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| Statement |
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| It's a great strategic fit |
| We're so excited about Amgen, and all four of our pillars and serving patients |
| And we think that the medicine again here has real utility, to provide clinical benefit for an important unmet need |
| I think the CRP is also extremely encouraging |
| Again, we think it's really a very positive finding |
| We see significant long-term growth opportunities across all four of our therapeutic pillars |
| So I think that reproducibility consistency of effect which is coupled as you say Yaron with the biomarkers look at the HbA1c data very, very reassuring I think gives us great confidence in the molecule |
| We feel really good about creating value for patients staff and shareholders over the long term |
| But I'd like to highlight that we have strong opportunities across all four of our pillars and both for in-line brands and for the pipeline |
| Our in-line products continue to deliver strong volume growth in 2023 with Repatha 37% volume growth, and EVENITY at over 44% year-over-year |
| These products both had record sales for the years |
| So since then I don't know that business development had much to do with the IRA here or not but it has a lot to do with and we're very pleased with acquiring ChemoCentryx in October 2022 and TAVNEOS for ANCA-associated vasculitis and just really pleased to have Horizon with us in establishing that rare disease pillar |
| We see continued significant growth for EVENITY and Repatha given the low penetration and their very large addressable patient populations, and oncology strength across the portfolio in particular with BLINCYTO following positive Phase 3 data in earlier treatment lines and updated NCCN guidelines |
| We feel great about that |
| TEZSPIRE continues its strong launch sales of $567 million in fiscal 2023, including significantly expanding coverage with major pharmacy benefit managers to over 80% |
| Last year we delivered double-digit volume growth in each of the four quarters |
| And we saw record sales in 2023 on our brands through volume-driven growth |
| And we think with an effective medicine and an effective molecule in TEZSPIRE that we should be able to bring clinical benefit there |
| So we feel great about that |
| You look at our in-line products, we just talked about 18 and with record sales last year |
| We're confident in its mechanism and encouraged by the Phase 1 results |
| We're evaluating a wide range of demand scenarios and are confident in our ability to supply MariTide building on our track record of every patient every time |
| So, I think it's encouraging |
| Olpasiran [indiscernible], our potentially best-in-class Lp(a) targeting molecule, has been seeing great receptivity from investigators and rapidly enrolled 7000-plus patients in one year in our pivotal Phase 3 cardiovascular outcomes trial |
| And so we'll stay on it and we're confident that we're going to be able to up the payer percentage |
| And we're delighted to say we're working well together |
| So we expect operating margin now to accelerate in each of the subsequent quarters and for a full year non-GAAP operating margin of about 48% |
| It gives us confidence in NAVIGATOR |
| Amgen's wonderful and well-built down commercial footprint around the world |
| Our pipeline is the best in our history, addressing tough to treat diseases where we have the potential to reach many, many more patients |
| Statement |
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| Yaron Werber What is it going to take to get coverage to 80%, up from 50%? Paul Burton In our survey that's been one of the headwinds for the brand |
| Comes down by about 0.5%, which even in these non-diabetic patients is quite profound |
| In the respiratory setting there's actually a paper just recently published, looking at some translational medicine that shows that treatment with TEZSPIRE actually does reduce production of IL-33 as well |
| At the higher dose on the SAD, it didn't seem like nausea and vomiting got worse |
| About 7% of them primarily grade one or two, so really quite mild |
| If I recall the IRA got passed after the guidance, right? So can you talk about – the IRA obviously was a big unknown when you gave that guidance |
| The one area that small numbers but the triglycerides and some of the LDL data on the fatty acids were a little bit more noisy, right? And they didn't show the immediate trends down that you would have anticipated with a GLP-1 up to 12 weeks or the 14% weight loss |
| Obviously, it's not definitive proof |
| So when you take that in totality, we see it more as a tolerability issue |
| It's transient, it's mild |
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