Amgen (AMGN) 8-K Condensed Consolidated Statements of Operations

Exhibit 99.1

Amgen Inc.

Condensed Consolidated Statements of Operations

(In millions, except per share data)

(Unaudited)

	Three Months Ended December 31,
	2005		2004
Revenues:
Product sales	$	3,168	$	2,778
Other revenues		103		131
Total revenues		3,271		2,909
Operating expenses:
Cost of sales (excludes amortization of acquired intangible assets presented below)		511		476
Research and development		661		617
Selling, general and administrative		911		816
Amortization of intangible assets		87		81
Total operating expenses		2,170		1,990
Operating income		1,101		919
Interest and other income, net		10		1
Income before income taxes		1,111		920
Provision for income taxes		287		231
Net income	$	824	$	689
Earnings per share:
Basic	$	0.67	$	0.55
Diluted (1)	$	0.66	$	0.53
Shares used in calculation of earnings per share:
Basic		1,229		1,263
Diluted (1)		1,243		1,310

(1) The following table presents the computations for diluted earnings per share (EPS) computed under the treasury stock and the “if-converted” methods:

	Three Months Ended December 31,
	2005			2004
Income (Numerator):
Net income for basic EPS	$	824		$	689
Adjustment for interest expense on convertible notes, net of tax		—	(A)		6
Net income for diluted EPS, after assumed conversion of convertible notes	$	824		$	695
Shares (Denominator):
Weighted-average shares for basic EPS		1,229			1,263
Effect of dilutive securities		14			12
Effect of convertible notes, after assumed conversion		—	(A)		35
Weighted-average shares for diluted EPS		1,243			1,310
Diluted earnings per share	$	0.66		$	0.53

(A) On May 6, 2005 and August 17, 2005, in connection with an exchange offer, the Company modified the terms of approximately 99 percent of our convertible notes then outstanding (the “Modified Convertible Notes”). As a result of certain of these modifications, if converted, the Modified Convertible Notes would be settled in 1) cash equal to the lesser of the accreted value of the Modified Convertible Notes at the conversion date or the conversion value, as defined, and 2) shares of common stock, if any, to the extent the conversion value exceeds the accreted value. Accordingly, the Modified Convertible Notes do not impact diluted earnings per share under the “if-converted” method but rather, they impact diluted earnings per share under the treasury stock method, and only to the extent that the conversion value exceeds the accreted value during any reporting period, requiring such difference, if any, to be potentially settled in shares of common stock.

Amgen Inc.

Product Sales Detail by Product and Geographic Region

(In millions)

(Unaudited)

	Three Months Ended December 31,
	2005		2004
Aranesp® - U.S.	$	579	$	449
Aranesp® - International		294		256
EPOGEN® - U.S.		626		697
Neulasta® - U.S.		519		394
NEUPOGEN® - U.S.		210		204
Neulasta® - International		104		75
NEUPOGEN® - International		95		105
Enbrel® - U.S.		645		545
Enbrel® - International		29		22
Sensipar® - U.S.		37		18
Sensipar® - International		14		1
Other product sales - U.S.		9		6
Other product sales - International		7		6
Total product sales	$	3,168	$	2,778
U.S.	$	2,625	$	2,313
International		543		465
	$	3,168	$	2,778

Amgen Inc.

Condensed Consolidated Balance Sheets

(In millions)

(Unaudited)

	December 31, 2005			December 31, 2004
Assets
Current assets:
Cash and marketable securities	$	5,255		$	5,808
Trade receivables, net		1,769			1,461
Inventories		1,258			888
Other current assets		953			1,013
Total current assets		9,235			9,170
Property, plant, and equipment, net		5,038			4,712
Intangible assets, net		3,742			4,033
Goodwill		10,495			10,525
Other assets		787			781
Total assets	$	29,297		$	29,221
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable and accrued liabilities	$	3,595		$	2,984
Convertible notes		1,759	(2)		1,173	(1)
Total current liabilities		5,354			4,157
Deferred tax liabilities		1,163			1,294
Convertible notes		—			1,739	(2)
Other long-term debt		2,198			2,198
Other non-current liabilities		131			128
Stockholders’ equity		20,451			19,705
Total liabilities and stockholders’ equity	$	29,297		$	29,221
Shares outstanding		1,224			1,260

(1) On March 2, 2005, as a result of certain holders of the Convertible notes exercising their March 1, 2005 put option, the Company repurchased $1,175 million, or approximately 40 percent, of the outstanding Convertible notes at their then-accreted value for cash. Accordingly, the Convertible notes repurchased were classified as current liabilities at December 31, 2004.

(2) Holders of the remaining outstanding Convertible notes may require the Company to purchase all or a portion of the notes on specific dates as early as March 1, 2006 at the original issuance price plus accrued original issue discount through the purchase date. Accordingly, as of December 31, 2005, the Convertible notes have been classified as current liabilities.