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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Amgen Inc.    AMGN

AMGEN INC.

(AMGN)
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Delayed Quote. Delayed Nasdaq - 03/31 04:00:00 pm
202.73 USD   -2.76%
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Amgen : Q1 2019 Amgen Earnings Conference Call Presentation

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04/30/2019 | 04:13pm EDT

Q1 '19 EARNINGS CALL

APRIL 30, 2019

SAFE HARBOR STATEMENT

This presentation contains forward-looking statements that are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those described. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements, including statements about estimates of revenues, operating margins, capital expenditures, cash, other financial metrics, expected legal, arbitration, political, regulatory or clinical results or practices, customer and prescriber patterns or practices, reimbursement activities and outcomes and other such estimates and results. Forward-looking statements involve significant risks and uncertainties, including those discussed below and more fully described in the Securities and Exchange Commission (SEC) reports filed by Amgen, including Amgen's most recent annual report on Form 10-K and any subsequent periodic reports on Form 10-Q and current reports on Form 8-K. Please refer to Amgen's most recent Forms 10-K,10-Q and 8-K for additional information on the uncertainties and risk factors related to our business. Unless otherwise noted, Amgen is providing this information as of April 30, 2019 and expressly disclaims any duty to update information contained in this presentation.

No forward-looking statement can be guaranteed and actual results may differ materially from those we project. Our results may be affected by our ability to successfully market both new and existing products domestically and internationally, clinical and regulatory developments involving current and future products, sales growth of recently launched products, competition from other products including biosimilars, difficulties or delays in manufacturing our products and global economic conditions. In addition, sales of our products are affected by pricing pressure, political and public scrutiny and reimbursement policies imposed by third-party payers, including governments, private insurance plans and managed care providers and may be affected by regulatory, clinical and guideline developments and domestic and international trends toward managed care and healthcare cost containment. Furthermore, our research, testing, pricing, marketing and other operations are subject to extensive regulation by domestic and foreign government regulatory authorities. We or others could identify safety, side effects or manufacturing problems with our products, including our devices, after they are on the market. Our business may be impacted by government investigations, litigation and product liability claims. In addition, our business may be impacted by the adoption of new tax legislation or exposure to additional tax liabilities. While we routinely obtain patents for our products and technology, the protection offered by our patents and patent applications may be challenged, invalidated or circumvented by our competitors, or we may fail to prevail in present and future intellectual property litigation. We perform a substantial amount of our commercial manufacturing activities at a few key facilities, including in Puerto Rico, and also depend on third parties for a portion of our manufacturing activities, and limits on supply may constrain sales of certain of our current products and product candidate development. We rely on collaborations with third parties for the development of some of our product candidates and for the commercialization and sales of some of our commercial products. In addition, we compete with other companies with respect to many of our marketed products as well as for the discovery and development of new products. Discovery or identification of new product candidates or development of new indications for existing products cannot be guaranteed and movement from concept to product is uncertain; consequently, there can be no guarantee that any particular product candidate or development of a new indication for an existing product will be successful and become a commercial product. Further, some raw materials, medical devices and component parts for our products are supplied by sole third- party suppliers. Certain of our distributors, customers and payers have substantial purchasing leverage in their dealings with us. The discovery of significant problems with a product similar to one of our products that implicate an entire class of products could have a material adverse effect on sales of the affected products and on our business and results of operations. Our efforts to acquire other companies or products and to integrate the operations of companies we have acquired may not be successful. A breakdown, cyberattack or information security breach could compromise the confidentiality, integrity and availability of our systems and our data. Our stock price is volatile and may be affected by a number of events. Our business performance could affect or limit the ability of our Board of Directors to declare a dividend or our ability to pay a dividend or repurchase our common stock. We may not be able to access the capital and credit markets on terms that are favorable to us, or at all.

This presentation includes GAAP and non-GAAP financial measures. In accordance with the requirements of SEC Regulation G, reconciliations between these two measures, if these slides are in hard copy, accompany the hard copy presentation or, if these slides are delivered electronically, are available on the Company's website at www.amgen.com within the Investors section.

Provided April 30, 2019, as part of an oral presentation and is qualified by

such, contains forward-looking statements, actual results may vary

2

materially; Amgen disclaims any duty to update.

AGENDA

Introduction

Arvind Sood

Opening Remarks

Bob Bradway

Q1 '19 Business Results

David Meline

Global Commercial Review

Murdo Gordon

R&D Review

David Reese

Q&A

All

Provided April 30, 2019, as part of an oral presentation and is qualified by

such, contains forward-looking statements, actual results may vary

3

materially; Amgen disclaims any duty to update.

INVESTING FOR LONG-TERM GROWTH

We have a strong track record of execution and are prepared to compete effectively against new competition in an evolving healthcare environment

We are delivering volume-driven growth and effectively executing lifecycle management strategies

Our new launches are addressing significant unmet need and will drive long-term volume growth

We continue to make significant investments in Research and Development to advance a pipeline of differentiated, first-in-class programs

We are focused on delivering long-term growth for our shareholders

Provided April 30, 2019, as part of an oral presentation and is qualified by

such, contains forward-looking statements, actual results may vary

4

materially; Amgen disclaims any duty to update.

Q1 '19 BUSINESS RESULTS

DAVID MELINE

EXECUTIVE VICE PRESIDENT

AND CHIEF FINANCIAL OFFICER

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Amgen Inc. published this content on 30 April 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 30 April 2019 20:12:06 UTC

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Financials (USD)
Sales 2020 25 561 M
EBIT 2020 11 912 M
Net income 2020 7 123 M
Debt 2020 19 755 M
Yield 2020 3,13%
P/E ratio 2020 16,3x
P/E ratio 2021 14,2x
EV / Sales2020 5,45x
EV / Sales2021 5,16x
Capitalization 120 B
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Technical analysis trends AMGEN INC.
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TrendsNeutralBearishNeutral
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 28
Average target price 243,76  $
Last Close Price 202,73  $
Spread / Highest target 40,6%
Spread / Average Target 20,2%
Spread / Lowest Target -8,75%
EPS Revisions
Managers
NameTitle
Robert A. Bradway Chairman & Chief Executive Officer
Esteban Santos Executive Vice President-Operations
Peter H. Griffith Chief Financial Officer
David M. Reese Executive Vice President-Research & Development
Darryl Sleep Chief Medical Officer & Senior VP-Global Medical
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