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Amgen’s First Quarter 2010 Adjusted Earnings Per Share Increased 20 Percent to $1.30

Thursday, April 22, 2010 General News J E 4
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First Quarter 2010 Revenue Increased 9 Percent to $3.6 Billion

Amgen Inc.

Reconciliation of GAAP Earnings Per Share Guidance to "Adjusted"

Earnings Per Share Guidance for the Year Ending December 31, 2010

(Unaudited)

The following table shows a reconciliation of GAAP earnings per share (diluted) guidance to “Adjusted” earnings per share (diluted)

guidance.  On April 21, 2010, the Company announced “Adjusted” earnings per share guidance, including an anticipated impact of

$200 million to $250 million due to U.S. Health Care Reform, now expected towards lower end of current guidance range of $5.05–$5.25.

2010

GAAP earnings per share (diluted) guidance

$ 4.56

-

$ 4.78

Known adjustments to arrive at "Adjusted" earnings*:

Amortization of acquired intangible assets, product technology rights

(a)

0.19

Incremental non-cash interest expense

(b)

0.17

Stock option expense

(c)

0.06

-

0.08

Amortization of acquired intangible assets, R&D technology rights

(d)

0.05

"Adjusted" earnings per share (diluted) guidance

$ 5.05

-

$ 5.25

*

The known adjustments are presented net of their related aggregate tax impact of approximately $0.27 to $0.28 per share.

(a)

To exclude the ongoing, non-cash amortization of acquired product technology rights, primarily ENBREL, related to

the Immunex acquisition.

(b)

To exclude the incremental non-cash interest expense resulting from a change in accounting in January 2009

related to our convertible debt.

(c)

To exclude stock option expense.

(d)

To exclude the ongoing, non-cash amortization of the R&D technology intangible assets acquired with the Abgenix

and Avidia acquisitions.

Amgen Inc.

Reconciliation of GAAP Tax Rate Guidance to "Adjusted"

Tax Rate Guidance for the Year Ending December 31, 2010

(Unaudited)

2010

GAAP tax rate guidance

17.7%

-

19.0%

Tax rate effect of known adjustments discussed above

2.0%

-

2.3%

"Adjusted" tax rate guidance

20.0%

-

21.0%

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