安进Amgen Inc. (AMGN) 2017年年度报告「NASDAQ」.pdf

1、LETTER TO SHAREHOLDERS20172To My Fellow Shareholders,Amgen had another successful year in 2017,serving patients around the world with innovative medicines and enabling them to live longer,healthier lives.With revenues of$22.8 billion,we achieved record non-GAAP earnings per share of$12.58,1 up 8%fro

2、m the prior year,a record non-GAAP operating margin of 53.5%,1 and record free cash flow of$10.5 billion.1 Consistent with our belief in the long-term value of innovation,we invested$3.5 billion1 in research and development in support of a very promising pipeline of new medicines.Amgen delivered a o

3、ne-year total shareholder return of 22%and a five-year return of 125%,outperforming the one-and five-year average total shareholder return of our peer group of 10%and 101%,respectively.A Dynamic EnvironmentAmgen was founded in 1980.For most of our history,we competed in a handful of specialty therap

4、eutic categories in which there was relatively little competition.The healthcare ecosystem was fundamentally stable,with clearly defined roles for those operating within it.Innovators like Amgen discovered and developed new treatments.Physicians and hospitals provided those treatments to patients.Go

5、vernments and insurers paid for those treatments.That world no longer exists.LETTER TO SHAREHOLDERSRobert A.Bradway,Chairman and Chief Executive Officer,Amgen Inc.2017 RESULTS$22.8 billionREVENUE$12.58NON-GAAP EARNINGS PER SHARE153.5%NON-GAAP OPERATING MARGIN1$10.5 billionFREE CASH FLOW1Today,we are

6、 seeing intensifying competition across our business from large,well-established players and smaller,nimble newcomers.We see a policy and access environment around the world that is increasingly challenging to innovation.And we are seeing traditional roles in the healthcare ecosystem blur as compani