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Amgen 2006 Annual Report 2
“We tackle difficult medical and scientific challenges because
we are committed to making a dramatic difference for patients.”
Dear Stockholders,
I am pleased to report that Amgen delivered excellent performance
in 2006. We grew revenues and adjusted earnings per share* by
15 and 22 percent, respectively, while increasing our investment
in research and development by nearly 40 percent to $3.2 billion.*
This level of R&D investment is necessary to deliver on the
promise of our pipeline, and we are already seeing early returns.
It felt good to see our first cancer therapeutic reaching patients.
We received U.S. approval for Vectibix™ to treat metastatic
colorectal cancer in patients whose disease has progressed
after standard chemotherapy. For these gravely ill patients who
have few treatment choices left, Vectibix™ offers a new option
and hope for more time. Oncologists’ acceptance of Vectibix™
so far has exceeded our expectations, which encourages us as
we work to bring this important new medicine to more patients.
Our progress in R&D has been truly impressive. Our researchers
discovered 12 new lead molecules, making 2006 their most
productive year so far. At the same time, Amgen ran more
large late-stage clinical trials than ever before, including nine
“mega-trials” involving more than 200 sites each. As of year-end,
about 41,000 patients were enrolled in Amgen trials in 39 countries.
On the commercial side, we expanded our global footprint as
we entered new markets. Amgen’s international business has
become an increasingly significant contributor to our growth.
* Non-GAAP financial measure. See reconciliations on page 33.