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Tuesday, January 11, 2011

Amgen CEO sees higher-than-expected 2010 EPS, (NASDAQ: AMGN)

Amgen Inc's (AMGN.O) chief executive said on Tuesday that 2010 profit would be higher than the company had previously forecast, but that the cost of healthcare reform in 2011 could reach $500 million. Kevin Sharer, speaking to investors at the JP Morgan Healthcare conference, said 2010 earnings would be "somewhat above the middle" of its forecast range of $5.05 to $5.25 per share. The company had previously cautioned that earnings for last year would come in toward the low end of its forecast range. Analysts on average are estimating $5.12 per share, according to Thomson Reuters I/B/E/S.