Amgen Inc.

My name is Erica, and I will be your conference facilitator today for Amgen's second quarter 2020 financial results conference call. All lines have been placed on mute to prevent any background noise. There will be a question and answer session at the conclusion of the last speaker's prepared remarks. In order to ensure that everyone has a chance to participate, we would like to request that you limit yourself to asking one question during the Q&A session. To ask a question, please press star, then the number 1 on your telephone keypad. To withdraw your question, press the pound key. I would now like to introduce Arvind Sood, Vice President of Investor Relations. Mr. Sood, you may begin.

Thank you, Erica. Good afternoon, everybody, and welcome to our Q2 call. This call is going to feel a bit different than our previous earnings calls because we are making some changes. As a matter of fact, in response to feedback from many of you that our prepared comments are too long, we are going to limit our prepared comments to around 20 minutes. We'll also limit the duration of the call to one hour. Now, that doesn't mean that we are scaling back on disclosure. You'll notice our press release has been enriched to provide explanations that were previously included in our prepared comments. We think this approach will free up time for Q&A. But to make sure that everyone has an opportunity to ask a question, we are still going to request that you stick to asking only one question. The slides have been posted, but will not match up to our prepared comments given the brevity. Just a quick reminder that we'll use non-GAAP financial measures in our presentation, and some of the statements will be forward-looking. Our 10-K and other filings identify factors that could cause our actual results to differ materially. So with that, I would like to turn the call over to Bob.

Okay, thank you, Arvind, and thank you, everyone, for joining today's call. As we look back at the first six months of the year and project forward to the second half, I'm very aware that we're still in the midst of a really significant global public health challenge and deep economic downturn. In that context, our results, which include 6% revenues growth and given by 13% volume growth. These are strong results, and they reflect the resilience of our people, strength of our operating systems, and our success in continuing to supply every patient every time with the medicines they need. We remain confident in the long-term growth potential of innovative medicines like Otezla, Repatha, Prolia, Avenity, and Amavig, as well as our expanding portfolio of marketed biosimilars. Even in the second quarter, when we felt the depths of the pandemic, we delivered. Myrna will have more to say about that later and also about how we're navigating commercially through what remains a very dynamic week-by-week situation, especially in the U.S. and other parts of the world. As we find new ways to meet the needs of current patients, we're excited about the potential of the medicines in our pipeline to enable us to serve many more patients in the future. We expect readouts in the second half of the year for sotiracib, which of course is our AMG510 in non-small cell lung cancer, tezopilumab in severe asthma, and omicamptamicarbol in heart failure. Encouragingly, we've restarted many of the earlier stage clinical trials that we put on hold due to COVID-19 at the end of the first quarter and beginning of the second. We're also exploring Otezla as a potential treatment for patients with COVID-19. You'll hear Dave say more about that in a moment. In an environment of ongoing uncertainty, our strong financial position provides us with competitive flexibility. And as Peter will discuss in a moment, our financial strength enables us to continue to invest in the long-term growth of our business, internally and externally, while also returning capital to our shareholders. We demonstrated tight control of expenses in the first half of the year. With health care systems operating more normally now, we expect to increase expenses, including for activities that were curtailed in parts of the first and second quarters. We're in a strong position heading into the second half of the year. I just want to take a moment to thank the Amgen staff all around the world for their steadfast support of our mission. I also want to express our profound appreciation for all our partners in the healthcare community for the support that they've shown to the patients that we're trying to serve together. I look forward to answering your questions later in our call, but right now let me turn over to Murdo.