Amgen Inc. (NASDAQ:AMGN) Q3 2024 Earnings Conference Call October 30, 2024 4:30 PM ET

Company Participants

Justin Claeys - VP, IR
Robert Bradway - Chairman, CEO & President
Murdo Gordon - EVP, Global Commercial Operations
Vikram Karnani - EVP & President, Global Commercial Operations & Medical Affairs (Rare Disease)
James Bradner - EVP, Research and Development & Chief Scientific Officer
Peter Griffith - EVP & CFO

Conference Call Participants

Salveen Richter - Goldman Sachs
Olivia Brayer - Cantor Fitzgerald
Michael Yee - Jefferies
Courtney Breen - Bernstein
Umer Raffat - Evercore ISI
Terence Flynn - Morgan Stanley
Jay Olson - Oppenheimer
Carter Gould - Barclays
Christopher Schott - JPMorgan
Evan Seigerman - BMO Capital Markets
Mohit Bansal - Wells Fargo
Gregory Renza - RBC Capital Markets
Matt Phipps - William Blair
Christopher Raymond - Piper Sandler

Operator

My name is Julianne, and I will be your conference facilitator today for Amgen's Third 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 conclusion of the last speakers’ prepared remarks. [Operator Instructions]

I would now like to introduce Justin Claeys, Vice President of Investor Relations. Mr. Claeys, you may now begin.

Justin Claeys

Thank you, Julianne. Good afternoon, everyone, and welcome to our third quarter 2024 earnings call. Bob Bradway will lead the call and be followed by a broader review of our performance by Murdo 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.

Robert Bradway

Thank you for joining us today. Our performance this quarter reflects the strength of our business across our core therapeutic areas and geographies. Our in-market medicines performed well in the quarter with third quarter revenues up 23% to $8.5 billion and 10 of our products delivering double-digit or better sales growth. We're also rapidly advancing our pipeline with a significant number of potentially first-in-class or best-in-class medicines, positioning us for long-term growth.

Let me address MariTide directly. Our ongoing Phase II study is progressing well, and we look forward to sharing results later this year. We're well advanced in preparing to launch a broad Phase III program for MariTide, including obesity, obesity-related conditions and type 2 diabetes. You may have noted that we recently initiated a Phase II study in patients with type 2 diabetes. As we shared after the interim analysis, we're confident that MariTide's differentiated profile will address important unmet medical needs across a number of diseases, including type 2 diabetes.