Financial Data and Key Metrics Changes - First quarter revenues grew by 9% year over year, with non-GAAP EPS increasing by 24% [5] - The revenue from Repatha reached $656 million, up 27% year over year [5] - The rare disease portfolio generated over $1 billion in product sales in the first quarter [7] - The biosimilars portfolio generated $735 million in product sales, up 35% year over year [9][10] - Operating margin is guided to be around 46% for the year, down from 47% last year due to increased R&D opportunities [32] Business Line Data and Key Metrics Changes - General medicine products, including Repatha and Evenity, showed strong growth, with Repatha being a multibillion-dollar product [5][16] - TESPIRE in inflammation grew by 65% year over year [7][19] - The oncology segment, particularly the T cell engager platform, saw a 52% growth in BLINCYTO [8][16] - The rare disease segment continues to show strength with products like Euplisna and KRYSTEXXA [18] Market Data and Key Metrics Changes - Cardiovascular disease remains a leading cause of mortality, driving growth for Repatha [5] - The market for obesity treatments is vast, with estimates suggesting over a billion people affected globally [46] - The company is optimistic about expanding its presence in the rare disease market, particularly with new launches [18][60] Company Strategy and Development Direction - The company's strategy focuses on execution in both the end market portfolio and the advancing pipeline [16][23] - Significant capital allocation is planned for expanding manufacturing capabilities, with $2.3 billion in CapEx for the year [21] - The company is actively engaging in business development opportunities, including collaborations and acquisitions [26][28] Management's Comments on Operating Environment and Future Outlook - Management is closely monitoring the policy and macro environment, including tariffs and drug pricing [10][32] - The company is optimistic about its innovation pipeline and believes it can navigate the current challenges effectively [30][33] - There is a strong focus on patient access and value, with ongoing engagement with policymakers [28][30] Other Important Information - The company is preparing for a PDUFA date for Euplisna in generalized myasthenia gravis [7][60] - Upcoming data presentations at the American Diabetes Association meeting will provide insights into the Meritide program [13][34] Q&A Session Summary Question: What are the key priorities for the company today and what is the forward strategy? - The key strategy is focused on execution in the end market portfolio and rapidly advancing pipeline [16] Question: How important is business development as a lever for the company? - The company maintains an open approach to business development, looking at all opportunities for innovation [26] Question: How is the company engaging with policymakers regarding drug pricing? - The company is actively engaged with policymakers to advocate for innovation and patient access [28] Question: What is the outlook for the obesity market and how will Meritide be positioned? - The obesity market is large and underpenetrated, with Meritide expected to compete effectively across various settings [46][48] Question: What are the commercial opportunities for the recently launched drugs? - The company sees significant potential in IgG4 mediated diseases and myasthenia gravis, with strong efficacy profiles [60][61]

Demographic Trends - The global population is aging rapidly, with life expectancies increasing and birth rates declining, leading to a demographic imbalance in both developed and emerging economies [1] - By 2030, one in six individuals globally will be over 60, and by 2050, this figure is expected to reach 2.1 billion, with 80% residing in low- and middle-income countries [2] Healthcare Market Dynamics - The global geriatric care market was valued at approximately $1.2 trillion in 2025, up from around $1 trillion in 2022, driven by the rising prevalence of chronic conditions among older adults [3] - There is a growing demand for pharmaceuticals, medical devices, home-based care, and digital health solutions tailored for aging populations [3] Company Strategies - Healthcare companies like Boston Scientific, AbbVie, Amgen, and Dexcom are enhancing operational efficiency to expand their presence in the Seniors & Aging Demographics domain [4] - Pharmaceutical companies are focusing on developing treatments for chronic conditions prevalent in older adults, particularly in immunology, oncology, and neurodegenerative diseases [5] Investment Opportunities - The Healthcare Real Estate Investment Trust (Healthcare REIT) sector is gaining attention, with companies like Community Healthcare Trust and CareTrust REIT focusing on specialized healthcare real estate for the aging population [6] - Digital health solutions, AI-driven diagnostics, and home-based monitoring systems are creating new revenue opportunities for healthcare firms [5] Company Highlights - Boston Scientific has developed devices like the WATCHMAN and SYNERGY systems, catering to the needs of elderly patients [8] - AbbVie is expanding its focus on the aging demographic through strategic acquisitions and partnerships, including the acquisition of Aliada Therapeutics for Alzheimer's treatment [10][11] - Amgen is advancing its R&D pipeline with a focus on elderly-targeted medicines, including osteoporosis treatments and obesity drugs [13][14][15] - Dexcom is enhancing its continuous glucose monitoring systems for seniors, including the launch of the Stelo system, which is designed for ease of use [16][17]

Amgen (AMGN) 2025 Conference Summary Company Overview - **Company**: Amgen (AMGN) - **Event**: Jefferies Healthcare Conference, June 04, 2025 Key Points Financial Performance - First quarter revenues increased by **9%**, with non-GAAP earnings per share up **24%** year over year [6] - **14 products** delivered double-digit growth, indicating broad-based strength in the portfolio [6] Product Highlights - **Repatha** and **Evenity** generated over **$1 billion** in revenue in Q1, up **28%** year over year [7] - Significant market opportunity exists with **100 million** patients needing LDL cholesterol lowering and **90%** of very high-risk patients for postmenopausal osteoporosis not receiving appropriate therapy [7] - **Opasiran** is fully enrolled in its phase three cardiovascular outcomes trial [10] - **Euplisna** launched as the first FDA-approved therapy for IgG4-related disease, with a PDUFA date set for December 14 [10] - **TESPIRE** continues to grow in severe uncontrolled asthma, with a PDUFA date for chronic rhinosinusitis with nasal polyps on October 19 [11] - **Biosimilars** generated **$735 million** in revenue in Q1, up **35%** year over year [14] Pipeline and R&D - The company is focused on advancing its pipeline across various therapeutic areas, including general medicine, rare diseases, inflammation, and oncology [5][10] - Upcoming data presentations at the ADA meeting will include results from the **Meritide** phase II trial [7][49] Market Dynamics - The company is aware of the competitive landscape, particularly regarding the launch of biosimilars for **denosumab** [17][26] - Despite concerns about biosimilars, Amgen expects to maintain growth through strong performance of existing products [17][46] Strategic Focus - Amgen emphasizes the importance of innovation and is actively engaging with policymakers to improve patient access while supporting sustainable R&D [15][16] - The company is committed to maintaining a disciplined capital allocation strategy, focusing on innovation, business investment, and returning capital to shareholders [44] Competitive Positioning - Amgen believes its diverse portfolio of growth drivers mitigates risks associated with biosimilars [21] - The company is confident in the competitive differentiation of its products, particularly **Meritide**, which is positioned as a unique offering in the weight management market [49][50] Future Outlook - The company anticipates continued strong growth in branded products, with manageable impacts from biosimilars [46] - Amgen is preparing for significant data releases and product launches in the coming months, which are expected to bolster its market position [88][92] Additional Insights - The company is leveraging technology and AI to enhance operational efficiency and R&D processes [45] - Amgen's focus on patient-friendly delivery systems for its products is expected to improve patient adherence and experience [63][80] This summary encapsulates the key insights and strategic directions discussed during the Amgen conference, highlighting the company's robust financial performance, innovative pipeline, and competitive positioning in the biotechnology sector.

Core Viewpoint - Amgen (AMGN) reported strong first-quarter earnings and sales for 2025, with total revenues increasing by 9% year over year and product revenues rising by 11% to $7.87 billion, driven by volume growth despite price declines [1][2][3] Revenue Performance - Total revenues rose 9% year over year, with product revenues increasing 11% to $7.87 billion, reflecting strong volume growth across all areas [1][2] - Sales of key products such as Prolia, Xgeva, Repatha, Blincyto, and Evenity exceeded estimates, with 14 products achieving double-digit volume growth [3][4] Key Drug Performance - Repatha generated $656 million in sales, up 27% year over year, with volume growth of 41% offset by a 9% price decline [4] - Evenity recorded sales of $442 million, a 29% increase year over year, driven by strong demand [5] - Prolia revenues reached $1.1 billion, up 10% from the previous year, as higher volumes mitigated lower pricing impacts [5] Rare Disease Drug Sales - Sales of rare disease drugs rose 3% year over year to $1 billion, with Tepezza and Krystexxa impacted by U.S. wholesaler inventory changes [8][9] - Tepezza sales declined 10% to $381 million, while Krystexxa remained flat at $236 million; Uplizna grew 14% to $91 million, and Tavneos saw a 76% increase to $90 million [9] Oncology Portfolio - Amgen's oncology portfolio grew 10% year over year, generating over $2 billion in sales, with Blincyto as a key driver at $370 million, up 52% [10][11] - Xgeva delivered revenues of $566 million, while Kyprolis saw a 14% decline to $324 million due to competitive pressures [11] Biosimilars Contribution - Biosimilar portfolio sales increased by 35% year over year to $735 million, with new products like Wezlana contributing significantly [12][13] - Wezlana generated $150 million in sales, while Pavblu brought in $99 million [13] Inflammation Drugs - Otezla sales were $437 million, up 11%, while Enbrel revenues declined 10% to $510 million, with both products beating estimates [15] Overall Conclusion - Amgen's key medicines, including Evenity, Repatha, and Blincyto, drove sales growth, offsetting declines from oncology biosimilars and established products like Enbrel [16] - Increased pricing pressures and competition are expected to impact sales of several products, with potential revenue headwinds from brands like Otezla and Lumakras [17]

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 ...

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 ...

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 ...