Moody's rates Amgen notes A3

Moody's Investors Service said it assigned a rating of A3 to the new senior unsecured note issuance of Amgen Inc.

The outlook is positive.

The proceeds will be used for general corporate purposes.

Amgen's success with Prolia remains an important factor for a rating upgrade with the osteoporosis launch underway and the pending FDA approval in oncology indications, Moody's said.

The rating reflects strong profit margins and cash flow, excellent liquidity and solid operating performance, even in the face of competitive pressures, the agency said.

Risk factors include high product concentration risk, intensifying competitive threats and slower growth prospects for most core products, Moody's added.

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