Financial Data and Key Metrics Changes - The company reported a 9% year-over-year revenue growth and a 13% volume growth in the second quarter [5] - Non-GAAP earnings per share grew by 21% year-over-year [5] Business Line Data and Key Metrics Changes - In general medicine, Repatha achieved $689 million in sales, growing at 31% year-over-year, while Evenity reached $518 million in sales with a growth of 32% year-over-year [8] - The rare disease segment is now annualizing at over $5 billion, with significant growth from Oplisna and a successful launch in IgG4 related disease [9][10] - The oncology portfolio saw BLINCYTO grow by 45% year-over-year, and IMDELTRA grew at 65% quarter-over-quarter, generating $134 million in sales [13] - The inflammation segment, particularly TestFire, grew by 46% year-over-year in severe uncontrolled asthma [14] Market Data and Key Metrics Changes - The company is expanding its presence in Japan with the successful launch of TEPEZZA and is having ongoing conversations with payers in Europe [70] Company Strategy and Development Direction - The company emphasizes a commitment to innovation, execution excellence, and disciplined capital allocation, with an increased R&D spend guidance of over 20% for the year [15][24] - The focus is on expanding the pipeline, particularly in obesity and cardiometabolic risk management, with multiple Phase III studies ongoing [18][19][48] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the ability to serve more patients and address unmet medical needs, highlighting the importance of both inline products and pipeline innovations [72] - The company is well-positioned for long-term growth, with a strong platform and breadth across therapeutic areas [72] Other Important Information - The company has largely completed deleveraging from the Horizon transaction and is on track to return to an efficient capital structure by the end of the year [16] Q&A Session Summary Question: Discussion on Meratide and its safety profile - Management discussed the Phase II study's focus on dose escalation and the pharmacokinetic characteristics of Meratide, which allow for smooth titration to target doses [26][27] Question: Broader program for Meratide - Management highlighted the broad maritime program, including studies in cardiovascular disease and chronic weight management, indicating significant potential in these areas [33][32] Question: Opportunities with Repatha and Vesalius CV trial - Management noted that the Vesalius study will add to the evidence supporting Repatha's use in primary prevention, which is crucial for payer acceptance [42] Question: Positioning of Aplizna in the market - Management emphasized Aplizna's stable efficacy, steroid tapering capability, and attractive dosing schedule as key differentiators in the market [66][67] Question: Progress in geographical expansion post-Horizon deal - Management confirmed successful sales of TEPEZZA in Japan and ongoing discussions with European payers, indicating positive progress in geographical expansion [70]