Amgen swings to a loss in Q4 after $6B hit from tax reform

Shares in Amgen (NSDQ:AMGN) rose slightly today after the biotech missed expectations on Wall Street with its fourth-quarter earnings, but topped EPS estimates for the year ahead. The Thousand Oaks, Calif.-based company swung to a net loss in Q4 thanks to a $6 billion tax charge, posting -$4.26 billion on sales of $5.8 billion in the 3 months ended Dec. 31, for a sales loss of -3% compared with the same period last year. Get the full story at our sister site, Drug Delivery Business News. The post Amgen swings to a loss in Q4 after $6B hit from tax reform appeared first on MassDevice.
Source: Mass Device - Category: Medical Devices Authors: Tags: Biotech Drug-Device Combinations MassDevice Earnings Roundup Pharmaceuticals Wall Street Beat Amgen Source Type: news