Amgen Inc. · NASDAQ:AMGN
Amgen — Investor Presentation (May 2020)
18 slides from Amgen's investor presentation, May 27, 2020
Slide 1: Investor Presentation May 2020
INVESTOR PRESENTATION MAY 2020
Slide 2: Safe Harbor Statement
SAFE HARBOR STATEMENT This presentation contains forward-looking statements that are based on the current expectations and beliefs of Amgen and are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those described. All statements, o
Slide 3: We Are Focused on Execution in 2020 and Beyond
WE ARE FOCUSED ON EXECUTION IN 2020 AND BEYOND • Entering period of revenue growth driven by strong new product flow, including Repatha®, Aimovig®, EVENITY®, biosimilars and Otezla® • Executing on an important component of our corporate strategy by expanding our international footprint through partn
Slide 4: We Want to Help Find Solutions for COVID-19
WE WANT TO HELP FIND SOLUTIONS FOR COVID-19 We are prioritizing: • Safety of employees and families • Reliable supply of our medicines to patients • Health of the communities where we live and work • Innovating for COVID-19 – Collaborating to discover and develop human neutralizing antibodies target
Slide 5: Non-GAAP EPS Up 17% in Q1 2020
NON-GAAP EPS UP 17% IN Q1 2020 $ Millions, Except Non-GAAP EPS Q1 ’20 Q1 ’19 B/(W) % Revenue $6,161 $5,557 11% Non-GAAP Operating Income 3,176 2,770 15% % of product sales 53.9% 52.4% Non-GAAP Net Income $2,476 $2,230 11% Non-GAAP EPS $4.17 $3.56 17% All income statement items for Q1 ’20 and/or Q1 ’
Slide 6: We Have Added to Our Portfolio of Growth Products
WE HAVE ADDED TO OUR PORTFOLIO OF GROWTH PRODUCTS Otezla® acquired in 2019 Provided May 27, 2020, as part of an oral presentation and is qualified by such, contains forward-looking statements, actual results may vary 6 materially; Amgen disclaims any duty to update.
Slide 7: Our First Wave of Biosimilars Has Been Well Received
OUR FIRST WAVE OF BIOSIMILARS HAS BEEN WELL RECEIVED BY PATIENTS AND PRESCRIBERS (Humira® biosimilar) (Avastin® biosimilar) (Herceptin® biosimilar) In Development ABP 938 ABP 798 (Eylea® biosimilar) (Rituxan® biosimilar) (Remicade® biosimilar) Plan to launch in 2020 (U.S.) + others In Q1 2020, our b
Slide 8: International Expansion Is a Source of Long-Term Growth for Amgen
INTERNATIONAL EXPANSION IS A SOURCE OF LONG-TERM GROWTH FOR AMGEN BeiGene1 (Oncology) Full Ownership2 of Collaboration Astellas Pharma in China in Japan and and are available in China are available in Japan 1In 2019, we announced a collaboration with BeiGene to expand Amgen’s oncology business. In J
Slide 9: Innovative Pipeline Readouts in 2020 to Lead Growth in Long Term
INNOVATIVE PIPELINE READOUTS IN 2020 TO LEAD GROWTH IN LONG TERM Inflammation Oncology Cardiovascular Otezla® (mild-to- Sotorasib (Phase 2) moderate psoriasis)* Omecamtiv mecarbil NSCLC (monotherapy) Tezepelumab (Phase 3) heart failure (Phase 3) asthma We have shortened drug discovery and developmen
Slide 10: We Are Pushing the Boundaries of Science to Discover New Approaches
WE ARE PUSHING THE BOUNDARIES OF SCIENCE TO DISCOVER NEW APPROACHES TO SERIOUS DISEASE deCODE Genetics Intermountain Healthcare Analyze genomes of 500,000 patients Adaptive Biotechnologies Antibody therapeutics SomaLogic Proteomics technology Nuevolution DNA encoded libraries UK Biobank Joined whole
Slide 11: Capital Allocation Priorities Are Unchanged
CAPITAL ALLOCATION PRIORITIES ARE UNCHANGED Capital Allocation Priorities Investing in Internal Innovation Capital Expenditures Strategic Business Growing Dividend Development Opportunistic Share Repurchases Provided May 27, 2020, as part of an oral presentation and is qualified by such, contains fo
Slide 12: Capital Allocation to Shareholders and Investment for Long-Term Growth
CAPITAL ALLOCATION TO SHAREHOLDERS AND INVESTMENT FOR LONG-TERM GROWTH $66B Invested in the Business Since 2011, Strong Total Returns to Shareholders $33B or 37% of Sales* Total Shareholder Return (TSR) Jan. 1, 2011–Dec. 31, 2019 $26B 436% $6B Non-GAAP R&D Acquisitions Capital Expense† Expenditures
Slide 13: We Have the Right Strategy to Deliver Long-Term Volume-Driven Growth
WE HAVE THE RIGHT STRATEGY TO DELIVER LONG-TERM VOLUME-DRIVEN GROWTH AND CREATE SHAREHOLDER VALUE • Return to top-line growth in 2020 – Factors driving our growth include our recently launched products, our ongoing global expansion, our robust pipeline and our acquisition of Otezla® • Achieving stro
Slide 14: Reconciliations
ee x s& AMGEN Pioneering science delivers vital medicines”
Slide 15: Amgen Inc. GAAP to Non-GAAP Reconciliations
Amgen Inc. GAAP to Non-GAAP Reconciliations (Dollars in millions) (Unaudited) Three months ended March 31, 2020 2019 GAAP cost of sales $ 1,513 $ 1,055 Adjustments to cost of sales: Acquisition-related expenses (a) (742) $ (276) Three months ended Total adjustments to cost of sales (742) (276) March
Slide 16: GAAP to Non-GAAP Reconciliations: Diluted Earnings per Share
Amgen Inc. GAAP to Non-GAAP Reconciliations (In millions, except per-share data) (Unaudited) The following table presents the computations for GAAP and non-GAAP diluted earnings per share. Three months ended Three months ended March 31, 2020 March 31, 2019 GAAP Non-GAAP GAAP Non-GAAP Net income……………
Slide 17: GAAP to Non-GAAP Reconciliations: Research and Development Expenses
Amgen Inc. GAAP to Non-GAAP Reconciliations (In millions) (Unaudited) Years ended December 31, 2019 2018 2017 2016 2015 2014 2013 2012 2011 GAAP research and development expenses $ 4,116 $ 3,737 $ 3,562 $ 3,840 $ 4,070 $ 4,297 $ 4,083 $ 3,380 $ 3,167 Adjustments to research and development expenses:
Slide 18: Investor Presentation
INVESTOR PRESENTATION MAY 2020