Amgen Invests In Deals, Share Buybacks And Manufacturing As Sales Dip

Amgen reported reduced revenue for 2017 and its 2018 guidance anticipates either flat sales or further decline, so the company is under increasing pressure to spend its $41.7bn in cash in ways that boost earnings, but $14.4bn already is committed to buying stock back from shareholders.

Business decline

Amgen Inc. plans to put its $41.7bn in cash as of the end of 2017 to work in 2018 in ways that may boost future earnings and "shareholder value," seeking acquisitions of drugs or companies that can help reverse the big biotech's flat to declining revenue trend.

There are not a lot of commercial-stage products for sale, so Amgen more than likely will purchase pipeline assets that...

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