Amgen (NASDAQ:AMGN) is expected to report Q4 earnings after the market close on Thursday, January 26 with a conference call scheduled for 5:00 pm ET. Analysts are looking for EPS of $1.22 on revenue of $3.91B. The consensus range is $1.07-$1.34 for EPS, and $3.8B-$4B for revenue, according to First Call.

After reporting better-than-expected EPS and revenue in Q3, it forecasted FY11 EPS $5.15-$5.30 vs. $5.33 consensus and FY11 revenue $15.4B-$15.6B vs. consensus $15.51B. At the JP Morgan Healthcare Conference earlier this month, Amgen said it expects FY12 EPS, revenue, and cash flow to grow and accelerate in FY12.

Looking forward, it expects to expand internationally and continue to buy back shares in the open market. In the previous quarter, it had purchased up to $5B in stock at a Dutch auction. Afterwards, Deutsche Bank said the buyback was not only ahead of schedule, but a postive catalyst for Amgen shares. The company had announced positive results for several drugs this past quarter, including Prolia and Nplate.

Amgen, however, halted its trial for Cebtibix due to inferior outcomes. Investors will be looking to hear more details and color on the recently-announced acquisition of Micromet for $1.16B as well as the succession plan of CEO Kevin Sharer. They may also ask about rumors that say the company may be looking to buy Biogen (NASDAQ:BIIB).

Amgen was downgraded to Market Perform at Leerink and BMO Campital, and downgraded to Neutral at Piper Jaffray and JP Morgan. Goldman, however, upgraded the company to Neutral following the change in management announcement.

Competitors to Watch: Johnson & Johnson (NYSE:JNJ), Pfizer Inc. (NYSE:PFE), Biogen Idec Inc. (NASDAQ:BIIB), GlaxoSmithKline plc (NYSE:GSK), Affymax, Inc. (NASDAQ:AFFY), Genzyme Corporation (NASDAQ:GENZ), Novartis AG (NYSE:NVS), 3SBio Inc. (NASDAQ:SSRX), and NPS Pharmaceuticals, Inc. (NASDAQ:NPSP).

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To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com

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