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Unexpectedly positive Amgen reports 34% EPS growth with Q2 revenue up 13%

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Executive Summary

Amgen's stock price shot past the high end of its 52-week range in after-hours trading on 26 July when it announced year-over-year gains of 13% for second quarter 2012 revenue and 8% for product sales as well as a 34% jump in adjusted earnings per share (EPS) as the company prepares to step up R&D spending for later-stage assets in the pipeline.

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