Amgen Inc.

My name is Julianne and I will be your conference facilitator today for Amgen's second quarter 2024 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 one on your telephone keypad. To withdraw your question, please press star 1 again. I would now like to introduce Justin Clays, Vice President of Investor Relations. Mr. Clays, you may now begin.

Thank you, Julianne. Good afternoon, everyone, and welcome to our second quarter 2024 earnings call. Bob Bradway will lead the call and be followed by a broader review of our performance by Myrtle Gordon, Vikram Karnani, Jay Bradner, and Peter Griffith. Through the course of our discussion today, we will use non-GAAP financial measures to describe our performance and have provided appropriate reconciliations within the materials that accompany this call. We will also make some forward-looking statements which are qualified by our Safe Harbor Statement. And please note that actual results can vary materially. Over to you, Bob.

Okay. Well, thank you, Justin, and let me thank all of you for joining the call today. We're especially grateful in light of all the volatility in the markets that you would carve out the time to be with us, so thank you. Through the first half of the year, our business is performing well, and we remain confident in our ability to deliver attractive long-term growth. We're achieving strong results the same way we always have, which is by providing innovative medicines to address challenging diseases. Starting with the in-market portfolio, second quarter revenues grew 20% to $8.4 billion this with numerous medicines delivering double-digit sales growth, including in general medicine, Repatha and Avenity, in oncology, of course, Blinzido, and inflammation, Tespire, and then turning to rare disease, which delivered more than a billion dollars on the quarter, I would highlight that Cristexa, Uclizna, and Tavneos each delivered at least double-digit sales growth in the quarter. And Tepeza grew 8% year-over-year and 13% quarter-over-quarter. All of these first or best-in-class medicines are still early in their life cycles and have plenty of room to run through geographic expansion, new indications, and or new formulations. You'll hear more about these brands in a moment. Turning to research and development, we believe our pipeline looks very promising as well, not just in obesity but across all of our therapeutic areas. We told you at the beginning of the year that we were anticipating more than a dozen significant pipeline milestones in 2024. Well, so far, so good. In the second quarter alone, we received accelerated approval for MDeltra, a landmark new medicine for small cell lung cancer. In fact, the physicians I've spoken to since approval are really excited about this drug as the first meaningful innovation in decades for these patients. We also received approval for BlinCyto in the frontline treatment for B-cell precursor acute lymphoblastic leukemia based on significantly improved overall survival rates. The frontline approval meaningfully expands the potential impact of BlinCyto for all patients with BALL. We announced impressive phase three data for uplizna in IgG4-related disease, which is a grievous illness for which there are no currently approved therapies of any kind. Building on our success with TESSpire in treating severe asthma, we announced exciting data from our phase two study in patients with chronic obstructive pulmonary disease that earned this molecule breakthrough therapy designation. COPD is the world's third leading cause of death, and new treatment options are very much needed. We look forward to additional data readouts later this year across therapeutic areas, highlighted, of course, by top-line data from the ongoing MERITIDE Phase II study. We're encouraged by the emerging data in this field, particularly in cardiovascular and renal disease, areas of longstanding strategic focus for us. We are laser-focused on preparing to launch a broad Phase III program for Maritide that includes obesity, obesity-related conditions, and type 2 diabetes, and we're further ramping our investment to support Maritide and the rest of the pipeline. You'll hear more about that pipeline shortly on this call. All in all, this is a very exciting time for us at Amgen, and as always, I'm grateful to my Amgen colleagues all around the world for their enduring commitment to patients. And now let me turn things over to Murdo.