Quarterly Actions Report

Key outcomes embody:

• For the third quarter, complete revenues elevated 23% to $8.5 billion compared to the third quarter of 2023.
  • Product gross sales grew 24%, pushed by 29% quantity development, partially offset by 2% decrease web promoting worth. Excluding gross sales from our Horizon Therapeutics (Horizon) acquisition, product gross sales grew 8%, pushed by quantity development of 12%.
  • Ten merchandise delivered not less than double-digit gross sales development within the third quarter, together with Repatha ^® (evolocumab), TEZSPIRE ^® (tezepelumab-ekko), BLINCYTO ^® (blinatumomab), EVENITY ^® (romosozumab-aqqg), and TAVNEOS ^® (avacopan).
  • Our efficiency included $1.2 billion of gross sales from our uncommon illness merchandise, pushed by a number of first-in-class, early-in-lifecycle medicines, together with TEPEZZA ^® (teprotumumab-trbw), KRYSTEXXA ^® (pegloticase), UPLIZNA ^® (inebilizumab-cdon), and TAVNEOS ^® (avacopan).
• GAAP earnings per share (EPS) elevated 62% from $3.22 to $5.22 , pushed by mark-to-market positive aspects on our BeiGene, Ltd. (BeiGene) fairness funding and better revenues, partially offset by larger working bills, together with amortization expense from Horizon-acquired belongings and incremental bills from Horizon.
  • GAAP working revenue remained comparatively unchanged at $2.0 billion , and GAAP working margin decreased 5.8 share factors to 25.1%.
• Non-GAAP EPS elevated 13% from $4.96 to $5.58 , pushed by larger revenues, partially offset by larger working bills, together with incremental bills from Horizon, and curiosity expense.
  • Non-GAAP working revenue elevated from $3.4 billion to $4.0 billion , and non-GAAP working margin decreased 2.4 share factors to 49.6%.
• The Firm generated $3.3 billion of free money stream within the third quarter of 2024 versus $2.5 billion within the third quarter of 2023, pushed by enterprise efficiency and timing of working capital gadgets, partially offset by decrease curiosity revenue.

References on this launch to “non-GAAP” measures, measures offered “on a non-GAAP foundation” and “free money stream” (computed by subtracting capital expenditures from working money stream) consult with non-GAAP monetary measures. Changes to essentially the most immediately comparable GAAP monetary measures and different gadgets are offered on the hooked up reconciliations. Consult with Non-GAAP Monetary Measures beneath for additional dialogue.

Product Gross sales Efficiency

Normal Medication

• Repatha ^® (evolocumab) gross sales elevated 40% year-over-year to $567 million within the third quarter, pushed by 41% quantity development and eight% favorable modifications to estimated gross sales deductions, partially offset by 10% decrease web promoting worth.
• EVENITY ^® (romosozumab-aqqg) gross sales elevated 30% year-over-year to $399 million within the third quarter, pushed by quantity development.
• Prolia ^® (denosumab) gross sales elevated 6% year-over-year to $1.0 billion within the third quarter, pushed by 9% quantity development, partially offset by decrease stock ranges.

Oncology

• BLINCYTO ^® (blinatumomab) gross sales elevated 49% year-over-year to $327 million within the third quarter, primarily pushed by quantity development.
• Vectibix ^® (panitumumab) gross sales elevated 12% year-over-year to $282 million within the third quarter, primarily pushed by quantity development.
• KYPROLIS ^® (carfilzomib) gross sales elevated 8% year-over-year to $378 million within the third quarter, primarily pushed by quantity development outdoors the U.S.
• LUMAKRAS ^® /LUMYKRAS™ (sotorasib) gross sales elevated 88% year-over-year to $98 million within the third quarter, pushed by quantity development and favorable modifications to estimated gross sales deductions.
• XGEVA ^® (denosumab) gross sales elevated 4% year-over-year to $541 million within the third quarter, pushed by larger web promoting worth.
• Nplate ^® (romiplostim) gross sales elevated 9% year-over-year to $456 million within the third quarter. U.S. authorities orders have been $128 million in Q3’24 in comparison with $142 million in Q3’23. Excluding these U.S. authorities orders, Nplate gross sales grew 18% year-over-year within the third quarter, pushed by 14% quantity development and better web promoting worth.
• IMDELLTRA™ (tarlatamab-dlle) generated $36 million of gross sales within the third quarter. Gross sales elevated 200% quarter-over-quarter, pushed by quantity development. IMDELLTRA is the primary and solely FDA-approved bispecific T-cell engager (BiTE ^® ) remedy for the remedy of extensive-stage small cell lung most cancers (ES-SCLC).
• MVASI ^® (bevacizumab-awwb) gross sales decreased 8% year-over-year to $195 million within the third quarter. Going ahead, we anticipate continued gross sales erosion pushed by competitors.

Irritation

• TEZSPIRE ^® (tezepelumab-ekko) gross sales elevated 67% year-over-year to $269 million within the third quarter, pushed by quantity development.
• Otezla ^® (apremilast) gross sales decreased 1% year-over-year to $564 million within the third quarter, primarily pushed by 7% decrease web promoting worth, partially offset by 5% quantity development.
• Enbrel ^® (etanercept) gross sales decreased 20% year-over-year to $825 million within the third quarter, primarily pushed by 13% unfavorable modifications to estimated gross sales deductions and 12% decrease web promoting worth. Going ahead, we anticipate continued declining web promoting worth and comparatively flat volumes.
• AMJEVITA ^® /AMGEVITA™ (adalimumab) gross sales elevated 9% year-over-year to $166 million within the third quarter.

Uncommon Illness

Apart from TAVNEOS ^® , the merchandise listed beneath have been added by way of the acquisition of Horizon on Oct. 6, 2023 .

• TEPEZZA ^® (teprotumumab-trbw) generated $488 million of gross sales within the third quarter. TEPEZZA is the primary and solely FDA-approved remedy for thyroid eye illness (TED).
• KRYSTEXXA ^® (pegloticase) generated $310 million of gross sales within the third quarter. KRYSTEXXA is the primary and solely FDA-approved remedy for power refractory gout.
• UPLIZNA ^® (inebilizumab-cdon) generated $106 million of gross sales within the third quarter. UPLIZNA is used to deal with adults with neuromyelitis optica spectrum dysfunction.
• TAVNEOS ^® (avacopan) generated $80 million of gross sales within the third quarter. Gross sales elevated 116% year-over-year, primarily pushed by quantity development. TAVNEOS is a first-in-class remedy for extreme lively anti-neutrophil cytoplasmic autoantibody-associated vasculitis (ANCA-associated vasculitis).
• Extremely-Uncommon merchandise , which encompass RAVICTI ^® (glycerol phenylbutyrate) , PROCYSBI ^® (cysteamine bitartrate) , ACTIMMUNE ^® (interferon gamma-1b) , QUINSAIR ^® (levofloxacin) and BUPHENYL ^® (sodium phenylbutyrate) , generated $188 million of gross sales within the third quarter.

Established Merchandise

• Our established merchandise, which encompass EPOGEN ^® (epoetin alfa) , Aranesp ^® (darbepoetin alfa) , Parsabiv ^® (etelcalcetide) and Neulasta ^® (pegfilgrastim) , generated $550 million of gross sales. Gross sales decreased 7% year-over-year for the third quarter, pushed by quantity declines. Within the combination, we anticipate the year-over-year quantity declines for this portfolio of merchandise to proceed.

Product Gross sales Element by Product and Geographic Area

Working Expense, Working Margin and Tax Fee Evaluation

On a GAAP foundation for the third quarter:

• Whole Working Bills elevated 32% year-over-year. Price of Gross sales as a share of product gross sales elevated 13.0 share factors pushed by larger amortization expense from Horizon acquisition-related belongings and, to a lesser extent, larger royalties and revenue share. Analysis & Growth (R&D) bills elevated 34% pushed by larger spend in later-stage medical applications, marketed product assist, and analysis and early pipeline, together with Horizon-acquired applications. Promoting, Normal & Administrative (SG&A) bills elevated 20% primarily pushed by business bills associated to Horizon-acquired merchandise. Different working bills consisted primarily of an impairment cost related to an IPR&D asset and modifications within the honest values of contingent consideration liabilities, each associated to our Teneobio, Inc. acquisition from 2021.
• Working Margin as a share of product gross sales decreased 5.8 share factors year-over-year to 25.1%.
• Tax Fee decreased 2.4 share factors year-over-year primarily as a result of change in earnings combine because of the inclusion of the Horizon enterprise, partially offset by quarter-to-date 2024 unrealized positive aspects on our strategic fairness investments, primarily BeiGene.

On a non-GAAP foundation for the third quarter:

• Whole Working Bills elevated 27% year-over-year. Price of Gross sales as a share of product gross sales elevated 0.4 share factors pushed by larger royalties and revenue share, partially offset by decrease manufacturing prices and modifications in gross sales combine. R&D bills elevated 35% pushed by larger spend in later-stage medical applications, marketed product assist, and analysis and early pipeline, together with Horizon-acquired applications. SG&A bills elevated 21%, primarily pushed by business bills associated to Horizon-acquired merchandise.
• Working Margin as a share of product gross sales decreased 2.4 share factors year-over-year to 49.6%.
• Tax Fee decreased 2.7 share factors year-over-year primarily as a result of change in earnings combine because of the inclusion of the Horizon enterprise.

Money Movement and Stability Sheet

• The Firm generated $3.3 billion of free money stream within the third quarter of 2024 versus $2.5 billion within the third quarter of 2023, pushed by enterprise efficiency and timing of working capital gadgets, partially offset by decrease curiosity revenue.
• The Firm’s third quarter 2024 dividend of $2.25 per share was declared on August 2, 2024 , and was paid on September 6, 2024 , to all stockholders of report as of August 16, 2024 , representing a 6% improve from this similar interval in 2023.
• In the course of the third quarter, the Firm lowered principal debt excellent by $2.5 billion . Yr-to-date, the Firm has lowered principal debt excellent by $4.5 billion .
• Money and investments totaled $9.0 billion and debt excellent totaled $60.4 billion as of September 30, 2024 .

2024 Steerage

For the total 12 months 2024, the Firm now expects:

• Whole revenues within the vary of $33.0 billion to $33.8 billion .
• On a GAAP foundation, EPS within the vary of $8.71 to $9.56 , and a tax fee within the vary of 9.0% to 10.5%.
• On a non-GAAP foundation, EPS within the vary of $19.20 to $20.00 , and a tax fee within the vary of 14.0% to fifteen.0%.
• Capital expenditures to be roughly $1.3 billion .
• Share repurchases to not exceed $500 million .

Third   Quarter Product and Pipeline Replace
The Firm supplied the next updates on chosen product and pipeline applications:

Normal Medication

MariTide (maridebart cafraglutide, AMG 133)

• MariTide is a multispecific molecule that inhibits the gastric inhibitory polypeptide receptor (GIPR) and prompts the glucagon like peptide 1 (GLP-1) receptor.
• A Part 2 examine of MariTide is ongoing in adults who’re residing with obese or weight problems, with or with out Sort 2 diabetes mellitus. Topline information are anticipated in late 2024.
• Planning for a broad Part 3 program throughout a number of indications stays on observe.
• A Part 2 examine investigating MariTide was initiated for the remedy of Sort 2 diabetes in sufferers with and with out weight problems.

AMG 513

• A Part 1 examine of AMG 513 was initiated and is enrolling sufferers residing with weight problems.

Olpasiran (AMG 890)

• Olpasiran is a doubtlessly best-in-class small interfering ribonucleic acid (siRNA) molecule that reduces lipoprotein(a) (Lp(a)) synthesis within the liver.
• The Ocean(a)-Outcomes trial, a Part 3 cardiovascular outcomes examine, is ongoing in sufferers with atherosclerotic heart problems and elevated Lp(a).

Repatha

• EVOLVE-MI, a Part 4 examine of Repatha administered inside 10 days of an acute myocardial infarction to cut back the chance of cardiovascular (CV) occasions, is ongoing.
• VESALIUS-CV, a Part 3 CV outcomes examine of Repatha, is ongoing in sufferers at excessive CV threat with out prior myocardial infarction or stroke.
• In September information have been offered from:
  • a sub-analysis of the FOURIER trial demonstrating that sufferers with weight problems (BMI >35) are at an elevated threat of CV occasions. Repatha remedy of sufferers with weight problems resulted in a discount within the composite endpoint of CV loss of life, myocardial infarction, stroke, hospitalization for unstable angina or coronary revascularization at 3 years [HR 0.71 (0.59-0.86), and Absolute Risk Reduction = 5.65%]
  • the SLICE-CEA examine, the primary randomized trial of Repatha in sufferers with asymptomatic extreme high-risk carotid artery stenosis. The examine demonstrated that 6 months of Repatha remedy led to vital reductions in lipid wealthy necrotic core (LRNC) quantity (p=0.017) and its parts, intraplaque hemorrhage (IPH) (p=0.037) and lipid quantity (p=0.023) within the carotid vessels, as assessed by MRI.

Oncology

IMDELLTRA

• IMDELLTRA is a first-in-class delta-like ligand 3 (DLL3) concentrating on BiTE ^® (bispecific T-cell engager) molecule.
• The Firm is advancing a complete international medical improvement program throughout extensive-stage and limited-stage small cell lung most cancers (SCLC):
  • DeLLphi-304, a Part 3 examine evaluating IMDELLTRA with customary of care chemotherapy in second-line extensive-stage small cell lung most cancers (ES-SCLC), is ongoing.
  • DeLLphi-305, a Part 3 examine evaluating IMDELLTRA and durvalumab with durvalumab alone, is enrolling sufferers with first-line ES-SCLC.
  • DeLLphi-306, a Part 3 examine evaluating IMDELLTRA with placebo following concurrent chemoradiation remedy, is enrolling sufferers with limited-stage SCLC.
  • DeLLphi-308, a Part 1b examine evaluating subcutaneous tarlatamab, was initiated in sufferers with second line or later ES-SCLC.
  • DeLLphi-303, a Part 1b examine of IMDELLTRA together with a programmed cell loss of life protein ligand-1 (PD-L1) inhibitor +/- carboplatin and etoposide, is ongoing in sufferers with first-line ES-SCLC.
  • DeLLphi-302, a Part 1b examine of IMDELLTRA together with AMG 404 in sufferers with second-line or later SCLC, is full. AMG 404 is an anti-programmed cell loss of life protein 1 (PD1) monoclonal antibody.
• DeLLpro-300, a Part 1b examine of IMDELLTRA in sufferers with beforehand handled de novo or treatment-emergent neuroendocrine prostate most cancers, is full.
• In September, information have been offered from:
  • DeLLphi-301, a Part 2 examine of IMDELLTRA the place prolonged follow-up information demonstrated sustained anti-cancer exercise and a manageable security profile in sufferers with ES-SCLC beforehand handled with platinum-based chemotherapy. Amongst 100 sufferers handled with the ten mg dose degree, the median period of response was 9.7 months (95% CI, 6.9‒NE) and the median total survival was 15.2 months. No new security issues have been recognized.
  • DeLLphi-303, a Part 1b examine of IMDELLTRA mixed with a PD-L1 inhibitor as first-line ES-SCLC upkeep remedy. With a median follow-up of 10.0 months (vary 1.4 – 20.4), IMDELLTRA together with a PD-L1 inhibitor, demonstrated a manageable security profile with sturdy illness management [median duration of disease control: 9.3 months (95% CI: 5.6–not estimable)] and notable survival outcomes [median PFS 5.6 months (95% CI: 3.6–9.0), 9-month Kaplan-Meier estimate for OS of 88.9%].

BLINCYTO

• Golden Gate, a Part 3 examine of BLINCYTO alternating with low-intensity chemotherapy, continues to enroll older grownup sufferers with newly recognized Philadelphia chromosome (Ph)-negative B-cell precursor acute lymphoblastic leukemia (B-ALL).
• A Part 1/2 examine of subcutaneous blinatumomab has accomplished enrollment within the dose-expansion and optimization section in grownup sufferers with relapsed or refractory Ph-negative B-ALL. The Firm is planning to advance blinatumomab subcutaneous administration to a doubtlessly registration-enabling Part 2 portion of this examine with initiation in H2 2025.

Xaluritamig (AMG 509)

• Xaluritamig is a first-in-class bispecific T-cell engager concentrating on six-transmembrane epithelial antigen of prostate 1 (STEAP1).
• The Firm will provoke a Part 3 examine in post-taxane metastatic castrate resistant prostate most cancers (mCRPC) in fourth quarter of 2024.
• A Part 1 monotherapy dose-expansion examine of xaluritamig is ongoing in sufferers with mCRPC and has accomplished enrollment of sufferers in a lowered monitoring after remedy administration cohort. A completely outpatient remedy cohort continues to enroll sufferers to additional enhance administration comfort.
• A Part 1 mixture of xaluritamig with enzalutamide or abiraterone continues to enroll sufferers with mCRPC in dose-escalation and dose-expansion respectively.
• A Part 1b examine evaluating neoadjuvant xaluritamig remedy previous to radical prostatectomy was initiated in sufferers with newly recognized localized intermediate or excessive–threat prostate most cancers.
• A Part 1b examine was initiated and is now enrolling sufferers to guage xaluritamig in sufferers with high-risk nonmetastatic hormone-sensitive prostate most cancers after definitive remedy.
• In September outcomes have been offered from:
  • a Part 1 dose exploration cohort evaluating xaluritamig monotherapy in sufferers with mCRPC the place with a median follow-up of 27.9 months, the median OS was 17.7 months throughout all cohorts. An encouraging PSA90 fee (45.1%) was additionally noticed in high-dose cohorts, and presence of PSA90 response was related to survival (p = 0.0044), doubtlessly serving as an early indicator for profit in these sufferers.
  • a Part 1 dose-expansion cohort evaluating xaluritamig monotherapy utilizing a number of dosing regimens in sufferers with mCRPC demonstrated that the 1.5 mg Q2W goal dosing routine is essentially the most favorable efficacy and security profile and would be the beneficial Part 3 dose and schedule.

AMG 193

• AMG 193 is a first-in-class small molecule methylthioadenosine (MTA)-cooperative protein arginine methyltransferase 5 (PRMT5) inhibitor.
• A Part 1/ 1b /2 examine of AMG 193 continues to enroll sufferers with superior methylthioadenosine phosphorylase (MTAP)-null strong tumors within the dose-expansion portion of the examine.
• A Part 1b examine of AMG 193 alone or together with different therapies is enrolling sufferers with superior MTAP-null thoracic malignancies.
• A Part 1b examine of AMG 193 together with different therapies in superior MTAP-null gastrointestinal, biliary tract, and pancreatic cancers is enrolling sufferers.
• A Part 1/2 examine of AMG 193 together with IDE397, an investigational methionine adenosyltransferase 2A (MAT2A) inhibitor, continues to enroll sufferers with superior MTAP-null strong tumors.
• A Part 2 examine evaluating the efficacy, security, tolerability, and pharmacokinetics of AMG 193 was initiated in sufferers with MTAP-null beforehand handled superior non-small cell lung most cancers (NSCLC).
• In September, information have been offered from a Part 1 dose-escalation and preliminary dose-expansion examine of AMG 193 in sufferers with MTAP-null strong tumors. The information demonstrated monotherapy exercise and an appropriate security profile. These information open alternatives to discover each monotherapy and mixture remedy improvement methods.

Bemarituzumab

• Bemarituzumab is a first-in-class fibroblast development issue receptor 2b (FGFR2b) concentrating on monoclonal antibody.
• FORTITUDE-101, a Part 3 examine of bemarituzumab plus chemotherapy, is ongoing in sufferers with first-line gastric most cancers.
• FORTITUDE-102, a Part 1b /3 examine of bemarituzumab plus chemotherapy and nivolumab in sufferers with first-line gastric most cancers, has accomplished enrollment of the Part 3 portion of the examine.
• FORTITUDE-103, a Part 1b /2 examine of bemarituzumab plus oral chemotherapy regimens with or with out nivolumab, continues to enroll sufferers in first-line gastric most cancers.
• FORTITUDE-301, a Part 1b /2 basket examine of bemarituzumab monotherapy, is ongoing in sufferers with strong tumors with FGFR2b overexpression.

Nplate

• The first evaluation of a Part 3 examine of Nplate as supportive care in chemotherapy-induced thrombocytopenia in gastrointestinal malignancies is full. The Firm continues to comply with sufferers by way of a deliberate last evaluation in H1 2025. Knowledge presentation at a medical congress is anticipated in mid-2025.

LUMAKRAS/LUMYKRAS

• CodeBreaK 202, a Part 3 examine of LUMAKRAS plus chemotherapy vs. pembrolizumab plus chemotherapy, is enrolling sufferers with first-line KRAS G12C–mutated and programmed PD-L1 unfavourable superior NSCLC.
• Regulatory assessment by the European Medicines Company (EMA) of the CodeBreaK 200 Part 3 examine of adults with beforehand handled domestically superior or metastatic KRAS G12C–mutated NSCLC together with information from the Part 2 dose-comparison substudy is ongoing.
• The usFood and Drug Administration (FDA) prolonged the Prescription Drug Person Charge Act (PDUFA) date for the Part 3 CodeBreaK 300 examine of LUMAKRAS plus Vectibix vs. investigator’s selection of remedy in KRAS G12C–mutated metastatic colorectal most cancers (CRC) from October 17, 2024 , to January 17, 2025 , to permit time for assessment of lately submitted supplemental information.
• CodeBreaK 301, a Part 3 examine of LUMAKRAS together with Vectibix and FOLFIRI, is enrolling sufferers with first-line KRAS G12C–mutated CRC.

Irritation

TEZSPIRE

• The Firm is planning to provoke Part 3 research in sufferers with reasonable to very extreme power obstructive pulmonary illness (COPD) and a BEC ≥ 150 cells/µl or better. Research initiation is anticipated in H1 2025.
• A Part 3 examine of TEZSPIRE is ongoing in sufferers with power rhinosinusitis with nasal polyps. Knowledge readout is anticipated in H2 2024.
• A Part 3 examine of TEZSPIRE continues to enroll sufferers with eosinophilic esophagitis.
• In extreme bronchial asthma, the WAYFINDER Part 3b examine and the PASSAGE Part 4 real-world effectiveness examine are totally enrolled. The SUNRISE Part 3 examine continues to enroll sufferers.

Rocatinlimab (AMG 451/KHK4083)

• Rocatinlimab is a first-in-class T-cell rebalancing monoclonal antibody concentrating on the OX40 receptor.
• The eight examine ROCKET Part 3 program continues to enroll sufferers with moderate-to-severe atopic dermatitis (AD). To this point, over 3,200 sufferers have been enrolled within the ROCKET program, with six research having accomplished enrollment.
• In September, the Firm reported outcomes from the Part 3 HORIZON examine (a part of the ROCKET program), evaluating rocatinlimab monotherapy vs. placebo in adults with moderate-to-severe AD. The examine met its co-primary endpoints and all key secondary endpoints, attaining statistical significance versus placebo at week 24.
  • 32.8% of sufferers within the rocatinlimab group achieved ≥ 75% discount from baseline in Eczema Space and Severity Index rating (EASI-75), in comparison with 13.7% placebo handled (19.1% distinction, p
  • 19.3% of sufferers within the rocatinlimab group achieved a Validated Investigator’s World Evaluation for Atopic Dermatitis (vIGA-ADTM) rating of 0 (clear) or 1 (virtually clear) with a ≥ 2-point discount from baseline, in comparison with 6.6% in placebo (12.8% distinction, p
  • Within the U.S., a extra stringent scoring methodology was used (revised Investigator’s World Evaluation, or rIGA) the place 16.4% of sufferers within the rocatinlimab group achieved a rating of 0 (clear) or 1 (virtually clear) with a ≥ 2-point discount from baseline, in comparison with 4.9% in placebo (11.5% distinction, p
  • Security findings have been in keeping with these seen within the Part 2b AD examine.
• Further key information readouts from the ROCKET Part 3 program are anticipated in late 2024 by way of H2 2025:
  • ROCKET SHUTTLE is a 24-week examine evaluating rocatinlimab together with topical corticosteroids and/or topical calcineurin inhibitors in grownup sufferers with moderate-to-severe AD. Knowledge readout is anticipated in late 2024 to early 2025.
  • ROCKET IGNITE is a 24-week examine evaluating rocatinlimab monotherapy in grownup sufferers with moderate-to-severe AD. Knowledge readout is anticipated in late 2024 to early 2025.
  • ROCKET ASCEND is a examine evaluating rocatinlimab upkeep remedy in grownup and adolescent sufferers with moderate-to-severe AD. Knowledge readout is anticipated in H2 2025.
  • ROCKET ASTRO is a 52-week examine evaluating rocatinlimab in adolescent sufferers with moderate-to-severe AD. Knowledge readout is anticipated in H2 2025.
• A Part 2 examine of rocatinlimab is enrolling sufferers with moderate-to-severe bronchial asthma.
• A Part 3 examine of rocatinlimab is enrolling sufferers with prurigo nodularis.

Otezla

• In September information have been offered from:
  • a Part 3 examine of Japanese sufferers with Palmoplantar Pustulosis (PPP) demonstrating maintained or elevated efficacy (in contrast with the week 16 main evaluation) and no new security indicators with 52 weeks of Otezla remedy.
  • the DISCREET moderate-to-severe genital psoriasis examine demonstrating that enhancements in illness severity, signs, and high quality of life with Otezla remedy have been maintained at week 32. No new security indicators have been noticed.
  • the FOREMOST examine of sufferers with oligoarticular psoriatic arthritis, the place Otezla demonstrated sustained advantages in pores and skin, joint, fatigue, and ache signs by way of 48-weeks.

Blinatumomab

• Blinatumomab is a bispecific T-cell engager (BiTE) molecule concentrating on CD19.
• A Part 2 examine of blinatumomab was initiated in sufferers with autoimmune illness with an preliminary deal with systemic lupus erythematosus (SLE) with nephritis.

Inebilizumab

• Inebilizumab is a monoclonal antibody concentrating on CD19.
• A Part 2 examine of inebilizumab was initiated in sufferers with autoimmune illness with an preliminary deal with SLE with nephritis.

Efavaleukin alfa (AMG 592)

• Efavaleukin alfa is an interleukin 2 (IL 2) mutein Fc fusion protein.
• A Part 2b examine of efavaleukin alfa in sufferers with ulcerative colitis was terminated as a result of examine assembly a prespecified futility threshold, and never associated to security issues.

Ordesekimab (AMG 714/PRV-015)

• Ordesekimab is a monoclonal antibody that binds interleukin-15.
• A Part 2b examine of ordesekimab is ongoing in sufferers with nonresponsive celiac illness.

AMG 104 (AZD8630)

• AMG 104 is an inhaled anti-thymic stromal lymphopoietin (TSLP) fragment antigen-binding (Fab).
• A Part 2 examine was initiated in sufferers with bronchial asthma.

Uncommon Illness

TAVNEOS

• A Part 3, open-label examine of TAVNEOS together with Rituximab or a cyclophosphamide-containing routine, is enrolling sufferers from 6 years to

TEPEZZA

• In September, TEPEZZA was authorised for the remedy of lively Thyroid Eye Illness (TED) by Japan’s Ministry of Well being, Labour and Welfare (MHLW). Regulatory assessment in a number of further geographies continues.
• A Part 3 examine of TEPEZZA in Japan continues to enroll sufferers with power or low medical exercise rating TED.
• A Part 3 examine evaluating the subcutaneous route of administration of teprotumumab is enrolling sufferers with TED.

KRYSTEXXA

• Knowledge from the AGILE examine evaluating the security, tolerability, and efficacy of KRYSTEXXA administered with a shorter infusion period in sufferers with uncontrolled gout receiving methotrexate as co-administration can be offered on the American Faculty of Rheumatology Convergence (ACR) in November.

UPLIZNA

• The Firm lately offered outcomes of the Part 3 MINT medical examine evaluating the efficacy and security of UPLIZNA for the remedy of generalized myasthenia gravis (gMG).
  • UPLIZNA demonstrated a clinically significant and statistically vital Myasthenia Gravis Actions of Day by day Dwelling (MG-ADL) rating enchancment after two doses in comparison with placebo at Week 26: -4.2 total enchancment, -1.9 placebo adjusted (p
  • Within the acetylcholine receptor autoantibody-positive (AChR+) inhabitants, UPLIZNA demonstrated a clinically significant and statistically vital MG-ADL rating enchancment in comparison with placebo at Week 26: -4.2 total enchancment, -1.8 placebo adjusted (p = 0.0015, secondary endpoint).
  • Within the muscle-specific kinase autoantibody-positive (MuSK+) inhabitants, UPLIZNA demonstrated a clinically significant and statistically vital MG-ADL rating enchancment in comparison with placebo at Week 26: -3.9 total enchancment, -2.2 placebo adjusted (p = 0.0297, secondary endpoint).
• UPLIZNA demonstrated a statistically vital Quantitative Myasthenia Gravis (QMG) rating enchancment after two doses in comparison with placebo at week 26: -4.8 total enchancment, -2.5 placebo adjusted (p = 0.0002, secondary endpoint).
  • Within the AChR+ inhabitants, UPLIZNA demonstrated a clinically significant and statistically vital QMG rating enchancment in comparison with placebo at week 26: -4.4 total enchancment, -2.5 placebo adjusted (p = 0.0011, secondary endpoint).
  • Within the MuSK+ inhabitants, the imply change from baseline in QMG rating at Week 26 confirmed a development favoring UPLIZNA however was not statistically vital (-5.2 for UPLIZNA and -3.0 for placebo, distinction -2.3, p=0.1326).
• Sufferers who entered the examine taking corticosteroids have been tapered down beginning at Week 4 to prednisone 5 mg per day by Week 24.
• The general security outcomes throughout the placebo-controlled interval of the examine have been in keeping with the recognized security profile of UPLIZNA.

52-week information from the AChR+ cohort and from AChR+ and MuSK+ sufferers within the open-label interval of the examine can be offered at a future date.

Planning for regulatory submissions for gMG is underway.

In August, the FDA granted Breakthrough Remedy Designation for UPLIZNA within the remedy of Immunoglobulin G4-related ailments (IgG4-RD) based mostly upon information from the Part 3 MITIGATE examine. Regulatory submitting actions for IgG4-RD are underway.

MITIGATE outcomes can be offered at ACR in November.

Dazodalibep

• Dazodalibep is a fusion protein that inhibits CD40L.
• Two Part 3 research of dazodalibep in Sjögren’s illness are enrolling sufferers. The primary examine is in sufferers with moderate-to-severe systemic illness exercise, and the second examine is in sufferers with moderate-to-severe symptomatic burden and low systemic illness exercise.

Daxdilimab

• Daxdilimab is a totally human monoclonal antibody concentrating on immunoglobulin-like transcript 7 (ILT7).
• A Part 2 examine of daxdilimab is ongoing in sufferers with moderate-to-severe lively main discoid lupus erythematosus refractory to straightforward of care.
• A Part 2 examine of daxdilimab is ongoing in sufferers with dermatomyositis and antisynthetase inflammatory myositis.

Fipaxalparant

• Fipaxalparant is a lysophosphatidic acid receptor 1 (LPAR1) antagonist.
• A Part 2 examine of fipaxalparant in sufferers with idiopathic pulmonary fibrosis is full. The examine didn’t meet any of the first or secondary endpoints. Growth of fipaxalparant on this indication can be discontinued.
• A Part 2 examine of fipaxalparant has accomplished enrollment of sufferers with diffuse cutaneous systemic sclerosis.

Biosimilars

• In August, the FDA authorised PAVBLU ^TM (aflibercept-ayyh) (ABP 938), a biosimilar candidate to EYLEA ^® (aflibercept), for the remedy of retinal circumstances, together with neovascular age-related macular degeneration (moist AMD), macular edema following retinal vein occlusion, diabetic macular edema, and diabetic retinopathy.
• A randomized, double-blind pharmacokinetic similarity examine of ABP 206 in contrast with OPDIVO ^® (nivolumab) is enrolling sufferers with resected stage III or stage IV melanoma within the adjuvant setting.
• A randomized, double-blind comparative medical examine of ABP 206 in contrast with OPDIVO is enrolling sufferers with treatment-naïve unresectable or metastatic melanoma.
• A randomized, double-blind mixed pharmacokinetic/comparative medical examine of ABP 234 in comparison with KEYTRUDA ^® (pembrolizumab) is enrolling sufferers with superior or metastatic non-squamous non-small cell lung most cancers.

TEZSPIRE is being developed in collaboration with AstraZeneca.
  AMG 104 is being developed in collaboration with AstraZeneca.
  Rocatinlimab, previously AMG 451/KHK4083, is being developed in collaboration with Kyowa Kirin.
  Ordesekimab, previously AMG 714 and often known as PRV-015, is being developed in collaboration with Provention Bio, a Sanofi Firm. For the needs of the collaboration, Provention Bio conducts a medical trial and leads sure improvement and regulatory actions for this system.
  Xaluritamig, previously AMG 509, is being developed pursuant to a analysis collaboration with Xencor, Inc.
  IDE397 is an investigational MAT2A inhibitor from IDEAYA Biosciences.
EYLEA is a registered trademark of Regeneron Prescription drugs, Inc.
OPDIVO is a registered trademark of Bristol-Myers Squibb Firm.
  KEYTRUDA is a registered trademark of Merck & Co., Inc.

Non-GAAP Monetary Measures
On this information launch, administration has offered its working outcomes for the third quarters of 2024 and 2023, in accordance with U.S. Usually Accepted Accounting Rules (GAAP) and on a non-GAAP foundation. As well as, administration has offered its full 12 months 2024 EPS and tax steerage in accordance with GAAP and on a non-GAAP foundation. These non-GAAP monetary measures are computed by excluding sure gadgets associated to acquisitions, divestitures, restructuring and sure different gadgets from the associated GAAP monetary measures. Administration has offered Free Money Movement (FCF), which is a non-GAAP monetary measure, for the third quarters of 2024 and 2023. FCF is computed by subtracting capital expenditures from working money stream, every as decided in accordance with GAAP.

The Firm believes that its presentation of non-GAAP monetary measures gives helpful supplementary info to and facilitates further evaluation by buyers. The Firm makes use of sure non-GAAP monetary measures to reinforce an investor’s total understanding of the monetary efficiency and prospects for the way forward for the Firm’s regular and recurring enterprise actions by facilitating comparisons of outcomes of regular and recurring enterprise operations amongst present, previous and future intervals. The Firm believes that FCF gives an extra measure of the Firm’s liquidity.

The Firm makes use of the non-GAAP monetary measures set forth within the information launch in reference to its personal budgeting and monetary planning internally to guage the efficiency of the enterprise, together with to allocate assets and to guage outcomes relative to incentive compensation targets. The non-GAAP monetary measures are along with, not an alternative choice to, or superior to, measures of monetary efficiency ready in accordance with GAAP.

About Amgen
Amgen discovers, develops, manufactures and delivers modern medicines to assist thousands and thousands of sufferers of their combat towards a few of the world’s hardest ailments. Greater than 40 years in the past, Amgen helped to ascertain the biotechnology trade and stays on the cutting-edge of innovation, utilizing expertise and human genetic information to push past what’s recognized at this time. Amgen is advancing a broad and deep pipeline that builds on its current portfolio of medicines to deal with most cancers, coronary heart illness, osteoporosis, inflammatory ailments and uncommon ailments.

In 2024, Amgen was named one of many “World’s Most Revolutionary Firms” by Quick Firm and certainly one of “America’s Finest Massive Employers” by Forbes, amongst different exterior recognitions . Amgen is likely one of the 30 firms that comprise the Dow Jones Industrial Common ^® , and additionally it is a part of the Nasdaq-100 Index ^® , which incorporates the most important and most modern non-financial firms listed on the Nasdaq Inventory Market based mostly on market capitalization.

For extra info, go to Amgen.com and comply with Amgen on X , LinkedIn , Instagram , TikTok , YouTube and Threads .

Ahead-Wanting Statements
This information launch incorporates forward-looking statements which are based mostly on the present expectations and beliefs of Amgen. All statements, apart from statements of historic reality, are statements that might be deemed forward-looking statements, together with any statements on the end result, advantages and synergies of collaborations, or potential collaborations, with every other firm (together with BeiGene, Ltd. or Kyowa Kirin Co., Ltd.), the efficiency of Otezla ^® (apremilast) (together with anticipated Otezla gross sales development and the timing of non-GAAP EPS accretion), our acquisitions of Teneobio, Inc., ChemoCentryx, Inc., or Horizon (together with the possible efficiency and outlook of Horizon’s enterprise, efficiency and alternatives and any potential strategic advantages, synergies or alternatives anticipated because of such acquisition, and any projected impacts from the Horizon acquisition on our acquisition-related bills going ahead), in addition to estimates of revenues, working margins, capital expenditures, money, different monetary metrics, anticipated authorized, arbitration, political, regulatory or medical outcomes or practices, buyer and prescriber patterns or practices, reimbursement actions and outcomes, results of pandemics or different widespread well being issues on our enterprise, outcomes, progress, and different such estimates and outcomes. Ahead-looking statements contain vital dangers and uncertainties, together with these mentioned beneath and extra totally described within the Securities and Change Fee stories filed by Amgen, together with our most up-to-date annual report on Kind 10-Ok and any subsequent periodic stories on Kind 10-Q and present stories on Kind 8-Ok. Until in any other case famous, Amgen is offering this info as of the date of this information launch and doesn’t undertake any obligation to replace any forward-looking statements contained on this doc because of new info, future occasions or in any other case.

No forward-looking assertion might be assured and precise outcomes could differ materially from these we venture. Our outcomes could also be affected by our capability to efficiently market each new and current merchandise domestically and internationally, medical and regulatory developments involving present and future merchandise, gross sales development of lately launched merchandise, competitors from different merchandise together with biosimilars, difficulties or delays in manufacturing our merchandise and international financial circumstances. As well as, gross sales of our merchandise are affected by pricing stress, political and public scrutiny and reimbursement insurance policies imposed by third-party payers, together with governments, non-public insurance policy and managed care suppliers and could also be affected by regulatory, medical and guideline developments and home and worldwide tendencies towards managed care and healthcare price containment. Moreover, our analysis, testing, pricing, advertising and marketing and different operations are topic to intensive regulation by home and overseas authorities regulatory authorities. We or others may determine security, negative effects or manufacturing issues with our merchandise, together with our gadgets, after they’re available on the market. Our enterprise could also be impacted by authorities investigations, litigation and product legal responsibility claims. As well as, our enterprise could also be impacted by the adoption of latest tax laws or publicity to further tax liabilities. If we fail to satisfy the compliance obligations within the company integrity settlement between us and the U.S. authorities, we may grow to be topic to vital sanctions. Additional, whereas we routinely get hold of patents for our merchandise and expertise, the safety provided by our patents and patent purposes could also be challenged, invalidated or circumvented by our rivals, or we could fail to prevail in current and future mental property litigation. We carry out a considerable quantity of our business manufacturing actions at just a few key amenities, together with in Puerto Rico , and in addition rely upon third events for a portion of our manufacturing actions, and limits on provide could constrain gross sales of sure of our present merchandise and product candidate improvement. An outbreak of illness or comparable public well being risk, akin to COVID-19, and the general public and governmental effort to mitigate towards the unfold of such illness, may have a major opposed impact on the availability of supplies for our manufacturing actions, the distribution of our merchandise, the commercialization of our product candidates, and our medical trial operations, and any such occasions could have a fabric opposed impact on our product improvement, product gross sales, enterprise and outcomes of operations. We depend on collaborations with third events for the event of a few of our product candidates and for the commercialization and gross sales of a few of our business merchandise. As well as, we compete with different firms with respect to a lot of our marketed merchandise in addition to for the invention and improvement of latest merchandise. Discovery or identification of latest product candidates or improvement of latest indications for current merchandise can’t be assured and motion from idea to product is unsure; consequently, there might be no assure that any explicit product candidate or improvement of a brand new indication for an current product can be profitable and grow to be a business product. Additional, some uncooked supplies, medical gadgets and part elements for our merchandise are provided by sole third-party suppliers. Sure of our distributors, prospects and payers have substantial buying leverage of their dealings with us. The invention of great issues with a product much like certainly one of our merchandise that implicate a whole class of merchandise may have a fabric opposed impact on gross sales of the affected merchandise and on our enterprise and outcomes of operations. Our efforts to collaborate with or purchase different firms, merchandise or expertise, and to combine the operations of firms or to assist the merchandise or expertise now we have acquired, will not be profitable. There might be no assure that we can understand any of the strategic advantages, synergies or alternatives arising from the Horizon acquisition, and such advantages, synergies or alternatives could take longer to appreciate than anticipated. We could not be capable to efficiently combine Horizon, and such integration could take longer, be tougher or price greater than anticipated. A breakdown, cyberattack or info safety breach of our info expertise methods may compromise the confidentiality, integrity and availability of our methods and our information. Our inventory worth is risky and could also be affected by a lot of occasions. Our enterprise and operations could also be negatively affected by the failure, or perceived failure, of attaining our environmental, social and governance targets. The consequences of world local weather change and associated pure disasters may negatively have an effect on our enterprise and operations. World financial circumstances could enlarge sure dangers that have an effect on our enterprise. Our enterprise efficiency may have an effect on or restrict the flexibility of our Board of Administrators to declare a dividend or our capability to pay a dividend or repurchase our widespread inventory. We could not be capable to entry the capital and credit score markets on phrases which are favorable to us, or in any respect.

CONTACT: Amgen, Thousand Oaks
Elissa Snook , 609-251-1407 (media)
Justin Claeys , 805-313-9775 (buyers)

Our GAAP diluted EPS steerage doesn’t embody the impact of GAAP changes triggered by occasions which will happen subsequent to this press launch akin to acquisitions, asset impairments, litigation, modifications in honest worth of our contingent consideration obligations and modifications in honest worth of our fairness investments.

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SOURCE Amgen