Amgen Inc. · NASDAQ:AMGN
Amgen — 43rd Annual J.P. Morgan Healthcare Conference (January 2025)
25 slides from Amgen's conference presentation, Jan 13, 2025
Slide 1: 43rd Annual J.P. Morgan Healthcare Conference
43rd ANNUAL J.P. MORGAN HEALTHCARE CONFERENCE ROBERT A. BRADWAY, CHAIRMAN AND CHIEF EXECUTIVE OFFICER January 13, 2025
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. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements, including any statements on the outco
Slide 3: We Are Focused on Serious Diseases...
WE ARE FOCUSED ON SERIOUS DISEASES... GENERAL MEDICINE RARE DISEASE • Obesity and Obesity-related Conditions Thyroid Eye Disease • • Heart Attack Uncontrolled Gout • • Osteoporosis Neuromyelitis Optica Spectrum Disorder • • Migraine ANCA-associated Vasculitis • • Chronic Kidney Disease Severe Malign
Slide 4: ...With a Number of Important Medicines
...WITH A NUMBER OF IMPORTANT MEDICINES GENERAL MEDICINE RARE DISEASE ONCOLOGY INFLAMMATION Provided January 13, 2025, as part of an oral presentation and is qualified by such, contains forward-looking statements, actual results may vary materially; Amgen disclaims any duty to update. 4
Slide 5: Our Strategy Has Delivered Consistent Long-Term Growth for Over a Decade
OUR STRATEGY HAS DELIVERED CONSISTENT LONG-TERM GROWTH FOR OVER A DECADE Accelerated performance in 2024 $33.0B to $33.8B2 22% revenue growth3,13% Non-GAAP operating income growth3, and 6% dividend growth3 14 products with annualized run rate of >$1 billion4 $20 $19.20 to $20.002 Advanced key innova
Slide 6: We Are Poised to Deliver Strong Growth in the Near-Term, Through 2030, and Beyond
WE ARE POISED TO DELIVER STRONG GROWTH IN THE NEAR-TERM, THROUGH 2030, AND BEYOND Driving growth through innovative in-line products in areas of significant unmet need • Repatha® positioned for accelerated growth to address heart disease • EVENITY® market leading bone building therapy addressing sig
Slide 7: Broad Based Growth Potential Across All Four Therapeutic Areas
BROAD BASED GROWTH POTENTIAL ACROSS ALL FOUR OF OUR THERAPEUTIC AREAS GENERAL MEDICINE RARE DISEASE INFLAMMATION ONCOLOGY Marketed Products Innovative Pipeline Biosimilars Provided January 13, 2025, as part of an oral presentation and is qualified by such, contains forward-looking statements, actual
Slide 8: Driving Growth Through Innovative In-Line Products
DRIVING GROWTH THROUGH INNOVATIVE IN-LINE PRODUCTS
Slide 9: Repatha Is Annualizing at Well Over $2B and Positioned for Accelerated Growth
REPATHA® IS ANNUALIZING AT WELL OVER $2B1 AND POSITIONED FOR ACCELERATED GROWTH THROUGHOUT THE DECADE GENERAL MEDICINE: KEY MARKETED PRODUCTS Repatha® Sales ($USD Billions) • Enormous unmet need with >100 million patients2 still requiring effective treatment >2.0 • Expanding utilization in primary c
Slide 10: Evenity Is Transforming Care for Postmenopausal Women at High Risk for Fracture
EVENITY® IS TRANSFORMING CARE FOR POSTMENOPAUSAL WOMEN AT HIGH RISK FOR FRACTURE GENERAL MEDICINE: KEY MARKETED PRODUCTS EVENITY® Sales ($USD Billions) • Enormous unmet need with more than ~2 million patients in the U.S. with very high risk of fracture requiring treatment1 • Single digit penetration
Slide 11: Rare Disease Business Growing Rapidly
RARE DISEASE BUSINESS GROWING RAPIDLY RARE DISEASE: KEY MARKETED PRODUCTS First and only thyroid First and only #1 prescribed FDA- Only complement eye disease treatment uncontrolled approved biologic in inhibitor for ANCA- gout treatment neuromyelitis optica associated vasculitis International expan
Slide 12: Tezspire Is Growing Rapidly Based on Efficacy Profile and Unmet Need
TEZSPIRE® IS GROWING RAPIDLY BASED ON EFFICACY PROFILE AND UNMET NEED INFLAMMATION: KEY MARKETED PRODUCTS & INNOVATIVE PIPELINE PROGRAMS TEZSPIRE® grew 73% year- Chronic obstructive Chronic rhinosinusitis over-year1 in severe asthma pulmonary disease (COPD) with nasal polyps by: Encouraging Phase 2
Slide 13: Advancing a Pipeline of First-in-Class and Transformative Therapies
ADVANCING A PIPELINE OF FIRST-IN-CLASS AND TRANSFORMATIVE THERAPIES
Slide 14: Phase 2 Results Highlight MariTide's Differentiated and Competitive Profile
PHASE 2 RESULTS HIGHLIGHT MARITIDE’S DIFFERENTIATED AND COMPETITIVE PROFILE Weight Loss No weight loss plateau at 52 weeks • Up to ~20% weight loss at 52 weeks in patients living with obesity • Up to ~17% weight loss at 52 weeks in patients living with obesity and Type 2 diabetes Cardiometabolic Par
Slide 15: We Expect MariTide to Address Important Unmet Needs
WE EXPECT MARITIDE TO ADDRESS IMPORTANT UNMET NEEDS • Significant weight loss and improvement in cardiometabolic parameters • Simple for patients to achieve target dose and stay on therapy • Potential for patients to maintain weight loss with monthly or less frequent dosing (“area under the curve”)
Slide 16: Olpasiran Is a Potentially Best-in-Class Molecule Targeting Lp(a)
OLPASIRAN IS A POTENTIALLY BEST-IN-CLASS MOLECULE TARGETING Lp(a) GENERAL MEDICINE: INNOVATIVE PIPELINE PROGRAMS • First-in-class small interfering RNA molecule targeting Lp(a) • Roughly 20% of individuals have elevated Lp(a) • Once every 12-week dosing • In Phase 2: ◦ Olpasiran, reduced Lp(a) conce
Slide 17: Uplizna Is Transforming Rare Disease Care With Its Differentiated Profile
UPLIZNA® IS TRANSFORMING RARE DISEASE CARE WITH ITS DIFFERENTIATED PROFILE RARE DISEASE: KEY MARKETED PRODUCTS & INNOVATIVE PIPELINE PROGRAMS UPLIZNA® has a Unique and IgG4 Related Disease (RD) Generalized Myasthenia Gravis Differentiated Profile U.S. Prevalence ~20K U.S. Prevalence ~80–100K • CD19
Slide 18: Positioned to Lead the Field of B-Cell Depletion in Autoimmune Disease
POSITIONED TO LEAD THE FIELD OF B-CELL DEPLETION IN AUTOIMMUNE DISEASE INFLAMMATION: INNOVATIVE PIPELINE PROGRAMS BLINCYTO® / blinatumomab: CD19 targeting bispecific • Promising initial data in refractory rheumatoid arthritis • Phase 2 in systemic lupus erythematosus (SLE) with nephritis UPLIZNA® /
Slide 19: Oncology Pipeline Focused on Differentiated Therapies and Large Effect Size
ONCOLOGY PIPELINE FOCUSED ON DIFFERENTIATED THERAPIES, AND LARGE EFFECT SIZE ONCOLOGY: INNOVATIVE PIPELINE PROGRAMS Leading Bispecific Platform Novel Targeted Therapies BLINCYTO® Significant survival benefit in frontline1 Bemarituzumab Phase 3 studies in first-line gastric B-ALL. Subcutaneous blinat
Slide 20: Industry-Leading Biosimilars Business
INDUSTRY-LEADING BIOSIMILARS BUSINESS
Slide 21: Biosimilars Business Remains on Track to Double 2021 Sales by 2030 to >$4B
INDUSTRY-LEADING BIOSIMILARS BUSINESS REMAINS ON TRACK TO DOUBLE 2021 SALES BY 2030 TO >$4B RARE DISEASE INFLAMMATION ONCOLOGY Advancing next wave of opportunities U.S. launches of PAVBLU and WEZLANA are underway Ready to launch BKEMV in Q2’25 in U.S. Phase 3 trials are underway for next three inves
Slide 22: Important Pipeline Milestones Anticipated in 2025
IMPORTANT PIPELINE MILESTONES ANTICIPATED IN 2025 GENERAL MEDICINE RARE DISEASE INFLAMMATION ONCOLOGY MariTide TEPEZZA® TEZSPIRE® IMDELLTRA • MARITIME Phase 3 study • Japan launch in TED H1 2025 • Regulatory submission in • Phase 3 study data readout in 2L initiation(s) H1 2025 to H2 2025 CRSwNP H1
Slide 23: We Are Poised to Deliver Strong Growth in the Near-Term, Through 2030, and Beyond
WE ARE POISED TO DELIVER STRONG GROWTH IN THE NEAR-TERM, THROUGH 2030, AND BEYOND Driving growth through innovative in-line products in areas of significant unmet need • Repatha® positioned for accelerated growth to address heart disease • EVENITY® market leading bone building therapy addressing sig
Slide 24: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations Provided January 13, 2025, as part of an oral presentation and is qualified by such, contains forward-looking statements, actual results may vary materially; Amgen disclaims any duty to update. 24
Slide 25: Amgen Inc. GAAP to Non-GAAP Reconciliations
Amgen Inc. GAAP to Non-GAAP Reconciliations (Dollars In millions) (Unaudited) Amgen Inc. Reconciliation of GAAP EPS Guidance to Non-GAAP EPS Guidance for the Year Ending December 31, 2024 (Unaudited) GAAP diluted EPS guidance $ 8.71 — $ 9.56 Known adjustments to arrive at non-GAAP*: Acquisition-rela
Amgen — 43rd Annual J.P. Morgan Healthcare Conference (January 2025) on 6ix