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Fitch affirms Amgen's long-term issuer default rating

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Fitch affirms Amgen's long-term issuer default rating

Fitch Ratings affirmed Amgen Inc.'s long-term issuer default rating at BBB.

The outlook on the rating is stable.

The ratings apply to $36.7 billion of debt outstanding at Sept. 30.

Fitch said Amgen's BBB rating reflects the smaller and less diversified nature of the company's operating profile comparative to larger innovative industry peers, Pfizer Inc. and Merck & Co. Inc.