Amgen 2011 Annual Report Download - page 81

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Performance graph
The following graph shows the value of an investment of $100 on December 31, 2006, in each of Amgen
common stock, the Amex Biotech Index, the Amex Pharmaceutical Index and Standard & Poor’s 500 Index
(S&P 500). All values assume reinvestment of the pretax value of dividends paid by companies included in these
indices and are calculated as of December 31 of each year. The historical stock price performance of the
Company’s common stock shown in the performance graph is not necessarily indicative of future stock price
performance.
Amgen vs. Amex Biotech, Amex Pharmaceutical and S&P 500 Indices
Comparison of Five-Year Cumulative Total Return
Value of Investment of $100 on December 31, 2006
2006 2007 2008 2009 20112010
0
50
100
150
200 Amgen (AMGN)
Amex Biotech (BTK)
Amex Pharmaceutical (DRG)
S&P 500 (SPX)
Dollar
Value
12/31/2006 12/31/2007 12/31/2008 12/31/2009 12/31/2010 12/31/2011
Amgen (AMGN) .................... $ 100.00 $ 67.98 $ 84.54 $ 82.81 $ 80.37 $ 94.98
Amex Biotech (BTK) ................ 100.00 104.28 85.80 124.91 172.04 144.79
Amex Pharmaceutical (DRG) .......... 100.00 101.01 84.76 99.15 101.64 114.77
S&P 500 (SPX) ..................... 100.00 105.48 66.93 84.28 96.78 98.81
The material in this performance graph is not soliciting material, is not deemed filed with the SEC, and is
not incorporated by reference in any filing of the Company under the Securities Act or the Exchange Act,
whether made on, before or after the date of this filing and irrespective of any general incorporation language in
such filing.
Stock repurchase program
The Company intends to continue to return capital to stockholders through share repurchases, reflecting our
confidence in the long-term value of the Company. The amount we spend, the number of shares repurchased and
the timing of such repurchases will vary based on a number of factors, including the stock price, the availability
of financing on acceptable terms, the amount and timing of dividend payments and blackout periods in which we
are restricted from repurchasing shares; and the manner of purchases may include private block purchases, tender
offers, as well as market transactions.
65