Amgen swings to a loss in Q4 after $6B hit from tax reform

Shares in Amgen (NSDQ:AMGN) rose slightly today after the biotech missed expectations on Wall Street with its fourth-quarter earnings, but topped EPS estimates for the year ahead.

The Thousand Oaks, Calif.-based company swung to a net loss in Q4 thanks to a $6 billion tax charge, posting -$4.26 billion on sales of $5.8 billion in the 3 months ended Dec. 31, for a sales loss of -3% compared with the same period last year.

Get the full story at our sister site, Drug Delivery Business News.

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