Amgen Inc. (AMGN) BofA Securities 2025 Healthcare Conference (Transcript)

Amgen Inc. (NASDAQ:AMGN) BofA Securities 2025 Healthcare Conference Call May 14, 2025 12:20 PM ET

Company Participants

Peter Griffith – Executive Vice President and Chief Financial Officer
Justin Claeys – Vice President of Investor Relations
James Bradner – Executive Vice President of Research and Development

Conference Call Participants

Tim Anderson – Bank of America Merrill Lynch

Tim Anderson

Thanks for joining us. I’m Tim Anderson, the U.S. large pharma and biotech analyst at Bank of America. And we are excited to have Amgen with us this morning. Three speakers, Peter Griffith, Executive Vice President, Chief Financial Officer since 2020. He joined from Sherwood Canyon Group, a private equity and advisory firm. And he was at Ernst & Young prior to that. We have Dr. Jay Bradner, Executive Vice President of R&D and he’s responsible, of course, for everything in the pipeline. He was with Novartis, prior to that. And we have Justin Claeys, Vice President, Investor Relations, who’s been in that role since 2023. He is been with Amgen for few decades, long time.

So it’s a fireside chat, and I think, Peter, you might make a few comments to kick things off.

Peter Griffith

Thank you, Tim, and thank you, BofA for inviting us. We are delighted to be here, and thank all of you for your interest in attending this morning. So at Amgen, we started 2025 with strong momentum financially and across the enterprise. Our performance this year reflects the growing global need for our innovative medicines and our team’s relentless focus on execution. We are seeing strength across our portfolio and our pipeline, and we expect to deliver strong growth in the near-term and through the long-term also.

In the first quarter, revenue increased 9% year-over-year, driven by 14% volume growth. The momentum was broad-based with 14 products delivering double-digit growth