AMGEN RELEASES ANNUAL ENVIRONMENTAL, SOCIAL & GOVERNANCE REPORT

Rhea-AI Summary

Amgen (NASDAQ:AMGN) has released its 2021 Environmental, Social & Governance (ESG) report, outlining its commitment to public health and sustainability. The report highlights four key areas: Healthy People, providing $2.2 billion in free medicines; Healthy Society, impacting 27 million through no-cost science education; Healthy Planet, pursuing carbon neutrality by 2027; and A Healthy Amgen, integrating ESG goals into business practices. Recognized by various organizations, Amgen continues to emphasize its role in improving health outcomes and addressing societal challenges.

Positive

• Provided $2.2 billion worth of medicines to uninsured patients in 2021, promoting health equity.
• Engaged over 27 million students globally through no-cost science education programs in 2021.
• Aiming for carbon neutrality in operations by 2027, reflecting commitment to sustainability.
• Incorporated ESG goals into Company performance metrics for 2022, enhancing responsibility focus.

Negative

• None.

THOUSAND OAKS, Calif., May 2, 2022 /PRNewswire/ -- Amgen (NASDAQ:AMGN) today released its 2021 Environmental, Social & Governance (ESG) report, providing a comprehensive overview of the many ways the Company is doing its part to build a better, healthier world. 

To view the Multimedia News Release, please visit: https://www.multivu.com/players/English/8812857-amgen-releases-annual-environmental-social-governance-report/ 

"Our core business of improving human health, in and of itself, contributes meaningfully to the greater good," said Judy Brown, senior vice president, Corporate Affairs at Amgen, "and through our ESG programs, we are building on that foundation to address other challenging issues facing our society."

Amgen's latest ESG report tracks the Company's progress across four categories: 

• Healthy People: We focus on removing barriers that limit equitable access to healthcare so that people can live their healthiest lives.  In 2021, for example, the Amgen Safety Net Foundation¹ provided $2.2 billion² of the Company's medicines, at no cost, to uninsured or underinsured patients in the U.S.
  
  
  
• Healthy Society: We work toward a more just society for our employees and the people we serve. In 2021, no-cost science education programs funded by the Amgen Foundation¹ reached more than 27 million students and educators globally, inspiring the next generation of innovators and helping to level the playing field for those who traditionally have lacked access to world-class science education.
  
  
  
• Healthy Planet: We prioritize sustainability and aim to minimize our environmental impact to preserve natural resources for generations to come.  Amgen made continued progress last year toward its goal of achieving carbon neutrality in our operations by 2027³.
  
  
  
• A Healthy Amgen: We hold ourselves to high standards in our operations – working to ensure our actions and culture reflect Amgen values.  In 2021, Amgen added an ESG goal to the Company's goals for our annual incentive plans to focus our entire Company on activities supporting achievement of our 2027 environmental sustainability targets and to strengthen and improve the Company's diversity, inclusion, and belonging efforts.  To further our progress, Amgen has included an ESG goal again for 2022. 

Amgen's ESG progress is reflected in the wide range of recognitions the Company has earned.  In just the past six months, Amgen has been named to Newsweek magazine's list of "America's Most Responsible Companies" for the third consecutive year; JUST Capital's list of "America's Most JUST Companies" for the fifth consecutive year; Barron's list of "America's Most Sustainable Companies" for the second consecutive year; and the Human Rights Campaign Foundation's list of "Best Places to Work for LGBTQ+ Equality" for the sixth consecutive year.

About Amgen
Amgen is committed to unlocking the potential of biology for patients suffering from serious illnesses by discovering, developing, manufacturing, and delivering innovative human therapeutics. This approach begins by using tools like advanced human genetics to unravel the complexities of disease and understand the fundamentals of human biology.

Amgen focuses on areas of high unmet medical need and leverages its expertise to strive for solutions that improve health outcomes and dramatically improve people's lives. A biotechnology pioneer since 1980, Amgen has grown to be one of the world's leading independent biotechnology companies, has reached millions of patients around the world and is developing a pipeline of medicines with breakaway potential.

Amgen is one of the 30 companies that comprise the Dow Jones Industrial Average and is also part of the Nasdaq-100 index.  In 2021, Amgen was named one of the 25 World's Best Workplaces™ by Fortune and Great Place to Work™ and one of the 100 most sustainable companies in the world by Barron's.

Forward-Looking Statements
This news release contains forward-looking statements that are based on the current expectations and beliefs of Amgen. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements, including any statements on the outcome, benefits and synergies of collaborations, or potential collaborations, with any other company (including BeiGene, Ltd., Kyowa-Kirin Co., Ltd., or any collaboration to manufacture therapeutic antibodies against COVID-19), the performance of Otezla® (apremilast) (including anticipated Otezla sales growth and the timing of non-GAAP EPS accretion), the Five Prime Therapeutics, Inc. acquisition, or the Teneobio, Inc. acquisition, as well as estimates of revenues, operating margins, capital expenditures, cash, other financial metrics, expected legal, arbitration, political, regulatory or clinical results or practices, customer and prescriber patterns or practices, reimbursement activities and outcomes, effects of pandemics or other widespread health problems such as the ongoing COVID-19 pandemic on our business, and other such estimates and results. Forward-looking statements involve significant risks and uncertainties, including those discussed below and more fully described in the Securities and Exchange Commission reports filed by Amgen, including our most recent annual report on Form 10-K and any subsequent periodic reports on Form 10-Q and current reports on Form 8-K. Unless otherwise noted, Amgen is providing this information as of the date of this news release and does not undertake any obligation to update any forward-looking statements contained in this document as a result of new information, future events or otherwise.

No forward-looking statement can be guaranteed and actual results may differ materially from those we project. Our results may be affected by our ability to successfully market both new and existing products domestically and internationally, clinical and regulatory developments involving current and future products, sales growth of recently launched products, competition from other products including biosimilars, difficulties or delays in manufacturing our products and global economic conditions. In addition, sales of our products are affected by pricing pressure, political and public scrutiny and reimbursement policies imposed by third-party payers, including governments, private insurance plans and managed care providers and may be affected by regulatory, clinical and guideline developments and domestic and international trends toward managed care and healthcare cost containment. Furthermore, our research, testing, pricing, marketing and other operations are subject to extensive regulation by domestic and foreign government regulatory authorities. We or others could identify safety, side effects or manufacturing problems with our products, including our devices, after they are on the market. Our business may be impacted by government investigations, litigation and product liability claims. In addition, our business may be impacted by the adoption of new tax legislation or exposure to additional tax liabilities. If we fail to meet the compliance obligations in the corporate integrity agreement between us and the U.S. government, we could become subject to significant sanctions. Further, while we routinely obtain patents for our products and technology, the protection offered by our patents and patent applications may be challenged, invalidated or circumvented by our competitors, or we may fail to prevail in present and future intellectual property litigation. We perform a substantial amount of our commercial manufacturing activities at a few key facilities, including in Puerto Rico, and also depend on third parties for a portion of our manufacturing activities, and limits on supply may constrain sales of certain of our current products and product candidate development. An outbreak of disease or similar public health threat, such as COVID-19, and the public and governmental effort to mitigate against the spread of such disease, could have a significant adverse effect on the supply of materials for our manufacturing activities, the distribution of our products, the commercialization of our product candidates, and our clinical trial operations, and any such events may have a material adverse effect on our product development, product sales, business and results of operations. We rely on collaborations with third parties for the development of some of our product candidates and for the commercialization and sales of some of our commercial products. In addition, we compete with other companies with respect to many of our marketed products as well as for the discovery and development of new products. Discovery or identification of new product candidates or development of new indications for existing products cannot be guaranteed and movement from concept to product is uncertain; consequently, there can be no guarantee that any particular product candidate or development of a new indication for an existing product will be successful and become a commercial product. Further, some raw materials, medical devices and component parts for our products are supplied by sole third-party suppliers. Certain of our distributors, customers and payers have substantial purchasing leverage in their dealings with us. The discovery of significant problems with a product similar to one of our products that implicate an entire class of products could have a material adverse effect on sales of the affected products and on our business and results of operations. Our efforts to collaborate with or acquire other companies, products or technology, and to integrate the operations of companies or to support the products or technology we have acquired, may not be successful. A breakdown, cyberattack or information security breach could compromise the confidentiality, integrity and availability of our systems and our data. Our stock price is volatile and may be affected by a number of events. Our business and operations may be negatively affected by the failure, or perceived failure, of achieving our environmental, social and governance objectives. The effects of global climate change and related natural disasters could negatively affect our business and operations. Global economic conditions may magnify certain risks that affect our business. Our business performance could affect or limit the ability of our Board of Directors to declare a dividend or our ability to pay a dividend or repurchase our common stock. We may not be able to access the capital and credit markets on terms that are favorable to us, or at all.

CONTACT: Amgen, Thousand Oaks
Jessica Akopyan, 805-440-5721 (media)
Michael Strapazon, 805-313-5553 (media)
Annie Kasparian, 805-447-1060 (investors)

¹ Amgen Safety Net Foundation and The Amgen Foundation, Inc. are separate legal entities entirely funded by Amgen.
² Valued at Wholesale Acquisition Cost.
³ Carbon neutrality goal refers to Scope 1 and 2 emissions.

For more information, visit www.amgen.com and follow us on www.twitter.com/amgen.

 

 

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SOURCE Amgen

FAQ

What did Amgen report in its 2021 ESG report?

Amgen's 2021 ESG report highlighted its contributions to public health, education, and sustainability, emphasizing $2.2 billion in free medicines and a plan for carbon neutrality by 2027.

How much did Amgen invest in free medicines in 2021?

In 2021, Amgen provided $2.2 billion worth of medicines for free to uninsured or underinsured patients.

What recognition did Amgen receive for its ESG efforts?

Amgen was named one of 'America's Most Responsible Companies' and recognized for sustainability initiatives by multiple organizations.

What are Amgen's goals for sustainability?

Amgen aims to achieve carbon neutrality in its operations by 2027 as part of its sustainability goals.