1、2 0 1 8 L E T T E R TO S H A R E H O L D E R S 2LETTER TO SHAREHOLDERSRobert A.Bradway,Chairman and Chief Executive Officer,Amgen Inc.of 15%and a five-year return of 93%,outperforming our peer group and the S&P 500 over both time periods.We also returned$21.4 billion to shareholders in 2018 in the f
2、orm of dividends and share repurchases.BUILDING OUR CAPACITY TO INNOVATE AND GROWOur achievements in 2018 capped a five-year period of intense transformation during which we met or exceeded the ambitious financial commitments that we made to our shareholders(see opposite page).Simultaneouslyand crit
3、icallywe continued to set the stage for our future,strengthening Amgens long-term ability to innovate,compete and grow.During our transformation,we generated approximately$1.9 billion in gross cost savings that we redeployed into our business while embedding a set of productivity capabilities throug
4、hout our organization.These capabilities open new options for Amgens business as we have built foundational flexibility in what is a highly dynamic operating environment.Let me share some additional highlights of our transformation,framed through our major 2018 achievements.Innovation continues to b
5、e the lifeblood of our business.Over the past five years,we invested nearly$19 billion1 in R&D and,as a result,are now advancing a record number of clinical assets through our pipeline.This includes a blossoming early-stage oncology pipeline with approximately 20 molecules To My Fellow Shareholders,
6、2018 was another outstanding year for Amgen.Through our progress in serving patients around the world with innovative medicines to treat serious diseases,we achieved record levels of financial performance and provided an attractive return to our shareholders.Total revenues in 2018 were our highest e