Slide 1: Investment Community Conference Call
Exhibit 99.2 Investment August 15, 2007 Community Conference Call
Slide 2: Safe Harbor Statement
Safeforward-looking cause estimates Forward-looking Amgen, additional duty No foreign) ENBREL and Government subject market. product become invalidated impacted This hardcopy, Provided 2 existing may Harbor toactual presentation update to In candidates aincluding involving be August by of commercial
Slide 3: George Morrow, Executive Vice President, Global Commercial Operations
George Morrow Executive Vice President, Global Commercial Operations
Slide 4: Worldwide EPOGEN and Aranesp Net Sales 2006
2006 Worldwide EPOGEN® US Medicare: Provided 4 MDS $2.8B Amgen minimal August ~40% Anemia $2.5B Ex-US Worldwide ~50% 15,$6.6B $1.3B 2007 Aranesp® ~75% Anemia as part Oncology Worldwide Commercial/Other: Net of an Sales oral $2.1B$4.1B presentation Non-Oncology ~60% Dialysis and~50% is$2.5B qualified
Slide 5: NCD Policy Non-coverage
NCD Policy Non-coverage Approximately No Misclassifies Must Untested Increases Provided 5 allowance stop Patient Provisions and August non-response ESACare non-responders inconsistent for of50% when 15, Hb patient Concerns Comment increased 2007 ³treatment 10.0 and co-morbidity, with as g/dL thus pa
Slide 6: Illustrative Treatment Course Before and With NCD
Before(weeks) ILLUSTRATIVE Time Provided 6 NCD, August Treatment 12 15, Single 11 2007 10With Patient as2part ESAs 4 6Example of 8 10 Aimed an 12 oral14At presentation Hemoglobin 16Correcting 18 20 and (g/dL) CIAisand qualified Reducing ESA doses by such, RiskCourse contains of Transfusions offorwar
Slide 7: Key Questions Driving NCD Impact on Aranesp
Key Question Of From How If What Assumption ~ Source: ~35% Provided 8 60% 34680% ESA the weeks Assumptions long percent the 60% treatment Data August time will (median that applicable of chemotherapy itinitially patients take 15, isWhich time) withheld, 2007 forfor present initially initiated Hb Dri
Slide 8: CMS Reimbursement Policies Will Alter Treatment Paradigm
CMS (weeks) ILLUSTRATIVE Ineligible Course Hemoglobin Time Provided 9 Reimbursement ofAugust for Chemotherapy (g/dL) Therapy 11 15, Single 10 2007 Policies 9 Patient as 2 4part Will 6 Example 8of10 Alter an12oral 14 thepresentation 16 Treatment 18 20 Paradigm and is qualified for Medicare by such, B
Slide 9: Our Estimation of Patient Types and Treatment Opportunities
Our Estimation Patient Patients Poor Medicare Provided 10 Responders Types Never “Bouncing” August represented Below of %15, Medicare of10–15% Around 2007 Currently approximately 10 g/dL asCIA 10 part Roughly Treated g/dL 10–15% Patient of an 40% with oral Patients 1/2 Treatment of ESA presentation
Slide 10: Components of Medicare and AoC Sales
Components Medicare AoC Virtually NCD The Provided 11 NCD Xwill ê all August Commercial/Other does negatively CIA reimbursement of not Future ê15, ?directly 2007 affect MDS Aranesp® asaffect Medicare has Öpart Öbeen Oncology of MDS. an withdrawn CIA oral Wepatients. presentation Sales expect forWe r
Slide 11: Key Oncology Stakeholder Reactions
Key Oncology Stakeholder Professional Concerned Seeking Confusion Wide Awaiting Waiting Current Highly Increasing Referring Provided 12 range variable reimbursement to modifications August further Medicare rate on see that of Current Societies interpretation direction Medicare Market of NCD patients
Slide 12: Delaying Initiation of ESA Therapy Could Lead to More Transfusions
The ~ Delaying Based Transfusions K-M 35 aOn-time: bLate: *Rearden Provided 13300,000 30NCD Proportions 25 on Initiation 20 August initiation our TP, Could patients Initiation 15are analysis, et10 al. of burdensome Lead 15, (95% 5with of darbepoetin JCO of 02007 ESA To if darbepoetin CL) CIA 2004 17
Slide 13: Next Steps by Key Stakeholders
Next Key – Stakeholders Provided 14Withdraw Re-open Reconsider oncology Steps August NCD specific continue believe NCD stakeholders and 15,inprovisions delay 2007 CMS expedited to work as implementation has have part closely the and fashion presented ofauthority finalize anwith oralCMS CMS remainder
Slide 14: Bob Bradway, Executive Vice President and CFO
Bob Bradway Executive Vice President and CFO
Slide 15: Key Elements of Restructuring Program
Key Elements Cumulative Headcount Rationalization Reduce $600M–$800M $1.0B–$1.3B Over Provided 16 $2B planned August increase reduction pre-tax of ofof in 2007–2008 annual 15, Restructuring certain pre-tax inGAAP 2007 of planned pre-tax 12–14% facilities savings as restructuring capital part cash Pr
Slide 16: 2007 Guidance and Adjusted EPS
Guidance Adjusted Incremental US Commercial Important Outcome Clarity *Adjusted reconciliations Provided 17 Medicare onAugust EPS*: of for additional aEPS potential CRDAC NCD payer 2007 CIA accompanying is$4.13–$4.23 15, aimpact substantially impact non-GAAP ESA-related 2007 will “at-risk” on be exp
Slide 17: Longer-term Comments and Full Year Considerations
Comments Longer-term Full Incremental Operating Higher Lower Provided 20 year SG&A R&D Wyeth cost August impact expenses on of sales as revenue (excluding P&L profit sales aof 15, %growth NCD Trends sales due share 2007 considerations toand for Wyeth as product Post-NCD Neulasta®/NEUPOGEN®, part oth
Slide 18: Investment Community Conference Call
Investment August 15, 2007 Community Conference Call
Slide 19: Reconciliations
Reconciliations
Slide 20: Amgen Reconciliation of Adjusted to GAAP Earnings Per Share
Amgen Reconciliation Earnings “Adjusted” Known Restructuring Stock Tax Amortization Write Other Write-off GAAP $4.13 2007 $3.37 (a) (b) currently (c) (d) (e) The (f) exercising (g) (h) (i) development. Provided 23 -To In (0.03) To (0.39 (0.10 (0.04) (0.16) 0.08 (0.03) (0.01) settlement total connect
Slide 21: Investment Community Conference Call
Investment August 15, 2007 Community Conference Call