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AMGEN REPORTS FIRST QUARTER RESULTS

 AMGEN REPORTS FIRST QUARTER RESULTS
 THOUSAND OAKS, Calif., April 21 /PRNewswire/ -- Amgen Inc.


(NASDAQ: AMGN) today announced its first quarter results for the period ended March 31, 1992. Total revenues were $220.2 million, compared with revenues of $139.5 million for the same quarter a year ago. Net income for this period was $63.2 million, or $0.43 per share, compared with a net income $36.9 million, or $0.26 per share, for the comparable period a year ago.
 "Amgen's first quarter performance was solid, reflecting several noteworthy achievements including a steady expansion in the use of EPOGEN(R) and NEUPOGEN(R), the approval and launch of NEUPOGEN in Canada and our debut on the Fortune 500," said Gordon Binder, Amgen chairman and chief executive officer.
 "Additional investments in basic R&D, grants and licensing agreements as well as progress in our product pipeline indicate we are on track for the future," Binder said.
 Amgen is a global pharmaceutical company that develops, manufactures and markets human pharmaceuticals based on advanced cellular and molecular biology.
 AMGEN INC.
 Condensed Consolidated Statements of Operations
 (In thousands, except per share data)
 (Unaudited)
 Three Months Ended
 March 31,
 1992 1991
 Revenues:
 Product sales $211,219 $133,635
 Corporate partner revenues 7,630 5,902
 Royalty income 1,335 ---
 Total revenues 220,184 139,537
 Operating expenses:
 Cost of sales 35,934 22,003
 Research and development 36,543 26,625
 Selling, general and administrative 61,854 38,876
 Total operating expenses 134,331 87,504
 Other income/(expense):
 Interest and other income 6,873 4,434
 Interest expense, net (49) (896)
 Equity in earnings of
 affiliated companies 3,399 1,325
 Total other income/(expense) 10,223 4,863
 Income before income taxes 96,076 56,896
 Provision for income taxes 32,828 20,025
 Net income $63,248 $36,871
 Earnings per share:
 Primary $0.43 $0.26
 Fully diluted $0.43 $0.26
 Shares used in calculation of:
 Primary earnings per share 147,939 141,615
 Fully diluted earnings per share 147,939 144,423
 AMGEN INC.
 Condensed Consolidated Balance Sheets
 (In thousands)
 (Unaudited)
 March 31, Dec. 31,
 1992 1991
 Assets
 Current assets:
 Cash and marketable securities $461,941 $377,771
 Trade receivables 96,634 88,191
 Inventories 44,982 40,169
 Deferred tax asset 68,304 68,304
 Other current assets 18,084 15,145
 Total current assets 689,945 589,580
 Property, plant and equipment-net 289,251 245,733
 Other non-current assets 41,406 30,218
 Total assets $1,020,602 $865,531
 Liabilities and Stockholders' Equity
 Current liabilities $308,381 $294,669
 Long-term debt 97,878 39,717
 Stockholders' equity 614,343 531,145
 Total liabilities and
 stockholders' equity $1,020,602 $865,531
 Shares outstanding 133,296 131,864
 -0- 4/21/92
 /CONTACT: Sarah H. Crampton (investor), 805-499-5725, ext. 3250, or Kimberly L. Dorsey (media), 805-499-5725, ext. 4367, both of Amgen/
 (AMGN) CO: Amgen Inc. ST: California IN: MTC SU: ERN


JL -- LA030 -- 0851 04/21/92 16:19 EDT
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