Amgen Inc.

My name is Julianne and I will be your conference facilitator today for Amgen's fourth quarter and full year 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 one 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 fourth quarter 2024 earnings call. Bob Bradway will lead the call and be followed by a broader review of our performance by Myrtle Gordon, Jay Bradner, and Peter Griffiths. 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.

Good afternoon, everyone, and thank you for joining us today. 2024 capped another year of strong execution at Amgen. Our operations teams supplied every patient every time. Our clinical teams reliably delivered quality results across the portfolio, and our commercial teams grew the business across our four therapeutic areas and in each of our geographic regions. The operating rhythm that we've established in our business will serve us well for 2025 and the longer term. Looking ahead, our objective is to deliver long-term growth while navigating regulatory and political change, declining net prices, and losses of exclusivity. We have a track record of doing just that. If you consider the past decade, we grew revenues above a mid-single-digit percent level and EPS at approximately 9% per year over the period, despite facing biosimilar and generic competition across products that accounted for about 50% of our revenues. As we look to the next decade, our novel medicines are well-positioned to address patient demographics in a rapidly aging world, And we expect that our operating discipline to enable us to scale to meet the needs of patients while continuing to deliver for our shareholders. Reflecting on our marketed products in 2024, we exited the fourth quarter with 14 medicines, each annualizing at over a billion dollars. And notably, several of these will be key drivers of growth through the decade. Let me highlight a few. Starting in general medicine, Repatha and Avenity continue to deliver attractive growth. Heart disease remains the leading cause of death globally, and Repatha, now a multibillion-dollar product, continues to expand as access improves worldwide. We are the leader worldwide in bone health, addressing the huge need for fracture prevention in those living with osteoporosis. The clinical performance of Avenity since its launch demonstrates the leading role it can play in reducing fracture risk for millions of postmenopausal women. In rare diseases, 2025 will be an exciting year. We look forward to regulatory approvals for Tepeza internationally and launches in new indications for Uplizna, further strengthening the growth trajectory of our rare disease business. In inflammation, we continue to be inspired by the strong performance of Tezspire and the progress we're making advancing into new indications, including COPD, which is the third leading cause of death, where we intend to initiate Phase III studies. And, of course, in chronic rhinocytosis, which runs in parallel with other respiratory diseases. In oncology, our leading bispecific T-cell engager platform, provides further opportunities for growth, with Blinsido moving into frontline treatment and demonstrating compelling survival benefit in BALL. Mdeltra, showing impressive efficacy in hard-to-treat small cell lung cancer, and Zaluridamig advancing into Phase III in advanced prostate cancer. 2025 promises to be another milestone year for our rapidly advancing pipeline. with important Phase III data readouts for programs including across our general medicine, rare disease, inflammation, and oncology portfolios. Beyond these readouts, we'll be initiating several new Phase III trials of Meritide in obesity and related conditions. This is an exciting time for innovation in our laboratories, in our factories with the science of manufacturing, and in leveraging technology across the company. When it comes to artificial intelligence, we're finding new opportunities across our business, and AI is helping us deliver innovative medicines to more patients even faster. To wrap up, 2024 demonstrated the strength of our business, the depth and breadth of our portfolio, and the power of our pipeline. As we step into 2025, we're poised to deliver continued growth and innovation in the near term through 2030 and beyond. And I want to thank our global team for their exceptional contributions and dedication to our mission. With that, I'll turn it over to Murdo for an update on our commercial organization. Thanks, Bob.