Amgen (NASDAQ:AMGN), a United States-based biopharmaceutical company, announced on Thursday, its financial results for 2019.

The company reported total revenues at USD23.4bn in 2019, down 2% compared to the year-ago period.

The firm generated USD8.5bn of free cash flow for 2019 compared to USD10.6bn in 2018.

GAAP EPS increased 2% to USD12.88 for the full year driven by lower weighted-average shares outstanding, offset partially by lower operating income.

Robert A Bradway, chairman and chief executive officer, said, 'We are entering a period of new product driven revenue growth. Heading into 2020, our capital allocation priorities are clear, and we look forward to several important clinical data readouts from our innovative pipeline this year.'