8-KOther Events

AMGEN INC 8-K Report (Jul 25, 2003)

Filed July 25, 2003For Securities:AMGN

Summary

Amgen Inc. (AMGN) filed an 8-K on July 25, 2003, to announce its financial results for the three and six months ended June 30, 2003. The filing primarily serves to furnish a press release detailing these results, including both GAAP and non-GAAP financial measures. The company emphasized its use of non-GAAP measures to provide investors with a clearer view of operational performance by excluding certain items that may distort comparability across periods. Key adjustments made in the non-GAAP reporting include the exclusion of items related to the acquisition of Immunex Corporation, a recovery of costs from an arbitration with Johnson & Johnson, and a cash contribution to the Amgen Foundation. Amgen believes these adjustments offer a more insightful perspective on its core operating performance and profitability, particularly concerning the amortization of acquired intangible assets like Enbrel. Investors should review these non-GAAP figures alongside GAAP results to form a comprehensive understanding of the company's financial health.

Key Highlights

  • 1Amgen released its financial results for the second quarter and first half of 2003 via an 8-K filing, attaching a press release dated July 22, 2003.
  • 2The company provided both GAAP and non-GAAP financial measures to offer investors supplemental insights into its performance.
  • 3Non-GAAP adjustments were made to exclude costs related to the acquisition of Immunex Corporation, including specific employee retention plans.
  • 4The reporting also excluded a cost recovery from an arbitration with Johnson & Johnson and a cash contribution to the Amgen Foundation.
  • 5Amgen adjusted for amortization of acquired intangible assets, notably related to Enbrel, to present a view comparable to internally developed assets.
  • 6These non-GAAP measures are used by Amgen for internal budgeting and financial planning, aiming to facilitate period-over-period comparisons.
  • 7The filing specifies that information furnished under Regulation FD is not deemed 'filed' for the purposes of Section 18 of the Exchange Act.

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