Amgen – Amgen Inc (AMGN) Q4 2020 Earnings Call Transcript
Amgen Inc (NASDAQ: AMGN) Q4 2020 earnings call dated Feb. 02, 2021.
My name is Erica and I will be your conference facilitator today for Amgen’s Fourth Quarter 2020 Financial Results Conference Call. [Operator Instructions]
I would now like to introduce Arvind Sood, Vice President of Investor Relations. Mr. Sood, you may now begin.
Arvind Sood — Vice President, Investor Relations
Okay. Thank you, Erika. Good afternoon everybody. Welcome to our call to review our Q4 and full year financial results for 2020. I would say the strong execution despite the pandemic and pipeline advancement are two themes that were pervasive. So let’s get after it. We’ll stick to an efficient format of limited prepared comments, a one question rule as Erika pointed out and the overall duration of the call to one hour.
Lines have been posted, just a quick reminder that we’ll use non-GAAP financial measures in our presentation and some of the statements will be forward-looking. Our SEC filings identify factors that could cause our actual results to differ materially.
So with that, I would like to turn the call over to our Chairman and CEO, Bob Bradway. Bob?
Robert A. Bradway — Chairman and Chief Executive Officer
Great, thank you Arvind and thank all of you for joining our call. I’ll start today by discussing Amgen’s performance in 2020 and then provide some perspective on our priorities for 2021. By any measure 2020 was a very successful year for us. Despite the disruption of COVID-2019, we delivered strong sales and earnings driven by volume growth of 15% for our products. We advanced our innovative pipeline, most notably sotorasib and as Tezepelumaba, both of which have received Breakthrough Therapy Designation from the FDA. We successfully integrated Otezla strengthening our decades long leadership in implementation with a $2 billion plus product that we believe has runway for further global growth.
We grew our sales outside the US to more than $6 billion, living on — delivering on long-term goals by expanding our presence in China and Japan with successful transactions in both markets. And we did all this while staying focused on the health and safety of our 24,000 employees around the world and to all of them I want to say thank you for a job well done. As we look to 2021, we’re embracing three realities. First, COVID-19 is leading to some lasting changes in how we do business. For example, we expect to continue leveraging digital capabilities, call on customers and run clinical trials around the world with improved speed, efficiency and effectiveness. Second, we expect ongoing pressure on drug prices across the industry. We are fortunate to have products like Repatha, Prolia and Aimovig that meet the needs of millions of patients and can grow through increased penetration of the appropriate patient populations.
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