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2Q EARNINGS: Amgen cutting up to 2,900 jobs to reinvest in pipeline

This article was originally published in Scrip

Executive Summary

Amgen's second quarter sales and earnings significantly beat market consensus expectations, but the financial report was overshadowed by news that the company will cut 2,400 to 2,900 jobs and reinvest the money saved into products that may be approved in 2015.

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