Amgen

The Company generated $1.9 billion of free cash flow in the second quarter of 2025 versus $2.2 billion in the second quarter of 2024, driven by 2024 tax payments deferred to 2025 and higher capital expenditures, partially offset by business performance.

SEC original ↗Amgen — Earnings release (8-K exhibit)EX-99Aug 5, 2025

References in this release to non-GAAP measures, measures presented on a non-GAAP basis, and free cash flow (computed by subtracting capital expenditures from operating cash flow) refer to non-GAAP financial measures.

SEC original ↗Amgen — Earnings release (8-K exhibit)EX-99Aug 5, 2025

pts percentage points * Change in excess of 100% N A not applicable Cash Flow and Balance Sheet The Company generated $1.9 billion of free cash flow in the second quarter of 2025 versus $2.2 billion in the second quarter of 2024, driven by timing of 2024 tax payments deferred to 2025 and higher capital expenditures, partially offset by business performance.

SEC original ↗Amgen — Earnings release (8-K exhibit)EX-99Aug 5, 2025

The Company declared a second quarter 2025 dividend on March 4, 2025 of $2.38 per share that was paid on June 6, 2025 to all stockholders of record as of May 16, 2025, representing a 6% increase from the same period in 2024.

SEC original ↗Amgen — Earnings release (8-K exhibit)EX-99Aug 5, 2025

The Company retired $1.4 billion of debt during the second quarter of 2025, and $4.3 billion year to date.

SEC original ↗Amgen — Earnings release (8-K exhibit)EX-99Aug 5, 2025

During the second quarter of 2025, there were no repurchases of shares of common stock.

SEC original ↗Amgen — Earnings release (8-K exhibit)EX-99Aug 5, 2025

The dose-expansion and optimization phase of a Phase 1 2 study of subcutaneous blinatumomab is ongoing in adult patients with relapsed or refractory CD19-positive Ph-negative B-ALL.

SEC original ↗Amgen — Earnings release (8-K exhibit)EX-99Aug 5, 2025

A Phase 1 1b 2 study of AMG 193 is enrolling patients with advanced MTAP-null solid tumors in the dose-expansion portion of the study.

SEC original ↗Amgen — Earnings release (8-K exhibit)EX-99Aug 5, 2025

or Horizon Therapeutics plc (including the prospective performance and outlook of Horizon's business, performance and opportunities, and any potential strategic benefits, synergies or opportunities expected as a result of such acquisition), as well as estimates of revenues, operating margins, capital expenditures, cash, other financial metrics, expected legal, arbitration, political, regulatory or clinical results or practices, customer and prescriber patterns or practices, reimbursement activities and outcomes, effects of pandemics or other widespread health problems on our business, outcomes, progress, and other such estimates and results.

SEC original ↗Amgen — Earnings release (8-K exhibit)EX-99Aug 5, 2025

There can be no guarantee that we will be able to realize any of the strategic benefits, synergies or opportunities arising from the Horizon acquisition, and such benefits, synergies or opportunities may take longer to realize than expected.

SEC original ↗Amgen — Earnings release (8-K exhibit)EX-99Aug 5, 2025

Generally, the tax impact of adjustments, including the amortization of intangible assets and acquired inventory, gains and losses on our investments in equity securities and expenses related to restructuring and cost-savings initiatives, depends on whether the amounts are deductible in the respective tax jurisdictions and the applicable tax rate(s) in those jurisdictions.

SEC original ↗Amgen — Earnings release (8-K exhibit)EX-99Aug 5, 2025

Other operating expenses include litigation expenses.

SEC original ↗Amgen — Earnings release (8-K exhibit)EX-99Aug 5, 2025

This guidance includes the estimated impact of implemented tariffs, but does not account for any tariffs or potential pricing actions announced or described but not implemented as well as any tariffs, sector specific tariffs, or pricing actions that could be implemented in the future.

SEC original ↗Amgen — Earnings release (8-K exhibit)EX-99Aug 5, 2025

Forward-looking statements involve significant risks and uncertainties, including those discussed below and more fully described in the Securities and Exchange Commission reports filed by Amgen, including our most recent annual report on Form 10-K and any subsequent periodic reports on Form 10-Q and current reports on Form 8-K.

SEC original ↗Amgen — Earnings release (8-K exhibit)EX-99Aug 5, 2025

Our business may be impacted by government investigations, litigation and product liability claims.

SEC original ↗Amgen — Earnings release (8-K exhibit)EX-99Aug 5, 2025

Further, while we routinely obtain patents for our products and technology, the protection offered by our patents and patent applications may be challenged, invalidated or circumvented by our competitors, or we may fail to prevail in present and future intellectual property litigation.

SEC original ↗Amgen — Earnings release (8-K exhibit)EX-99Aug 5, 2025

Our GAAP diluted EPS guidance does not include the effect of GAAP adjustments triggered by events that may occur subsequent to this press release such as acquisitions, asset impairments, litigation, changes in fair value of our contingent consideration obligations and changes in fair value of our equity investments.

SEC original ↗Amgen — Earnings release (8-K exhibit)EX-99Aug 5, 2025