Amgen said total revenues for Q4 2023 rose 20% year over year to $8.2 billion, and full-year total revenues rose 7% to $28.2 billion. It said product sales for Q4 increased 20%, reflecting 23% volume growth partially offset by 3% lower net selling price.

1. 01

   Amgen said total revenues for Q4 2023 rose 20% year over year to $8.2 billion, and full-year total revenues rose 7% to $28.2 billion. It said product sales for Q4 increased 20%, reflecting 23% volume growth partially offset by 3% lower net selling price.

2. 02

   The company said the results included $954 million of sales from October 6 to December 31 following its acquisition of Horizon Therapeutics. It said that excluding these sales, product sales for Q4 grew 5% and volume grew 9%.

3. 03

   The company said GAAP earnings per share for Q4 fell 53% from $3.00 to $1.42, reflecting acquisition-related expenses and incremental operating expenses from Horizon. In the same quarter, non-GAAP earnings per share rose 15% from $4.09 to $4.71.

4. 04

   The company said free cash flow for 2023 was $7.4 billion, down from $8.8 billion in 2022. It cited transaction expenses related to the Horizon acquisition and higher repatriation tax payments as the reasons for the decrease.

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Original filing

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