                                                      
 (Unaudited)                                                                                                                                                                                                                                             
                                                                                                                                                                                                                                             
                                                                                                                                                                                                                                               
                                                                                                                            2013                                                                                                                 
                                                                                                                                                                                                                                               
 GAAP EPS (diluted) guidance                                                                                                $        6.46  -            $        6.76                                                                          
                                                                                                                                                                                                                                               
 Known adjustments to arrive at "Adjusted" earnings*:                                                                                                                                                                                          
                                  Amortization of acquired intangible assets                           (a)                 0.34                                                                                                                 
                                  Stock option expense                                                 (b)                 0.04                                                                                                                 
                                  Non-cash interest expense associated with our convertible notes      (c)                 0.01                                                                                                                 
                                                                                                                                                                                                                                               
 "Adjusted" EPS (diluted) guidance                                                                                          $        6.85  -            $        7.15                                                                          
                                                                                                                                                                                                                                                        
 *                                The known adjustments are presented net of their related aggregate tax impact of approximately $0.19 per share.                                                                                                       
                                                                                                                                                                                                                                                        
 (a)                              To exclude the non-cash amortization of intangible assets acquired in prior year business combinations.                                                                                                               
                                                                                                                                                                                                                                                        
 (b)                              To exclude stock option expense.                                                                                                                                                                                      
                                                                                                                                                                                                                                                        
 (c)                              To exclude the non-cash interest expense associated with our convertible notes.                                                                                                                                       
                                                                                                                                                                                                                                                        
                                                                                                                                                                                                                                                         
 Reconciliation of GAAP Tax Rate Guidance to "Adjusted"                                                                                                                                                                                                  
 Tax Rate Guidance for the Year Ending December 31, 2013                                                                                                                                                                                                 
 (Unaudited)                                                                                                                                                                                                                                             
                                                                                                                                                                                                                                                         
                                                                                                                            2013 with PR excise tax credit                           2013 without PR excise tax credit                               
                                                                                                                                                                                                                                               
 GAAP tax rate guidance                                                                                                      12.5%          -            13.6%                                  15.8%       -           16.9%                   
                                                                                                                                                                                                                                               
                                  Tax rate effect of known adjustments discussed above                                      1.5%           -            1.4%                                   1.2%        -           1.1%                    
                                                                                                                                                                                                                                               
 "Adjusted" tax rate guidance                                                                                                14.0%          -            15.0%                                  17.0%       -           18.0%                   
                                                                                                                                                                                                                                               


CONTACT: Amgen,  Thousand Oaks
Ashleigh Koss, 805-313-6151 (media)
Arvind Sood, 805-447-1060 (investors)

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SOURCE  Amgen

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