Financial Data and Key Metrics Changes - Revenue grew 9% year over year, reaching $8.1 billion, with volume growth of 14% reflecting increased patient demand for innovative medicines [4][49] - Non-GAAP operating expenses rose 4%, with R&D expenses increasing by 12% year over year [50] - Non-GAAP operating margin was 45.7%, above previous guidance due to timing of R&D spending [50] Business Line Data and Key Metrics Changes - General Medicine saw Repatha sales increase by 27% year over year, generating $656 million in Q1 [18] - Rare Disease portfolio grew 3% year over year, delivering $1 billion in sales, with TEPEZZA and KRYSTEXXA impacted by U.S. wholesaler inventory changes [23] - Oncology portfolio generated over $2 billion in sales, growing 10% year over year, driven by the bispecific T cell engager platform [28] Market Data and Key Metrics Changes - U.S. product sales grew 14%, with 14 products delivering double-digit growth [17] - Repatha sales outside the U.S. increased by 29% year over year, reaching $442 million [21] - Evenity sales in the U.S. grew 36% year over year, with Prolia sales reaching nearly $1.1 billion [22][23] Company Strategy and Development Direction - The company is focused on addressing large underserved patient populations with multiple products, particularly in general medicine and rare diseases [5][6] - Continued investment in manufacturing and R&D, with nearly $5 billion invested in U.S. capital projects since 2017 [14][58] - The company aims to maintain leadership in biosimilars and innovative therapies while navigating potential tariff and tax changes [13][58] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, citing strong patient demand and ongoing product launches [16] - The company is well-positioned to deliver innovation and growth, despite operating in a volatile environment [16] - Management reaffirmed 2025 revenue guidance of $34.3 billion to $35.7 billion and non-GAAP EPS guidance of $20 to $21.2 [54] Other Important Information - The company generated $1 billion in free cash flow in Q1, reflecting operational momentum [51] - The FDA granted breakthrough therapy designation for blinatumomab for subcutaneous treatment of B-ALL [11][46] - The company is advancing multiple Phase 3 studies across various therapeutic areas, including obesity and rare diseases [36][42] Q&A Session Summary Question: What should be expected at ADA regarding Meritide? - Management highlighted strong efficacy and tolerability data from Phase II studies, with a focus on mechanistic insights and ongoing Phase III trials [62][64] Question: What is the commercial strategy for Aplisna in IgG4? - The company is excited about being the first approved therapy for IgG4, with a focus on engaging rheumatologists and leveraging its experience in autoimmune diseases [68][70] Question: How does the company view competition from oral obesity medications? - Management expressed confidence in Meritide's efficacy and tolerability, noting that while oral medications may enter the market, Meritide's unique dosing schedule provides a competitive advantage [80][84] Question: How is Repatha performing against competitors like Lecvio? - Management acknowledged competition but emphasized Repatha's strong profile and ongoing efforts to improve access and affordability for patients [88][90] Question: What is the expected uptake of Tableau following the Q code implementation? - The company reported positive reception of PABLUE among retina specialists and is working on contracting with larger groups [95] Question: How is the company addressing payer dynamics in the obesity market? - Management is focused on ensuring broad access to obesity medications and is monitoring recent changes in the payer environment [99]

Financial Data and Key Metrics Changes - The company reported revenues of $8.1 billion for Q1 2025, reflecting a 9% year-over-year increase, driven by 14% volume growth from key brands [48] - Non-GAAP operating expenses rose by 4%, with R&D expenses increasing by 12% year-over-year, indicating continued investment in the late-stage pipeline [49] - The non-GAAP operating margin was 45.7%, above previous guidance due to the timing of R&D spending [49] Business Line Data and Key Metrics Changes - Global product sales grew by 11% year-over-year, with the U.S. market showing a 14% increase [18] - Repatha sales increased by 27% year-over-year, reaching $656 million in Q1, driven by improved access and prescriber engagement [19] - The rare disease portfolio grew by 3% year-over-year, generating $1 billion in sales, although sales of TEPEZZA and KRYSTEXXA were impacted by changes in U.S. wholesaler inventory levels [23] Market Data and Key Metrics Changes - The biosimilars portfolio generated $735 million in sales, a 35% increase year-over-year, with PABLUE sales reaching $99 million [31] - Evenity sales grew by 36% in the U.S., highlighting the potential for further market penetration as fewer than 250,000 patients have been treated to date [22] - The oncology portfolio, including products like BLINCYTO and IMDELTRA, grew by 10% year-over-year, generating over $2 billion in sales [29] Company Strategy and Development Direction - The company is focused on addressing large underserved patient populations in general medicine, rare diseases, and oncology, with multiple product launches and positive clinical trial data [5][6] - There is a commitment to innovation, with significant investments in R&D and manufacturing capacity in the U.S. [14][56] - The company aims to adapt to potential changes in tariffs and taxes while maintaining long-term growth strategies [13][55] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, citing strong patient demand for innovative medicines and the successful execution of multiple Phase 3 studies [16] - The company reaffirmed its 2025 total revenue guidance in the range of $34.3 billion to $35.7 billion, along with non-GAAP earnings per share guidance between $20 and $21.2 [52] - Management acknowledged the competitive landscape but emphasized the unique value propositions of their products, particularly in the PCSK9 category [88] Other Important Information - The company has invested nearly $5 billion in U.S. capital projects since 2017 and announced an additional $2 billion in expansions in Ohio and North Carolina [14] - The integration of Horizon is progressing well, with expectations to achieve $500 million in pre-tax cost synergies by the end of the year [49] Q&A Session Summary Question: What should be expected at ADA regarding Meritide? - Management highlighted strong efficacy and tolerability data from Phase II studies, with a focus on new mechanistic data to be presented at ADA [60][62] Question: What is the commercial strategy for Uplenza in IgG4? - The company is excited about being the first approved therapy for IgG4, with a focus on engaging rheumatologists and leveraging its existing presence in inflammation and autoimmune diseases [68][70] Question: How does the company view competition from oral obesity medications? - Management acknowledged the competition but emphasized the unique dosing schedule and efficacy of Meritide, which they believe will maintain its competitive edge [82][84] Question: What is the outlook for Repatha amidst increasing competition? - The company recognizes competition but believes Repatha has the best profile in the PCSK9 category, with ongoing efforts to improve access and affordability for patients [88][90]

Q1 '25 Earnings Call May 1, 2025 Safe Harbor Statement This presentation contains forward-looking statements that are based on the current expectations and beliefs of Amgen. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements, including any statements on the outcome, benefits and synergies of collaborations, or potential collaborations, with any other company (including BeiGene, Ltd. or Kyowa Kirin Co., Ltd.), the performance of Otezla® (a ...

Exhibit 99.1 News Release One Amgen Center Drive Thousand Oaks, CA 91320-1799 Telephone 805-447-1000 www.amgen.com AMGEN REPORTS FIRST QUARTER 2025 FINANCIAL RESULTS THOUSAND OAKS, Calif. (May 1, 2025) - Amgen (NASDAQ:AMGN) today announced financial results for the first quarter of 2025. "Demand for our products was strong globally in the first quarter. Ongoing new product launches and successful Phase 3 trial results for several products make us feel confident in our long-term growth prospects," said Rober ...

THOUSAND OAKS, Calif., May 1, 2025 /PRNewswire/ -- Amgen (NASDAQ:AMGN) today announced financial results for the first quarter of 2025."Demand for our products was strong globally in the first quarter. Ongoing new product launches and successful Phase 3 trial results for several products make us feel confident in our long-term growth prospects," said Robert A. Bradway, chairman and chief executive officer.Key results include: For the first quarter, total revenues increased 9% to $8.1 billion in comparison t ...

Amgen (AMGN) will report first-quarter 2025 results on May 1, after market close. In the last reported quarter, the company beat earnings expectations by 5.57%. The Zacks Consensus Estimate for first-quarter sales and earnings is pegged at $7.96 billion and $4.16 per share, respectively. (Find the latest earnings estimates and surprises on Zacks Earnings Calendar.)Factors to Consider for AmgenAmgen’s product sales are expected to have been driven by strong volume growth of products like Evenity, Repatha, Ky ...

THOUSAND OAKS, Calif., April 28, 2025 /PRNewswire/ -- Amgen (NASDAQ:AMGN) today announced that it will report its first quarter 2025 financial results on Thursday, May 1, 2025, after the close of the U.S. financial markets. The announcement will be followed by a conference call with the investment community at 4:30 p.m. ET. Participating in the call from Amgen will be Robert A. Bradway, chairman and chief executive officer, and other members of Amgen's senior management team.Live audio of the conference cal ...

The first-quarter earnings season for the drug and biotech sector will be in full swing this week, with many large drugmakers like Pfizer (PFE) , Eli Lilly (LLY) , Amgen (AMGN) , Biogen (BIIB) , and Regeneron Pharmaceuticals (REGN) , among others, due to announce results. Johnson & Johnson and Merck have already reported results, with both beating first-quarter estimates for earnings and sales. French drugmaker Sanofi came out with mixed first-quarter results as it beat estimates for earnings but missed the ...

The upcoming report from Amgen (AMGN) is expected to reveal quarterly earnings of $4.15 per share, indicating an increase of 4.8% compared to the year-ago period. Analysts forecast revenues of $7.96 billion, representing an increase of 6.8% year over year. Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 1.6% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period. Prior to a company ...

Investment Rating - The report assigns an "In-Line" investment rating for the biopharma industry in North America [7] Core Insights - The latest weekly Total Prescription (TRx) year-over-year (YoY) growth for the week ending April 11, 2025, was +2.7%, a decrease from +3.5% the previous week, but consistent with the +2.7% growth over the past 12 weeks [1][2] - The report highlights the launch performance of new drugs, including BMY's Cobenfy for schizophrenia and VRTX's Journavx for acute pain, with specific TRx targets needed to meet consensus sales estimates [3][4] Summary by Sections Market Overview - The US total market weekly TRx YoY change was +2.7% compared to +2.3% a year ago, with a rolling 4-week TRx YoY also at +2.7% [2] - Extended unit (EUTRx) weekly YoY growth was +1.4%, indicating a slower growth rate compared to TRx YoY [2] Drug Launch Analysis - BMY's Cobenfy, approved for schizophrenia, recorded approximately 1,660 scripts for the week, up from 1,580 the previous week, with a target of 105K TRx needed to meet 2025 consensus estimates [3] - VRTX's Journavx, approved for acute pain, had around 2,950 scripts for the week, with an estimated average script size of 35-37 pills, indicating a need for approximately 229K scripts for a 14-day duration to achieve $87 million in sales [4] Prescription Trends - The report includes a detailed analysis of prescription trends for major pharmaceuticals, highlighting significant YoY changes for key products such as Humira, Rinvoq, and Skyrizi [19][21] - The GLP-1 franchise, particularly Mounjaro and Zepbound, showed notable growth, with Mounjaro experiencing a 69% YoY increase [21] Seasonal Vaccine Tracking - The report tracks seasonal respiratory vaccines, noting that RSV vaccine volumes are approximately 65% below last year's levels, while COVID vaccine volumes are also down year-over-year [10]