Amgen Inc. is grappling with a potential tax bill exceeding $7 billion as the IRS proposes significant adjustments to their taxable income from 2010 to 2015, causing investor anxiety reflected in a 5.4% drop in share price. Despite these challenges, the biopharmaceutical firm reported strong first-quarter earnings of $4.25 per share and revenue of $6.2 billion, surpassing market expectations. The company aims to consolidate ongoing tax court cases while addressing disputes over profit accounting from its Puerto Rico operations.
“Amgen · pays · dividend yield · 3.1%”
“Amgen · market cap · value · $136 billion”
“Amgen · total revenue generated · last year · $26 billion”
“Amgen · has · tax disclosure”
“Amgen · reported first-quarter 2022 earnings · earnings per share · $4.25”
“Amgen · maintained its guidance for revenue · in the range of · $25.4 billion to $26.5 billion”
“Amgen · expects adjusted cost of sales · to be · 15.5% to 16.5%”
“Amgen · expects operating margin · to be · roughly 50%”
“IRS · issued a deficiency notice to Amgen · proposing adjustments for the 2010-15 period · approximately $5.1 billion-plus interest”
“Amgen · has a Zacks Rank · #3 (Hold)”
“Pomerantz LLP · is investigating · claims on behalf of investors of Amgen Inc.”
“Amgen · disclosed · a notice of deficiency from the IRS · on April 18, 2022”
