Document:

Registration Rights Agreement

 Exhibit 4.3 
  
 EXECUTION COPY 
  

  
 Registration Rights
Agreement 
  
 Dated As of February 17, 2006

  
 between 
  
 Amgen Inc. 
  
 and 
  
 Merrill Lynch, Pierce, Fenner & Smith 
 Incorporated 
  
 and 
  
 Morgan Stanley & Co.
Incorporated 
  

 REGISTRATION RIGHTS AGREEMENT 
  
 This Registration Rights Agreement (the “Agreement”) is made and entered into this 17th day of February, 2006, among Amgen Inc., a Delaware corporation (the “Company”) and Merrill Lynch, Pierce,
Fenner & Smith Incorporated (“Merrill Lynch”) and Morgan Stanley & Co. Incorporated (“Morgan Stanley”), acting on behalf of the several parties named in Schedule A to the Purchase Agreement (as defined
below) (collectively, the “Initial Purchasers”). 
  
 This Agreement is made pursuant to the Purchase Agreement, dated February 14, 2006, among the Company and Merrill Lynch and Morgan Stanley, as representatives for the Initial Purchasers (the “Purchase Agreement”),
which provides for the sale by the Company to the Initial Purchasers of (i) $2,500,000,000 aggregate principal amount of the Company’s 0.125% Convertible Senior Notes due 2011 (the “2011 Notes”) and
(ii) $2,500,000,000 aggregate principal amount of the Company’s 0.375% Convertible Senior Notes due 2013 (the “2013 Notes,” and together with the shares of Common Stock (as defined below) into which the 2011 Notes and the
2013 Notes are convertible, the “Securities”). In order to induce the Initial Purchasers to enter into the Purchase Agreement, the Company has agreed to provide the registration rights set forth in this Agreement. The execution of
this Agreement is a condition to the closing under the Purchase Agreement. 
  
 In consideration of the foregoing, the parties hereto agree as follows: 
  
 1. Definitions. 
  
 As used in this Agreement, the following capitalized defined terms shall have the following meanings: 
  
 “1933 Act” shall mean the Securities Act of
1933, as amended. 
  
 “1934 Act”
shall mean the Securities Exchange Act of l934, as amended. 
  
 “1939 Act” shall mean the Trust Indenture Act of 1939, as amended. 
  
 “Closing Date” shall have the meaning given to it in the Purchase Agreement. 
  
 “Common Stock” shall mean any shares of
common stock, $.0001 par value, of the Company and any other shares of common stock as may constitute “Common Stock” for purposes of the Indentures. 
  

“Company” shall have the meaning set forth in the preamble and shall also include the Company’s successors.

  
 “Depositary” shall mean The
Depository Trust Company, or any other depositary appointed by the Company, provided, however, that such depositary must have an address in the Borough of Manhattan, in the City of New York. 
  
 “Effectiveness Period” shall have the
meaning set forth in Section 2.1(b). 
  

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 “Final Memorandum” shall mean the final offering memorandum dated
February 14, 2006. 
  
 “Free Writing
Prospectus” shall have the meaning set forth in Rule 405 of the 1933 Act. 
  
 “Holder” shall mean any Initial Purchaser, for so long as it owns any Registrable Securities, and each of its successors,
assigns and direct and indirect transferees who become registered owners of Registrable Securities under the Indentures. 
  
 “Indentures” shall mean, collectively, the Indenture relating to the 2011 Notes, dated as of the date hereof, between the
Company and JPMorgan Chase Bank, N.A., as Trustee, as the same may be amended, supplemented, waived or otherwise modified from time to time in accordance with the terms thereof, and the Indenture relating to the 2013 Notes, dated as of the date
hereof, between the Company and JPMorgan Chase Bank, N.A., as Trustee, as the same may be amended, supplemented, waived or otherwise modified from time to time in accordance with the terms thereof. 
  
 “Initial Purchasers” shall have the meaning
set forth in the preamble. 
  
 “Issuer
Free Writing Prospectus” shall have the meaning set forth in Rule 433 of the 1933 Act. 
  
 “Liquidated Damages” shall have the meaning set forth in Section 2.4. 
  
 “Majority Holders” shall mean the Holders
of a majority of the aggregate principal amount of outstanding Registrable Securities (assuming conversion of all Securities into Common Stock); provided, that whenever the consent or approval of Holders of a specified percentage of
Registrable Securities is required hereunder, Registrable Securities held by the Company or any Affiliate (as defined in the Indentures) of the Company shall be disregarded in determining whether such consent or approval was given by the Holders of
such required percentage amount. 
  
 “Person” shall mean an individual, partnership (general or limited), corporation, limited liability company, trust, unincorporated organization or other entity, or a government or agency or political subdivision thereof.

  
 “Prospectus” shall mean the
prospectus relating to the Securities included in a Shelf Registration Statement, including any preliminary prospectus, and any such prospectus as amended or supplemented by any prospectus supplement, including any such prospectus supplement with
respect to the terms of the offering of any portion of the Registrable Securities covered by a Shelf Registration Statement, and by all other amendments and supplements to a prospectus, including post-effective amendments, and in each case including
all materials incorporated by reference therein. 
  
 “Purchase Agreement” shall have the meaning set forth in the preamble. 
  

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 “Registrable Securities” shall mean all or any of the Securities;
provided, however, that any such Securities shall cease to be Registrable Securities when (i) a Shelf Registration Statement with respect to such Securities shall have become effective under the 1933 Act and such Securities shall have
been sold or transferred pursuant to such Shelf Registration Statement, (ii) such Securities have been or may be sold or transferred to the public pursuant to Rule l44 (or any similar provision then in force, including Rule 144(k) but not Rule
144A) under the 1933 Act, or (iii) such Securities shall have ceased to be outstanding. 
  
 “Registration Default” shall have the meaning set forth in Section 2.4. 
  
 “Registration Expenses” shall mean any and
all expenses incident to performance of or compliance by the Company with this Agreement, including without limitation: (i) all SEC, stock exchange or National Association of Securities Dealers, Inc. (the “NASD”) registration
and filing fees, including, if applicable, the fees and expenses of any “qualified independent underwriter” (and its counsel) that is required to be retained by any holder of Registrable Securities in accordance with the rules and
regulations of the NASD, (ii) all fees and expenses incurred in connection with compliance with state securities or blue sky laws and compliance with the rules of the NASD (including reasonable fees and disbursements of counsel for any
underwriters or Holders in connection with blue sky qualification of any of the Registrable Securities and any filings with the NASD), (iii) all expenses of the Company in preparing or assisting in preparing, word processing, printing and
distributing any Shelf Registration Statement, any Prospectus, any amendments or supplements thereto, any securities sales agreements and other documents relating to the performance of and compliance with this Agreement, (iv) all fees and
expenses incurred in connection with the listing, if any, of any of the Registrable Securities on any securities exchange or exchanges, (v) all rating agency fees, if any (vi) the fees and disbursements of counsel for the Company and of
the independent public accountants of the Company, including the expenses of any special audits or “comfort” letters required by or incident to such performance and compliance, (vii) the reasonable fees and expenses of the Trustee,
and any escrow agent or custodian, (viii) the reasonable fees and expenses (not to exceed $10,000) of a single counsel to the Holders in connection with the Shelf Registration Statement, which counsel shall be selected by the Majority Holders,
and (ix) any fees and expenses of any special experts retained by the Company in connection with any Shelf Registration Statement, but excluding any underwriting discounts and commissions and transfer taxes, if any, relating to the sale or
disposition of Registrable Securities by a Holder. 
  
 “SEC” shall mean the Securities and Exchange Commission or any successor agency or government body performing the functions currently performed by the United States Securities and Exchange Commission. 
  
 “Securities” shall have the meaning set
forth in the preamble. 
  
 “Shelf
Registration” shall mean a registration effected pursuant to Section 2.1. 
  
 “Shelf Registration Statement” shall mean a “shelf” registration statement of the Company pursuant to the
provisions of Section 2.1 of this Agreement which covers all of the Registrable Securities on an appropriate form under Rule 415 under the 1933 Act, or any similar rule that may be adopted by the SEC, and all amendments and supplements to such
registration 

  

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statement, including post-effective amendments, in each case including the Prospectus contained therein, all exhibits thereto and all materials incorporated
by reference therein; provided, however, that a registration statement shall not be deemed a Shelf Registration Statement until such time as it includes a Prospectus relating to the Securities. 
  
 “Suspension Period” shall have the meaning
set forth in Section 2.5. 
  
 “Trustee” shall mean the trustee with respect to the Securities under the Indentures. 
  
 2. Registration Under the 1933 Act. 
  
 2.1 Shelf Registration. 
  
 (a) The Company shall, at its cost, file with the SEC, and use its reasonable efforts to cause to become effective a Shelf Registration
Statement relating to the offer and sale of the Registrable Securities by the Holders that have provided the information pursuant to Section 2.1(c) no later than 270 days after the Closing Date. 
  
 (b) The Company shall, at its cost, use its reasonable
efforts, subject to Section 2.5, to keep the Shelf Registration Statement continuously effective in order to permit the Prospectus forming part thereof to be usable by Holders for a period of two years from the Closing Date, or until the
Securities cease to be Registrable Securities (the “Effectiveness Period”). 
  
 (c) Notwithstanding any other provision hereof, no Holder of Registrable Securities may include any of its Registrable Securities in the
Shelf Registration Statement pursuant to this Agreement unless the Holder furnishes to the Company a fully completed notice and questionnaire in the form attached as Annex A to the Final Memorandum (the “Questionnaire”) and such
other information in writing as the Company may reasonably request in writing for use in connection with the Shelf Registration Statement or Prospectus included therein and in any application to be filed with or under state securities laws. At least
30 days prior to the filing of the Shelf Registration Statement, the Company will provide notice to the Holders of its intention to file the Shelf Registration Statement; provided, however that if the Company elects to register the
Registrable Securities pursuant to a Prospectus to a shelf registration statement that has already been declared effective, the Company will provide notice to the Holders of its intention to file the initial Prospectus at least 30 days prior to such
filing. In order to be named as a selling securityholder in the Shelf Registration Statement or Prospectus at the time of effectiveness of the Shelf Registration Statement or such Prospectus, as applicable, each Holder must no later than 20 days
following notice by the Company of such filing, furnish the completed Questionnaire and such other information that the Company may reasonably request in writing, if any, to the Company in writing and the Company will include the information from
the completed Questionnaire and such other information, if any, in the Shelf Registration Statement and the Prospectus, as necessary and in a manner, so that upon effectiveness of the Shelf Registration Statement the Holder will be permitted to
deliver the Prospectus to 

  

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purchasers of the Holder’s Registrable Securities. From and after the date that the Shelf Registration Statement becomes effective, upon receipt of a
completed Questionnaire and such other information that the Company may reasonably request in writing, if any, the Company will use its reasonable efforts to file any amendments or supplements to the Shelf Registration Statement necessary for such
Holder to be named as a selling securityholder in the Prospectus contained therein to permit such Holder to deliver the Prospectus to purchasers of the Holder’s Securities (subject to the Company’s right to suspend the Shelf Registration
Statement as described in Section 2.5 below); provided, however, that the Company shall not be required to file any such amendment or supplement to the Shelf Registration Statement until such time as the Company has received completed
questionnaires with respect to at least $100 million aggregate principal amount of Registrable Securities and in no event more than once in any calendar quarter. Holders that do not deliver a completed written Questionnaire and such other
information, as provided for in this Section 2.1(c), will not be named as selling securityholders in the Prospectus. Each Holder named as a selling securityholder in the Prospectus agrees to promptly furnish to the Company all information
required to be disclosed in order to make information previously furnished to the Company by the Holder not materially misleading and any other information regarding such Holder and the distribution of such Holder’s Registrable Securities as
the Company may from time to time reasonably request in writing. 
  
 (d) Each Holder agrees that if such Holder wishes to sell Registrable Securities pursuant to a Shelf Registration Statement and related Prospectus it will do so only in accordance with Section 2.1(c) and
Section 2.5. Each Holder agrees not to sell any Registrable Securities pursuant to the Shelf Registration Statement without delivering, or causing to be delivered, a Prospectus to the purchaser thereof and, following termination of the
Effectiveness Period, to notify the Company, within ten days of a written request by the Company, of the amount of Registrable Securities sold pursuant to the Shelf Registration Statement and, in the absence of a response, the Company may assume
that all of such Holder’s Registrable Securities have been so sold. 
  
 (e) The Company represents and agrees that, unless it obtains the prior consent of a majority of the Registrable Securities that are registered under the Shelf Registration Statement at such time or the consent of the
managing underwriter in connection with any underwritten offering of Registrable Securities, and each Holder represents and agrees that, unless it obtains the prior consent of the Company and any such underwriter, it will not make any offer relating
to the Securities that would constitute an Issuer Free Writing Prospectus, or that would otherwise constitute a “free writing prospectus,” as defined in Rule 405, required to be filed with the SEC. The Company represents that any Issuer
Free Writing Prospectus will not include any information that conflicts with the information contained in the Shelf Registration Statement or the Prospectus and, any Issuer Free Writing Prospectus, when taken together with the information in the
Shelf Registration Statement and the Prospectus, will not include any untrue statement of a material fact or omit to state any material fact necessary in order to make the statements therein, in light of the circumstances under which they were made,
not misleading. 
  

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 The Company agrees to supplement or amend the Shelf Registration Statement if required by the rules,
regulations or instructions applicable to the registration form used by the Company if required by the 1933 Act, or to the extent the Company does not reasonably object, as reasonably requested by the Initial Purchasers with respect to information
relating to such Initial Purchaser or by the Trustee on behalf of the Holders with respect to information relating to such Holder, and to furnish to the Holders of Registrable Securities copies of any such supplement or amendment promptly after its
being used or filed with the SEC. 
  
 2.2 Expenses. The
Company shall pay all Registration Expenses in connection with the registration pursuant to Section 2.1. Each Holder shall pay all underwriting discounts and commissions and transfer taxes, if any, relating to the sale or disposition of such
Holder’s Registrable Securities pursuant to the Shelf Registration Statement. 
  
 2.3 Effectiveness. After a Shelf Registration Statement is effective, if the offering of Registrable Securities pursuant to a Shelf Registration Statement is interfered with by any stop order, injunction or
other order or requirement of the SEC or any other governmental agency or court, such Shelf Registration Statement will be deemed not to have been effective during the period of such interference, until the offering of Registrable Securities
pursuant to such Shelf Registration Statement may legally resume. 
  
 2.4 Interest. In the event that (a) a Shelf Registration Statement is not filed with the SEC and become effective on or before the 270th calendar day following the Closing Date, (b) after effectiveness, subject to Section 2.5, the Shelf Registration Statement fails to be effective or usable by the Holders without being
succeeded within seven business days by a post-effective amendment or a report filed with the SEC pursuant to the 1934 Act that cures the failure to be effective or usable, or (c) the Shelf Registration Statement is unusable by the Holders for
any reason, and the number of days for which the Shelf Registration Statement shall not be usable exceeds the Suspension Period (as defined in Section 2.5) (each such event being a “Registration Default”), additional interest,
as liquidated damages (“Liquidated Damages”), will accrue at a rate per annum of 0.125% of the principal amount of the Registrable Securities then remaining for the first 90-day period from the day following the Registration
Default, and thereafter at a rate per annum of 0.25% of the principal amount of the Securities; provided that, in no event shall Liquidated Damages accrue at a rate per annum exceeding 0.25% of the issue price of the Securities; provided
further that no Liquidated Damages shall accrue after the second anniversary of the Closing Date; provided further that Liquidated Damages shall not accrue under clause (b) and (c) above with respect to any Holder that
(x) does not submit a properly completed Questionnaire, and (y) is not named as a selling securityholder in the Shelf Registration Statement. Upon the cure of all Registration Defaults then continuing, the accrual of Liquidated Damages
will automatically cease and the interest rate borne by the Securities will revert to the original interest rate at such time. Liquidated Damages shall be computed based on the actual number of days elapsed in each 90-day period in which the Shelf
Registration Statement is not effective or is unusable. Holders who have converted Securities into Common Stock will not be entitled to receive any Liquidated Damages with respect to such Common Stock or the issue price of the Securities converted.

  
 The Trustee shall be entitled, but shall not be obligated, on
behalf of the Holders of Registrable Securities, to seek any available remedy for the enforcement of this Agreement, 

  

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including for the payment of any Liquidated Damages. Notwithstanding the foregoing, the parties agree that the sole monetary damages payable for a violation
of the terms of this Agreement with respect to which liquidated damages are expressly provided shall be such liquidated damages. Nothing shall preclude a Holder of Registrable Securities from pursuing or obtaining specific performance or equitable
relief with regard to this Agreement. Each obligation to pay Liquidated Damages shall be deemed to accrue from and including the day following the Registration Default to but excluding the day on which the Registration Default is cured. 

 
 A Registration Default under clause (a) above shall be cured on the
date that the Shelf Registration Statement is filed and has become effective. A Registration Default under clauses (b) or (c) above shall be cured on the date an amended Shelf Registration Statement becomes effective or the Company
otherwise declares the Shelf Registration Statement and the Prospectus useable, as applicable. The Company will have no liabilities for monetary damages other than the Liquidated Damages with respect to any Registration Default. 
  
 The parties agree that the Liquidated Damages provided for in this
Section 2.4 constitute a reasonable estimate of the damages that may be incurred by Holders of Registrable Securities and do not constitute a penalty. 
  
 2.5 Suspension. The Company may suspend the use of any Prospectus, without incurring or accruing any obligation to pay Liquidated Damages pursuant
to Section 2.4, for a period not to exceed 90 consecutive calendar days or an aggregate of 120 calendar days in any twelve-month period, (each, a “Suspension Period”) if the Company shall have determined in good faith that
because of valid business reasons (not including avoidance of the Company’s obligations hereunder), including without limitation proposed or pending corporate developments and similar events or because of filings with the SEC, it is in the best
interests of the Company to suspend such use, and prior to suspending such use the Company provides the Holders with written notice of such suspension, which notice need not specify the nature of the event giving rise to such suspension. Each Holder
shall keep confidential any communications received by it from the Company regarding the suspension of the use of the Prospectus, except as required by applicable law. 
  
 3. Registration Procedures. 
  

In connection with the obligations of the Company with respect to the Shelf Registration, the Company shall: 
  
 (a) before filing any Shelf Registration Statement or
Prospectus or any amendments or supplements thereto with the SEC, furnish to Merrill Lynch and Morgan Stanley, on behalf of the Initial Purchasers, copies of all such documents proposed to be filed and use reasonable efforts to reflect in each such
document when so filed with the SEC such comments as Merrill Lynch and Morgan Stanley reasonably shall propose within three (3) Business Days of the delivery of such copies to Merrill Lynch and Morgan Stanley; 
  

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 (b) prepare and file with the SEC such amendments and post-effective amendments to the
Shelf Registration Statement as may be necessary under applicable law to keep the Shelf Registration Statement effective for the Effectiveness Period, subject to Section 2.5; and cause each Prospectus to be supplemented by any required
prospectus supplement, and as so supplemented to be filed pursuant to Rule 424 (or any similar provision then in force) under the 1933 Act and use reasonable efforts to comply during the Effectiveness Period with the provisions of the 1933 Act, the
1934 Act and the rules and regulations thereunder required to enable the disposition of all Registrable Securities covered by the Shelf Registration Statement in accordance with the intended method or methods of distribution by the selling Holders
thereof; 
  
 (c) (i) notify each Holder of
Registrable Securities of the filing of a Shelf Registration Statement with respect to the Registrable Securities; (ii) during the Effectiveness Period, furnish to each Holder of Registrable Securities that has provided the information required
by Section 2.1(c) and to each underwriter of an underwritten offering of Registrable Securities, if any, without charge, as many copies of each Prospectus, including each preliminary Prospectus, and any amendment or supplement thereto and such
other documents as such Holder or underwriter may reasonably request in writing, including financial statements and schedules and, if the Holder so requests, all exhibits in connection with the sale or other disposition of the Registrable
Securities; and (iii) subject to Section 2.5 and to any notice by the Company in accordance with Section 3(e) of the existence of any fact of the kind described in Sections 3(e)(ii), (iii), (iv), (v) and (vi), hereby consent to
the use of the Prospectus or any amendment or supplement thereto by each of the selling Holders of Registrable Securities that has provided the information required by Section 2.1(c) in connection with the offering and sale of the Registrable
Securities covered by such Prospectus or any amendment or supplement thereto in the manner set forth therein; 
  
 (d) use reasonable efforts to register or qualify or cooperate with the Holders in connection with the registration or qualification (or
exemption from such registration or qualification) of the Registrable Securities under all applicable state securities or “blue sky” laws of such jurisdictions as any Holder of Registrable Securities covered by a Shelf Registration
Statement and each underwriter of an underwritten offering of Registrable Securities shall reasonably request in writing, and do any and all other acts and things which may be reasonably necessary or advisable to enable each such Holder and
underwriter to consummate the disposition in each such jurisdiction of such Registrable Securities owned by such Holder; provided, however, that the Company shall not be required to (i) qualify as a foreign corporation or as a dealer in
securities in any jurisdiction where it would not otherwise be required to qualify but for this Section 3(d), or (ii) take any action which would subject it to general service of process or taxation in any such jurisdiction where it is not
then so subject; 
  
 (e) notify as promptly as
reasonably practicable each Holder of Registrable Securities under a Shelf Registration that has provided the information required by Section 2.1(d) and, if requested by such Holder, confirm such advice in writing promptly (i) when a Shelf
Registration Statement has become effective and when any post-effective amendments thereto become effective, (ii) of any request, following the 

  

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effectiveness of the Shelf Registration Statement under the 1933 Act, by the SEC or any state securities authority for post-effective amendments and
supplements to a Shelf Registration Statement and Prospectus or for additional information after the Shelf Registration Statement has become effective, (iii) of the issuance by the SEC or any state securities authority of any stop order
suspending the effectiveness of a Shelf Registration Statement or the initiation of any proceedings for that purpose, (iv) of the occurrence (but not the nature of or details concerning) of any event or the discovery of any facts during the
period a Shelf Registration Statement is effective which makes any statement made in such Shelf Registration Statement or the related Prospectus untrue in any material respect or which requires the making of any changes in such Shelf Registration
Statement or Prospectus in order to make the statements therein not misleading, (provided, however, that no notice by the Company shall be required pursuant to this clause (iv) in the event that the Company either promptly files a Prospectus
supplement to update the Prospectus or a Form 8-K or other appropriate 1933 Act report that is incorporated by reference into the Shelf Registration Statement, which, in either case, contains the requisite information that results in such Shelf
Registration Statement no longer containing any untrue statement of material fact or omitting to state a material fact necessary to make the statements therein not misleading), (v) of the receipt by the Company of any notification with respect
to the suspension of the qualification of the Registrable Securities for sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose and (vi) of any determination by the Company that a post-effective amendment
to such Shelf Registration Statement would be required by applicable law; 
  
 (f) as promptly as reasonably practicable furnish to Merrill Lynch and Morgan Stanley as representatives of the Initial Purchasers and one special counsel to the Initial Purchasers on behalf of the Holders
(i) copies of any comment letters received from the SEC with respect to a Shelf Registration Statement or any documents incorporated therein and (ii) any other request by the SEC or any state securities authority for amendments or
supplements to a Shelf Registration Statement and Prospectus or for additional information with respect to the Shelf Registration Statement and Prospectus; 
  
 (g) use reasonable efforts to obtain the withdrawal of any order suspending the effectiveness of a Shelf Registration Statement at the
earliest practicable moment or, if any such order or suspension is made effective during any Suspension Period, at the earliest practicable moment after the Suspension Period; 
  
 (h) upon the occurrence of any event or the discovery of any facts, each as contemplated by Sections
3(e)(ii), (iii), (iv), (v) and (vi), as promptly as practicable after the occurrence of such an event, use reasonable efforts to prepare a supplement or post-effective amendment to the Shelf Registration Statement or the related Prospectus or
any document incorporated therein by reference or file any other required document so that, as thereafter delivered to the purchasers of the Registrable Securities, such Prospectus will not contain at the time of such delivery any untrue statement
of a material fact or omit to state a material fact necessary to make the statements therein, in light of the circumstances under which they were made, not misleading or will remain so qualified. At such time as such public disclosure is otherwise
made or the Company determines that such disclosure is not necessary, in each case to correct any misstatement of a material 

  

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fact or to include any omitted material fact, the Company agrees promptly to notify each Holder that has provided the information required by
Section 2.1(c) of such determination and to furnish each Holder such number of copies of the Prospectus as amended or supplemented, as such Holder may reasonably request; 
  
 (i) (i) use reasonable efforts to cause the Indentures to be qualified under the 1939 Act in connection
with the registration of the Registrable Securities, (ii) cooperate with the Trustee and the Holders to effect such changes to the Indentures as may be required for the Indentures to be so qualified in accordance with the terms of the 1939 Act,
and (iii) execute, and use reasonable efforts to cause the Trustee to execute, all documents as may be required to effect such changes, and all other forms and documents required to be filed with the SEC to enable the Indentures to be so
qualified in a timely manner; 
  
 (j) enter into
such customary agreements and take all other customary and appropriate actions in order to expedite or facilitate the disposition of such Registrable Securities, including, but not limited to: 
  
 (i) obtain opinions of counsel to the Company and updates
thereof addressed to each selling Holder and the underwriters, if any, covering the matters set forth in the opinion of counsel to the Company delivered at the Closing Date; 
  
 (ii) obtain “comfort” letters and updates thereof from the Company’s independent certified
public accountants (and, if necessary, any other independent certified public accountants of any subsidiary of the Company or of any business acquired by the Company for which financial statements are, or are required to be, included in the Shelf
Registration Statement) addressed to the underwriters, if any, and use reasonable efforts to have such letter addressed to the selling Holders of Registrable Securities (to the extent consistent with Statement on Auditing Standards No. 72 of
the American Institute of Certified Public Accounts), such letters substantially in the form and covering the matters covered in the comfort letter delivered on the Closing Date; 
  
 (iii) if an underwriting agreement is entered into, cause the same to set forth indemnification provisions
and procedures substantially equivalent to the indemnification provisions and procedures set forth in Section 4 with respect to the underwriters and all other parties to be indemnified pursuant to said Section or, at the request of any
underwriters, in the form customarily provided to such underwriters in similar types of transactions; and 
  
 (iv) deliver such documents and certificates as may be reasonably requested and as are customarily delivered in similar offerings to the
Holders of a majority in principal amount of the Registrable Securities being sold and the managing underwriters, if any. 
  
 The above shall be done only in connection with any underwritten offering of Registrable Securities using such Shelf Registration Statement pursuant to an underwriting or
similar 

  

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agreement as and to the extent required thereunder, and as reasonably requested by any of the parties thereto; provided, however, that in no event
will an underwritten offering of Registrable Securities be made without the prior written agreement of the Company; 
  
 (k) if reasonably requested in connection with a disposition of Registrable Securities, make reasonably available for inspection during
normal business hours by representatives of the Holders of the Registrable Securities, any underwriters participating in any disposition pursuant to a Shelf Registration Statement and any counsel or accountant retained by any of the foregoing, all
relevant financial and other records, pertinent corporate documents and properties of the Company reasonably requested by any such persons, and cause the appropriate officers, directors and designated employees to make reasonably available for
inspection during normal business hours all relevant information reasonably requested by any such representative, underwriter, special counsel or accountant in connection with a Shelf Registration Statement, and make such representatives of the
Company available for discussion of such documents as shall be reasonably requested by the Initial Purchasers, in each case as is customary for “due diligence” investigations; provided that such persons shall first agree in writing
with the Company that any information that is reasonably designated by the Company as confidential at the time of delivery shall be kept confidential by such persons and shall be used solely for the purposes of exercising rights under this Agreement
and such person shall not engage in trading any securities of the Company until such material non-public information becomes properly publicly available, unless (i) disclosure of such information is required by court or administrative order or
is necessary to respond to inquires of regulatory authorities, (ii) disclosure of such information is required by law (including any disclosure requirements pursuant to federal securities laws in connection with the filing of any Shelf
Registration Statement or the use of any Prospectus referred to in this Agreement upon a customary opinion of counsel for such persons delivered and reasonably satisfactory to the Company), (iii) such information becomes generally available to
the public other than as a result of a disclosure or failure to safeguard by any such person, or (iv) such information becomes available to any such person from a source other than the Company and such source is not bound by a confidentiality
agreement; provided further, that, the foregoing inspection and information gathering shall, to the greatest extent possible, be coordinated on behalf of all the Holders and the other parties entitled thereto by special counsel to the
Holders; 
  
 The above shall be done only in connection with any
underwritten offering of Registrable Securities using such Shelf Registration Statement pursuant to an underwriting or similar agreement as and to the extent required thereunder, and as reasonably requested by any of the parties thereto;
provided, however, that in no event will an underwritten offering of Registrable Securities be made without the prior written agreement of the Company; 
  

(l) at reasonable time prior to filing the Shelf Registration Statement, any Prospectus forming a part thereof, any amendment to the
Shelf Registration Statement or amendment or supplement to such Prospectus (other than amendments and supplements that do nothing more than name Holders and provide information with respect thereto), furnish to Merrill Lynch and Morgan Stanley as
representatives of the Initial Purchasers and one special counsel to the Initial Purchasers copies of all such documents proposed to 

  

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be filed and use its reasonable efforts to reflect in each such document when so filed with the SEC such comments as the Initial Purchasers and such special
counsel to the Initial Purchasers reasonably shall propose within three (3) Business Days of the delivery of such copies to the Initial Purchasers and counsel to the Initial Purchasers. In addition, if any Holder that has provided the
information required by Section 2.1(c) shall so request in writing, a reasonable time prior to filing any such documents, the Company shall furnish to such Holder copies of all such documents proposed to be filed and use its reasonable efforts
to reflect in each such document when so filed with the SEC such comments as such Holder reasonably shall propose within three (3) Business Days of the delivery of such copies to such Holder; 
  
 (m) use its commercially reasonable efforts to cause all
Registrable Securities to be listed on any securities exchange or inter-dealer quotation system on which similar debt securities issued by the Company are then listed if requested by the Majority Holders, or if requested by the underwriter or
underwriters of an underwritten offering of Registrable Securities, if any; 
  
 (n) make generally available to its security holders, as soon as reasonably practicable, earning statements covering at least 12 months (which need not be audited) satisfying the provisions of Section 11(a) of
the 1933 Act and Rule 158 thereunder; and 
  
 (o)
make a reasonable effort to provide such information as is required for any filings required to be made with the National Association of Securities Dealers, Inc. 
  
 Without limiting the provisions of Section 2.1(c), the Company may (as a condition to such Holder’s participation
in the Shelf Registration) require each Holder of Registrable Securities to furnish to the Company such information regarding the Holder and the proposed distribution by such Holder of such Registrable Securities as the Company may from time to time
reasonably request in writing. Each Holder agrees promptly to furnish to the Company in writing all information required to be disclosed in order to make the information previously furnished to the Company by such Holder not misleading, any other
information regarding such Holder and the distribution of such Registrable Securities as may be required to be disclosed in the Shelf Registration Statement under applicable law or pursuant to SEC comments and any information otherwise reasonably
required by the Company to comply with applicable law or regulations. 
  
 Each Holder agrees that, upon receipt of any notice from the Company of the happening of any event or the discovery of any facts, each of the kind described in Section 3(e)(ii), (iii), (iv), (v) and (vi), such Holder will
forthwith discontinue disposition of Registrable Securities pursuant to the Prospectus included in the Shelf Registration Statement until such Holder’s receipt of the copies of the supplemented or amended Prospectus contemplated by
Section 3(h) or written notice from the Company that the Shelf Registration Statement is again effective and no amendment or supplement is needed, and, if so directed by the Company, such Holder will deliver to the Company (at its expense) all
copies in such Holder’s possession, other than permanent file copies then in such Holder’s possession, of the Prospectus covering such Registrable Securities current at the time of receipt of such notice. 
  

 12 

 If any of the Registrable Securities covered by any Shelf Registration Statement are to be sold in an
underwritten offering, the underwriter or underwriters and manager or managers that will manage such offering will be selected by the Majority Holders of such Registrable Securities included in such offering and shall be acceptable to the Company.
No Holder of Registrable Securities may participate in any underwritten registration hereunder unless such Holder (a) agrees to sell such Holder’s Registrable Securities on the basis provided in any underwriting arrangements approved by
the persons entitled hereunder to approve such arrangements and (b) completes and executes all questionnaires, powers of attorney, indemnities, underwriting agreements and other documents required under the terms of such underwriting
arrangements. 
  
 4. Indemnification; Contribution.

  
 (a) The Company agrees to indemnify and hold
harmless each Initial Purchaser, each Holder who has provided information to the Company in accordance with Section 2.1(c), each Person who participates as an underwriter (any such Person being an “Underwriter”) and each
Person, if any, who controls any such Holder or Underwriter within the meaning of Section 15 of the 1933 Act or Section 20 of the 1934 Act as follows: 
  
 (i) against any and all loss, liability, claim, damage and expense whatsoever, as incurred, arising out of
any untrue statement or alleged untrue statement of a material fact contained in any Shelf Registration Statement (or any amendment or supplement thereto) pursuant to which Registrable Securities were registered under the 1933 Act, including all
documents incorporated therein by reference, or the omission or alleged omission therefrom of a material fact required to be stated therein or necessary to make the statements therein not misleading, or arising out of any untrue statement or alleged
untrue statement of a material fact contained in any Prospectus (or any amendment or supplement thereto) or any Issuer Free Writing Prospectus (or any amendment or supplement thereto) or the omission or alleged omission therefrom of a material fact
necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading; 
  
 (ii) against any and all loss, liability, claim, damage and expense whatsoever, as incurred, to the extent of the aggregate amount paid in
settlement of any litigation, or any investigation or proceeding by any governmental agency or body, commenced or threatened, or of any claim whatsoever based upon any such untrue statement or omission, or any such alleged untrue statement or
omission; provided that (subject to Section 4(d) below) any such settlement is effected with the written consent of the Company; and 
  
 (iii) against any and all reasonable out-of-pocket expense whatsoever, as incurred (including the reasonable fees and disbursements of
counsel), reasonably incurred in investigating, preparing or defending against any litigation, or any investigation or proceeding by any governmental agency or body, commenced or threatened, or any claim whatsoever based upon any such untrue 

  

 13 

 
statement or omission, or any such alleged untrue statement or omission, to the extent that any such expense is not paid under subparagraph (i) or
(ii) above; 
  
 provided, however, that this indemnity agreement shall
not apply to any loss, liability, claim, damage or expense to the extent arising out of any untrue statement or omission or alleged untrue statement or omission made in reliance upon and in conformity with written information furnished to the
Company by or on behalf of any Holder or Underwriter expressly for use in a Shelf Registration Statement (or any amendment thereto), any Prospectus (or any amendment or supplement thereto) or any Issuer Free Writing Prospectus (or any amendment or
supplement thereto). 
  
 (b) Each Holder who has
provided information to the Company in accordance with Section 2.1(c), severally, but not jointly, agrees to indemnify and hold harmless the Company, each Initial Purchaser, each Underwriter and the other selling Holders who have provided
information to the Company in accordance with Section 2.1(c), and each of their respective directors and officers, and each Person, if any, who controls the Company, any Initial Purchaser, any Underwriter or any other selling Holder within the
meaning of Section 15 of the 1933 Act or Section 20 of the 1934 Act, against any and all loss, liability, claim, damage and expense described in the indemnity contained in Section 4(a), as incurred, but only with respect to untrue
statements or omissions, or alleged untrue statements or omissions, made in the Shelf Registration Statement (or any amendment thereto) or any Prospectus included therein (or any amendment or supplement thereto) in reliance upon and in conformity
with written information with respect to such Holder furnished to the Company by or on behalf of such Holder expressly for use in the Shelf Registration Statement (or any amendment thereto) or such Prospectus (or any amendment or supplement
thereto); 
  
 (c) The Initial Purchasers agree to
indemnify and hold harmless the Company, the Holders of Registrable Securities, and each person, if any, who controls the Company or any Holder of Registrable Securities within the meaning of either Section 15 of the 1933 Act or Section 20
of the 1934 Act against any and all loss, liability, claim, damage and expense described in the indemnity contained in subsection (a) of this Section, as incurred, but only with respect to untrue statements or omissions, or alleged untrue
statements or omissions, made in the Shelf Registration Statement (or any amendment thereto), or any preliminary prospectus or the Prospectus (or any amendment or supplement thereto) in reliance upon and in conformity with written information
furnished to the Company by or on behalf of the Initial Purchasers expressly for use in the Shelf Registration Statement (or any amendment thereto) or such preliminary prospectus or the Prospectus (or any amendment or supplement thereto).

  
 (d) Each indemnified party shall give notice
as promptly as reasonably practicable to each indemnifying party of any action or proceeding commenced against it in respect of which indemnity may be sought hereunder, but failure to so notify an indemnifying party shall not relieve such
indemnifying party from any liability hereunder to the extent it is not materially prejudiced as a result thereof and in any event shall not relieve it from any liability which it may have otherwise than on account of this indemnity agreement. An
indemnifying party may participate at its own expense in the 

  

 14 

 
defense of such action; provided, however, that counsel to the indemnifying party shall not (except with the consent of the indemnified party) also be
counsel to the indemnified party. In no event shall the indemnifying party or parties be liable for the fees and expenses of more than one counsel (in addition to any local counsel) separate from their own counsel for all indemnified parties in
connection with any one action or separate but similar or related actions in the same jurisdiction arising out of the same general allegations or circumstances. No indemnifying party shall, without the prior written consent of the indemnified
parties, settle or compromise or consent to the entry of any judgment with respect to any litigation, or any investigation or proceeding by any governmental agency or body, commenced or threatened, or any claim whatsoever in respect of which
indemnification or contribution could be sought under this Section 4 (whether or not the indemnified parties are actual or potential parties thereto), unless such settlement, compromise or consent (i) includes an unconditional release of
each indemnified party from all liability arising out of such litigation, investigation, proceeding or claim and (ii) does not include a statement as to or an admission of fault, culpability or a failure to act by or on behalf of any
indemnified party. 
  
 (e) If at any time an
indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel, such indemnifying party agrees that it shall be liable for any settlement of the nature contemplated by
Section 4(a)(ii) effected without its written consent if (i) such settlement is entered into more than 60 days after receipt by such indemnifying party of the aforesaid request, (ii) such indemnifying party shall have received notice
of the terms of such settlement at least 45 days prior to such settlement being entered into and (iii) such indemnifying party shall not have reimbursed such indemnified party in accordance with such request prior to the date of such
settlement, provided that an indemnifying party shall not be liable for any such settlement effected without its consent if such indemnifying party (1) reimburses such indemnified party in accordance with such request to the extent it considers
such request to be reasonable and (2) provides written notice to the indemnified party describing any unpaid balance it believes is unreasonable and the reasons therefor, in each case prior to the date of such settlement. 
  
 (f) If the indemnification provided for in this
Section 4 is for any reason unavailable to or insufficient to hold harmless an indemnified party in respect of any losses, liabilities, claims, damages or expenses referred to therein, then each indemnifying party shall contribute to the
aggregate amount of such losses, liabilities, claims, damages and expenses incurred by such indemnified party, as incurred, in such proportion as is appropriate to reflect the relative fault of the Company on the one hand and the Holders and the
Initial Purchasers on the other hand in connection with the statements or omissions which resulted in such losses, liabilities, claims, damages or expenses, as well as any other relevant equitable considerations. 
  
 The relative fault of the Company on the one hand and the Holders and the
Initial Purchasers on the other hand shall be determined by reference to, among other things, whether any such untrue or alleged untrue statement of a material fact or omission or alleged omission to state a material fact relates to information
supplied by the Company, or by the Holders or the 

  

 15 

 
Initial Purchasers and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission.

  
 The Company, the Holders and the Initial Purchasers agree that
it would not be just and equitable if contribution pursuant to this Section 4 were determined by pro rata allocation or by any other method of allocation which does not take account of the equitable considerations referred to above in this
Section 4. The aggregate amount of losses, liabilities, claims, damages and expenses incurred by an indemnified party and referred to above in this Section 4 shall be deemed to include any reasonable out-of-pocket legal or other expenses
reasonably incurred by such indemnified party in investigating, preparing or defending against any litigation, or any investigation or proceeding by any governmental agency or body, commenced or threatened, or any claim whatsoever based upon any
such untrue or alleged untrue statement or omission or alleged omission. 
  
 Notwithstanding the provisions of this Section 4, no Initial Purchaser or Holder shall be required to indemnify or contribute any amount in excess of the amount by which the total price at which the Securities
sold by such Initial Purchaser or Holder exceeds the amount of any damages which such Initial Purchaser or Holder has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. 
  
 No Person guilty of fraudulent misrepresentation (within the meaning of
Section 11(f) of the 1933 Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. 
  
 For purposes of this Section 4, each Person, if any, who controls any Initial Purchaser or Holder within the meaning of Section 15 of the 1933
Act or Section 20 of the 1934 Act shall have the same rights to contribution as such Initial Purchaser or Holder, and each director of the Company, and each Person, if any, who controls the Company within the meaning of Section 15 of the
1933 Act or Section 20 of the 1934 Act shall have the same rights to contribution as the Company. 
  
 5. Miscellaneous. 
  
 5.1 No Inconsistent Agreements. The Company has not entered into and the Company will not after the date of this Agreement enter into any agreement
with respect to its securities which is inconsistent with the rights granted to the Holders of Registrable Securities in this Agreement or otherwise conflicts with the provisions hereof. The rights granted to the Holders hereunder do not for the
term of this Agreement conflict with the rights granted to the holders of the Company’s other issued and outstanding securities under any such agreements. 
  

5.2 Amendments and Waivers. The provisions of this Agreement, including the provisions of this sentence, may not be amended, modified or
supplemented, and waivers or consents to departures from the provisions hereof may not be given unless the Company has obtained the written consent of Holders of at least a majority in aggregate principal amount of the outstanding Registrable
Securities (assuming conversion of all Securities into Common Stock) affected by such amendment, modification, supplement, waiver or departure. Notwithstanding the foregoing, this Agreement may be amended by a written agreement between 

  

 16 

 
the Company and Merrill Lynch, on behalf of the Initial Purchasers, without the consent of the Holders of the Registrable Securities, in order to cure any
ambiguity or to correct or supplement any provision contained herein, provided that no such amendment shall adversely affect the interest of the Holders of Registrable Securities. Each Holder of Registrable Securities outstanding at the time of any
amendment, modification, waiver or consent pursuant to this Section 5.2, shall be bound by such amendment, modification, waiver or consent, whether or not any notice or writing indicating such amendment, modification, waiver or consent is
delivered to such Holder. 
  
 5.3 Notices. All notices and
other communications provided for or permitted hereunder shall be made in writing by hand delivery, registered first-class mail, facsimile, or any courier guaranteeing overnight delivery (a) if to a Holder, at the most current address given by
such Holder to the Company in a Questionnaire or by means of a notice given in accordance with the provisions of this Section 5.3, which address initially is the address set forth in the Purchase Agreement with respect to the Initial
Purchasers; and (b) if to the Company, initially at the Company’s address set forth in the Purchase Agreement, and thereafter at such other address of which notice is given in accordance with the provisions of this Section 5.3.

  
 All such notices and communications shall be deemed to have
been duly given: at the time delivered by hand, if personally delivered; two business days after being deposited in the mail, postage prepaid, if mailed; when receipt is acknowledged, if sent by facsimile; and on the next business day if timely
delivered to an overnight courier. 
  
 Copies of all such notices,
demands, or other communications to any Holder shall be deemed to have been duly given, if such notice has been duly given to the Trustee under the Indentures, at the address specified in such Indentures. 
  
 5.4 Successor and Assigns. This Agreement shall inure to the benefit
of and be binding upon the successors, assigns and transferees of each of the parties, including, without limitation and without the need for an express assignment, subsequent Holders; provided that, nothing herein shall be deemed to permit
any assignment, transfer or other disposition of Registrable Securities in violation of the terms of the Purchase Agreement or the Indentures. If any transferee of any Holder shall acquire Registrable Securities, in any manner, whether by operation
of law or otherwise, such Registrable Securities shall be held subject to all of the terms of this Agreement, and by taking and holding such Registrable Securities such person shall be conclusively deemed to have agreed to be bound by and to perform
all of the terms and provisions of this Agreement, including the restrictions on resale set forth in this Agreement and, if applicable, the Purchase Agreement, and such person shall be entitled to receive the benefits hereof. 
  
 5.5 Third Party Beneficiaries. Each Initial Purchaser (even if such
Initial Purchaser is not a Holder of Registrable Securities) shall be a third party beneficiary to the agreements made hereunder between the Company, on the one hand, and the Holders, on the other hand, and shall have the right to enforce such
agreements directly to the extent it deems such enforcement necessary or advisable to protect its rights or the rights of Holders hereunder. Each Holder of Registrable Securities shall be a third party beneficiary to the agreements made hereunder
between the Company, on the one hand, and the Initial Purchasers, on the other hand, and shall 

  

 17 

 
have the right to enforce such agreements directly to the extent it deems such enforcement necessary or advisable to protect its rights hereunder.

  
 5.6 Specific Enforcement. Without limiting the remedies
available to the Initial Purchasers and the Holders, the Company acknowledges that any failure by the Company to comply with its obligations under Section 2.1 may result in material irreparable injury to the Initial Purchasers or the Holders
for which there is no adequate remedy at law, that it may not be possible to measure damages for such injuries precisely and that, in the event of any such failure, any Initial Purchaser or any Holder may seek such relief as may be required to
specifically enforce the Company’s obligations under Sections 2.1. 
  
 5.7 Counterparts. This Agreement may be executed in any number of counterparts and by the parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall
constitute one and the same agreement. 
  
 5.8 Headings.
The headings in this Agreement are for convenience of reference only and shall not limit or otherwise affect the meaning hereof. 
  
 5.9 GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAW OF THE STATE OF NEW YORK WITHOUT REGARD
TO THE PRINCIPLES OF CONFLICT OF LAWS THEREOF. 
  
 5.10
Severability. In the event that any one or more of the provisions contained herein, or the application thereof in any circumstance, is held invalid, illegal or unenforceable, the validity, legality and enforceability of any such provision in
every other respect and of the remaining provisions contained herein shall not be affected or impaired thereby. 
  
 5.11 Entire Agreement. This Agreement is intended by the parties as a final expression of their agreement and intended to be a complete and
exclusive statement of the agreement and understanding of the parties hereto in respect of the subject matter contained herein. There are no restrictions, promises, warranties or undertakings, other than those set forth or referred to herein with
respect to the registration rights granted by the Issuer with respect to the Registrable Securities. This Agreement supersedes all prior agreements and understandings between the parties with respect to such subject matter. 
  

 18 

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

  

					
	 Amgen Inc.

		
	 By:
	 	 /s/ Richard D. Nanula

	 	 	 Name:
	 	 Richard D. Nanula

	 	 	 Title:
	 	 Executive Vice President and
 Chief Financial
Officer

  

			
	 Confirmed and accepted as of the date first above written:

	
	 MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED

	
	 MORGAN STANLEY & CO. INCORPORATED

		
	 By:
	 	 Merrill Lynch, Pierce, Fenner & Smith Incorporated

		
	 By:
	 	 /s/ Kevin Cook

	 	 	 Name: Kevin Cook

	 	 	 Title:   Vice President

  

 19Purchase Agreement

 Exhibit 10.1 
  
 EXECUTION COPY 
  

  
 Purchase Agreement

  
 Dated February 14, 2006 
  
 between 
  
 Amgen Inc. 
  
 and 
  
 Merrill Lynch, Pierce, Fenner & Smith 
 Incorporated 
  
 and 
  
 Morgan Stanley & Co. Incorporated 
  
 and 
  
 the Initial Purchasers named in Schedule A hereof 
  

 AMGEN INC. 
  
 $2,500,000,000        0.125% CONVERTIBLE SENIOR NOTES DUE 2011 
  
 $2,500,000,000        0.375%
CONVERTIBLE SENIOR NOTES DUE 2013 
  
 PURCHASE AGREEMENT

  
 Dated February 14, 2006 
  
 Merrill Lynch & Co. 
 Merrill Lynch, Pierce, Fenner & Smith Incorporated 
 Morgan Stanley & Co. Incorporated 
 Citigroup Global Markets Inc. 
 J.P. Morgan Securities Inc. 
 Lehman Brothers Inc. 
 Bear, Stearns & Co. Inc. 
 Credit Suisse Securities (USA) LLC 
  
 c/o Merrill Lynch, Pierce, Fenner & Smith Incorporated 
 4 World Financial Center 
 New York, New York
10080 
  
 Dear Sirs and Mesdames: 
  
 Amgen Inc., a Delaware corporation (the “Company”), proposes
to issue and sell to the several purchasers named in Schedule A hereto (the “Initial Purchasers”) $2,500,000,000 principal amount of its 0.125% Convertible Senior Notes due 2011 (the “2011 Notes”) to be issued
pursuant to the provisions of an Indenture, to be dated as of February 17, 2006 (the “2011 Notes Indenture”), between the Company and JPMorgan Chase Bank, N.A., as Trustee (the “Trustee”), and $2,500,000,000
principal amount of its 0.375% Convertible Senior Notes due 2013 (the “2013 Notes” and, together with the 2011 Notes, the “Securities”) to be issued pursuant to the provisions of an Indenture, to be dated as of
February 17, 2006 (the “2013 Notes Indenture,” and together with the 2011 Notes Indenture, the “Indentures”), between the Company and the Trustee. The Securities are convertible, subject to certain conditions
as described in the Final Memorandum (as defined below), prior to maturity, into shares of common stock, par value $0.0001 (the “Common Stock”), of the Company in accordance with the terms of the Securities and the Indentures.

  
 Pursuant to the transactions contemplated by this purchase
agreement (this “Agreement”), the Securities will be offered and sold to the Initial Purchasers and reoffered by the Initial Purchasers without being registered under the Securities Act of 1933, as amended (the “Securities
Act”), to qualified institutional buyers in compliance with the exemption from registration provided by Rule 144A under the Securities Act. 
  

 2 

 The Initial Purchasers and their direct and indirect transferees (“Subsequent
Purchasers”) will be entitled to the benefits of a Registration Rights Agreement, to be dated as of February 17, 2006 between the Company and Merrill Lynch, Pierce, Fenner & Smith Incorporated (“Merrill
Lynch”) and Morgan Stanley & Co. Incorporated (“Morgan Stanley”) on behalf of the Initial Purchasers (the “Registration Rights Agreement”), substantially in the form set forth in Exhibit A.

  
 In connection with the offering of the Securities, the Company
has prepared a preliminary offering memorandum dated February 13, 2006 (the “Preliminary Memorandum”) and will prepare a final offering memorandum dated February 14, 2006 (the “Final Memorandum” and,
together with the Preliminary Memorandum, each a “Memorandum”) including or incorporating by reference a description of the terms of the Securities, the terms of the offering and a description of the Company. As used herein, the
term “Memorandum” shall include in each case the documents incorporated by reference therein. The terms “supplement,” “amendment” and “amend” as used herein with respect to a Memorandum
shall include all documents deemed to be incorporated by reference in the Preliminary Memorandum or Final Memorandum that are filed subsequent to the date of such Memorandum with the Securities and Exchange Commission (the
“Commission”) pursuant to the Securities Exchange Act of 1934, as amended (the “Exchange Act”). “Memorandum” means, with respect to any date or time referred to in this Agreement, the most recent
memorandum (whether the Final Memorandum, or any amendment or supplement to such document), including exhibits thereto and any documents incorporated by reference therein, that has been prepared and delivered by the Company to the Initial Purchasers
in connection with their solicitation of purchase of, or offering of, the Securities. 
  
 1. Representations and Warranties. (a) The Company represents and warrants to, and agrees with, you that as of the date hereof and as of the Closing Date: 
  
 (i) As of the Applicable Time (as defined below), neither
(x) the Preliminary Memorandum as of the Applicable Time as supplemented by the final pricing term sheet, in the form attached hereto as Schedule B (the “Pricing Supplement”), that has been prepared and delivered by the Company
to the Initial Purchasers in connection with their solicitation of offers to purchase Securities, all considered together (collectively, the “Disclosure Package”), nor (y) any individual Supplemental Offering Materials (as
defined below), when considered together with the Disclosure Package, included any untrue statement of a material fact or omitted to state any material fact necessary to make the statements therein, in the light of the circumstances under which they
were made, not misleading. “Applicable Time” means 9:00 am (Eastern time) on February 15, 2006 or such other time as agreed by the Company and Merrill Lynch. 
  
 “Supplemental Offering Materials” means any “written communication” (within the meaning of the
Securities Act and the rules and regulations thereunder (the “1933 Act Regulations”)) prepared by or on behalf of the Company, or used or referred to by the Company, that constitutes an offer to sell or a solicitation of an offer to
buy the Securities other than the Memorandum or amendments or supplements thereto (including the Pricing Supplement), including, without limitation, any road show relating to the Securities that constitutes such a written communication. The Company
and each Initial Purchaser agree that no offering of the Securities will be made by the Company or any Initial Purchaser with any “written 

  

 3 

 
communication” (within the meaning of the 1933 Act Regulations other than such Supplemental Offering Materials) without the prior written agreement of
the Company, Merrill Lynch and Morgan Stanley, other than as disclosed to the Company; provided, however, that prior to the preparation of the Pricing Supplement, the Initial Purchasers are authorized to use the information to be set forth in
the Pricing Supplement in communications conveying information relating to the offering to investors. 
  
 As of its issue date and as of the Closing Time, the Final Memorandum will not include an untrue statement of a material fact or omit to state a material
fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading. 
  
 The representation and warranties in this subsection shall not apply to statements in or omissions from the Disclosure Package or the Final Memorandum
made in reliance upon and in conformity with written information furnished to the Company by any Initial Purchaser expressly for use therein. 
  
 (ii) The Memorandum as delivered from time to time shall incorporate by reference the Company’s Annual Report on Form 10-K for the
fiscal year ended December 31, 2004; the Company’s Quarterly Reports on Form 10-Q for the quarterly periods ended March 31, 2005, June 30, 2005, and September 30, 2005; the Company’s Current Reports on Form 8-K
filed with the Commission on January 31, 2005, March 4, 2005, March 11, 2005, April 6, 2005, April 22, 2005 (only that Current Report filed pursuant to Items 2.02, 8.01 and 9.01), April 25,
2005, May 5, 2005, May 6, 2005, July 14, 2005, August 10, 2005, October 20, 2005, November 22, 2005, December 8, 2005, December 15, 2005 and February 13, 2006; and
the description of the Company’s common stock, contractual contingent payment rights and preferred share purchase rights contained in the Company’s registration statements on Form 8-A filed with the Commission on September 7, 1983 and
April 1, 1993, and on Form 8-K filed with the Commission on February 28, 1997 and December 18, 2000, respectively, including any amendment or report filed for the purpose of updating that description. The documents incorporated or
deemed to be incorporated by reference in the Memorandum at the time they were or hereafter are filed, or, if amended, as so amended, with the Commission complied and, with respect to future filings, will comply, in all material respects with the
requirements of the Exchange Act and the rules and regulations of the Commission thereunder, and, when read together with the other information in the Memorandum, at the date of the Memorandum and at the Closing Date, will not include an untrue
statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances in which they were made, not misleading. 
  
 (iii) Ernst & Young, LLP, which has audited certain
consolidated financial statements of the Company and its consolidated subsidiaries to be incorporated by reference in the Memorandum, are independent registered public accountants with respect to the Company and its subsidiaries within the meaning
of Regulation S-X under the Securities Act and the 1933 Act Regulations. 
  
 (iv) The consolidated financial statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2004 and the Company’s 

  

 4 

 
Quarterly Reports on Form 10-Q for the quarterly periods ended March 31, 2005, June 30, 2005 and September 30, 2005, each of which is
incorporated by reference in the Disclosure Package and Final Memorandum present fairly, in all material respects, the financial position of the Company and its consolidated subsidiaries at December 31, 2004 and 2003, at September 30, 2005
and 2004, at June 30, 2005 and 2004 and at March 31, 2005 and 2004, respectively, and the statements of operations and cash flows of the Company and its consolidated subsidiaries for each of the three years in the period ended
December 31, 2004, for each of the nine months ended September 30, 2005 and 2004, for each of the six months ended June 30, 2005 and 2004, and for each of the three months ended March 31, 2005 and 2004, respectively, in
conformity with accounting principles generally accepted in the United States (“GAAP”). The related financial statement schedules, when considered in relation to the basic consolidated financial statements taken as a whole, present
fairly in all material respects the information set forth therein. 
  
 (v) Since the respective dates as of which information is given in the Disclosure Package and Final Memorandum, except as otherwise stated therein, (A) there has been no material adverse change in the financial
condition or in the earnings of the Company and its subsidiaries considered as one enterprise, (B) there have been no transactions entered into by the Company or any of its subsidiaries, other than those in the ordinary course of business,
which are material with respect to the Company and its subsidiaries considered as one enterprise, and (C) there has been no dividend or distribution of any kind declared, paid or made by the Company on any class of its capital stock not
described in the Final Memorandum. 
  
 (vi) Each
of the Company, Amgen Manufacturing, Limited, a Bermuda corporation (“Amgen Manufacturing”), and Immunex Corporation, a Washington corporation (“Immunex” and, together with Amgen Manufacturing, the
“Significant Subsidiaries”), has been duly incorporated or organized and is validly existing in good standing under the laws of the jurisdiction in which it is incorporated, chartered or organized with the corporate power and
authority to own or lease, as the case may be, and to operate its properties and conduct its business as described in the Disclosure Package and Final Memorandum and is duly qualified to do business as a foreign corporation or organization and is in
good standing under the laws of each jurisdiction which requires such qualification, except, in each case, where the failure so to qualify or to be in good standing would not have a material adverse effect on the financial condition of the Company
and its subsidiaries, considered as one enterprise (a “Material Adverse Effect”). 
  
 (vii) All the issued and outstanding shares of capital stock of the Significant Subsidiaries have been duly and validly authorized and
issued and are fully paid and nonassessable, and, except as may be otherwise set forth in the Disclosure Package and the Final Memorandum, all outstanding shares of capital stock of the Significant Subsidiaries are owned by the Company either
directly or through a wholly-owned subsidiary free and clear of any security interest, mortgage, pledge, lien, encumbrance, claim or equity; none of the outstanding shares of capital stock of the Significant Subsidiaries was issued in violation of
the preemptive or similar rights of any securityholder of either Significant Subsidiary. 
  
 (viii) Neither of the Significant Subsidiaries is currently prohibited, directly or indirectly, from paying any dividends to the Company,
from making any other 

  

 5 

 
distribution on such subsidiary’s capital stock, from repaying to the Company any loans or advances to such subsidiary from the Company or from
transferring any of such subsidiary’s property or assets to the Company or any other subsidiary of the Company, except as may be described in or contemplated by the Disclosure Package and the Final Memorandum and except as would not result in a
Material Adverse Effect. 
  
 (ix) The unaudited
consolidated capitalization of the Company as of December 31, 2005 is as set forth in the Disclosure Package and the Final Memorandum in the column entitled “Actual” under the caption “Capitalization.” The outstanding shares
of capital stock of the Company have been duly and validly authorized and issued and are fully paid and nonassessable; none of the outstanding shares of capital stock of the Company was issued in violation of the preemptive or similar rights of any
security holder of the Company. 
  
 (x) This
Agreement has been duly authorized, executed and delivered by the Company. 
  
 (xi) At the Closing Date, the Indentures will have been duly authorized by the Company, and when duly executed and delivered by the Company and, assuming the due authorization, execution and delivery of the Indentures
by the Trustee, will be valid and binding agreements of the Company enforceable against the Company in accordance with their terms, except (A) to the extent that a waiver of rights under any usury laws may be unenforceable and as the
enforceability thereof may be limited by bankruptcy, insolvency, fraudulent conveyance, moratorium or other similar laws now or hereafter in effect relating to or affecting the enforcement of creditors’ rights and remedies generally and
(B) as rights of acceleration and the availability of equitable remedies may be limited by equitable principles of general applicability, whether or not enforcement is sought at law or in equity. 
  
 (xii) At the Closing Date, the Registration Rights Agreement
will have been duly authorized by the Company and, when executed and delivered by the Company, assuming the due authorization, execution and delivery of the Registration Rights Agreement by the Initial Purchasers, will constitute a valid and binding
agreement of the Company, enforceable against the Company in accordance with its terms, except (A) as the enforceability thereof may be limited by bankruptcy, insolvency, fraudulent conveyance, moratorium or other similar laws now or hereafter
in effect relating to or affecting the enforcement of creditors’ rights and remedies generally, (B) as rights of acceleration and the availability of equitable remedies may be limited by equitable principles of general applicability,
whether or not enforcement is sought at law or in equity and (C) as rights to indemnification or contribution may be limited by federal or state securities laws or public policy considerations. 
  
 (xiii) The Securities have been duly authorized by the
Company, and, at the Closing Date, will have been duly executed by the Company and, when authenticated, issued and delivered in the manner provided for in the Indentures and delivered against payment of the Purchase Price (as defined below)
therefore as provided in this Agreement, will be the valid and binding obligations of the Company, enforceable against the Company in accordance with their terms, except (A) to the extent that a waiver of rights under any usury laws may be
unenforceable and as the enforceability thereof may be limited by bankruptcy, insolvency, fraudulent conveyance, moratorium or other similar laws now or hereafter in effect relating to or 

  

 6 

 
affecting the enforcement of creditors’ rights and remedies generally and (B) as rights of acceleration and the availability of equitable remedies
may be limited by equitable principles of general applicability, whether or not enforcement is sought at law or in equity. At the Closing Date, the Securities will be in the form contemplated by, and will be entitled to the benefits of, the
applicable Indenture and the Registration Rights Agreement. 
  
 (xiv) The Securities, the Indentures and the Registration Rights Agreement will conform in all material respects to the respective statements relating thereto contained in the Memorandum. 
  
 (xv) The Common Stock conforms in all material respects to
the descriptions relating thereto under the caption “Description of Capital Stock – Common Stock” set forth in the Memorandum. The shares of Common Stock issuable upon conversion of the Securities have been duly authorized and
reserved for issuance upon such conversion by all necessary corporate action of the Company and such shares, when issued upon conversion in accordance with the terms of the Securities, will be validly issued and will be fully paid and
non-assessable; and the issuance of such shares upon conversion will not be subject to the preemptive or other similar rights of any security holder of the Company. 
  
 (xvi) Neither the Company nor any of its Significant Subsidiaries is in violation of its charter or by-laws
or in default in the performance or observance of any obligation, agreement, covenant or condition contained in any contract, indenture, mortgage, deed of trust, loan or credit agreement, note, lease or other agreement or instrument to which the
Company or any of its subsidiaries is a party or by which it or any of them may be bound, or to which any of the property or assets of the Company or any of its subsidiaries is subject, except for such defaults that would not result in a Material
Adverse Effect. 
  
 (xvii) The execution,
delivery and performance by the Company of its obligations under this Agreement, the Indentures, the Registration Rights Agreement and the Securities will not contravene any provision of (A) the Restated Certificate of Incorporation, as
amended, or Amended and Restated Bylaws of the Company, (B) any agreement or other instrument binding upon the Company or its business or assets that is material to the financial condition of the Company and its subsidiaries, considered as one
enterprise, (C) applicable law and (D) any judgment, order, decree of any governmental body, agency or court having jurisdiction over the Company or its business or assets. 
  
 (xviii) Except as disclosed in the Disclosure Package and the Final Memorandum, there is no action, suit,
proceeding, inquiry or investigation before or brought by any court or governmental agency or body, domestic or foreign, now pending, or, to the knowledge of the Company, threatened, against or affecting the Company or any of its subsidiaries which
might reasonably be expected to result in a Material Adverse Effect, or which might reasonably be expected to materially and adversely affect the properties or assets of the Company or any of its subsidiaries or the consummation of the transactions
contemplated by this Agreement or the performance by the Company of its obligations hereunder. The aggregate of all pending legal or governmental proceedings to which the Company or any of its subsidiaries is a party or of which any of their
respective property or assets is the subject which are not described in the Disclosure Package and the Final Memorandum, including ordinary routine 

  

 7 

 
litigation incidental to the business, could not reasonably be expected to result in a Material Adverse Effect. 
  
 (xix) The Company and its Significant Subsidiaries own or
possess, or can acquire on reasonable terms, adequate patents, patent rights, licenses, inventions, copyrights, know-how (including trade secrets and other unpatented and/or unpatentable proprietary or confidential information, systems or
procedures), trademarks, service marks and trade names (collectively, “Intellectual Property”) which in each case are material to the financial condition of the Company and its subsidiaries, considered as one enterprise and, except
as described in the Disclosure Package and the Final Memorandum, neither the Company nor any of its Significant Subsidiaries has received any notice of any infringement of or conflict with asserted rights of others with respect to any Intellectual
Property, which infringement or conflict, singly or in the aggregate, could reasonably be expected to result in a Material Adverse Effect. 
  
 (xx) No consent, approval, authorization or order of or qualification with any governmental body or agency is required for the performance
by the Company of its obligations under this Agreement, the Indentures or in connection with the offering, issuance and sale of the Securities, except such as have been already obtained or will have been obtained prior to the Closing Date.

  
 (xxi) The Company has all necessary consents,
authorizations, approvals, orders, certificates and permits of and from (collectively, “Governmental Permits”), and has made all declarations and filings with, all federal, state, local and other governmental authorities, all
self-regulatory organizations and all courts and other tribunals, to own, lease, license and use its properties and assets and to conduct its business in the manner described in the Disclosure Package and the Final Memorandum, except to the extent
that the failure to obtain or file would not have a Material Adverse Effect; and the Company has not received any notice of proceedings relating to the revocation or modification of any such Governmental Permits which, singly or in the aggregate,
could reasonably be expected to result in a Material Adverse Effect. 
  
 (xxii) Except as described in the Disclosure Package and the Final Memorandum and except as would not, singly or in the aggregate, result in a Material Adverse Effect, (A) neither the Company nor any of its
subsidiaries is in violation of any federal, state, local or foreign statute, law, rule, regulation, ordinance, code, policy or rule of common law or any judicial or administrative interpretation thereof, including any judicial or administrative
order, consent, decree or judgment, relating to pollution or protection of human health, the environment (including, without limitation, ambient air, surface water, groundwater, land surface or subsurface strata) or wildlife, including, without
limitation, laws and regulations relating to the release or threatened release of chemicals, pollutants, contaminants, wastes, toxic substances, hazardous substances, petroleum or petroleum products (collectively, “Hazardous
Materials”) or to the manufacture, processing, distribution, use, treatment, storage, disposal, transport or handling of Hazardous Materials (collectively, “Environmental Laws”), (B) the Company and its subsidiaries
have all permits, authorizations and approvals required under any applicable Environmental Laws and are each in compliance with their requirements, (C) there are no pending or threatened administrative, regulatory or judicial actions, suits,
demands, demand letters, claims, liens, notices of noncompliance or violation, investigations or proceedings 

  

 8 

 
relating to any Environmental Law against the Company or any of its subsidiaries and (D) there are no events or circumstances that might reasonably be
expected to form the basis of an order for clean-up or remediation, or an action, suit or proceeding by any private party or governmental body or agency, against or affecting the Company or any of its subsidiaries relating to Hazardous Materials or
any Environmental Laws. 
  
 (xxiii) Neither the
Company nor any of its subsidiaries is in violation of any Federal or state law or regulation relating to occupational safety and health or to the storage, handling and transportation of hazardous or toxic materials; the Company and each of its
subsidiaries have received all permits, licenses or other approvals required of them under applicable Federal and state occupational safety and health laws and environmental laws and regulations to conduct their respective businesses, and the
Company and each such subsidiary is in compliance with all terms and conditions of any such permit, license or approval, except any such violation of law or regulation, failure to receive required permits, licenses or other approvals or failure to
comply with the terms and conditions of such permits, licenses or approvals that would not, singly or in the aggregate, result in a Material Adverse Effect, except as described in or contemplated by the Disclosure Package and the Final Memorandum.

  
 (xxiv) The Company and its subsidiaries,
taken as a whole, maintain a system of internal accounting controls sufficient to provide reasonable assurances that (A) transactions are executed in accordance with management’s general or specific authorization; (B) transactions are
recorded as necessary to permit preparation of financial statements in conformity with GAAP and to maintain accountability for assets; (C) access to assets is permitted only in accordance with management’s general or specific
authorization; and (D) the recorded accountability for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences. 
  
 (xxv) The Company is not, and after giving effect to the
offering and sale of the Securities and the application of the proceeds thereof as described in the Disclosure Package and Final Memorandum, will not be an “investment company,” or an entity “controlled” by an investment company,
as such terms are defined in the Investment Company Act of 1940, as amended. 
  
 (xxvi) The Company and each of its subsidiaries are insured by insurers of recognized financial responsibility against such losses and risks and in such amounts as are reasonable and consistent with sound business
practice. 
  
 (xxvii) Neither the Company nor any
of its affiliates, as such term is defined in Rule 501(b) of Regulation D under the Securities Act (each, an “Affiliate”), has, directly or indirectly, solicited any offer to buy, sold or offered to sell or otherwise negotiated in
respect of, or will solicit any offer to buy or offer to sell or otherwise negotiate in respect of, any security (as defined in the Securities Act) that is or would be integrated with the sale of the Securities in a manner that would require the
Securities to be registered under the Securities Act. 
  
 (xxviii) The Securities are eligible for resale pursuant to Rule 144A under the Securities Act and will not be, at the Closing Date, of the same class as securities listed on a 

  

 9 

 
national securities exchange registered under Section 6 of the Exchange Act, or quoted in a U.S. automated interdealer quotation system. 
  
 (xxix) None of the Company, any of its Affiliates or any
person acting on its or any of their behalf (other than the Initial Purchasers and their Affiliates, as to whom the Company makes no representation) has engaged or will engage, in connection with the offering of the Securities, in any form of
general solicitation or general advertising within the meaning of Rule 502(c) of Regulation D under the Securities Act or in any manner involving a public offering within the meaning of Section 4(2) of the Securities Act. 
  
 (xxx) Subject to compliance by the Initial Purchasers with
the representations, warranties and agreements set forth in Section 7, it is not necessary in connection with the offer, sale and delivery of the Securities to the Initial Purchasers and to each Subsequent Purchaser in the manner contemplated
by this Agreement and the Disclosure Package and Final Memorandum to register the Securities under the Securities Act. 
  
 (xxxi) The Company is subject to the reporting requirements of Section 13 or Section 15(d) of the Exchange Act. 
  
 (xxxii) There are no persons with registration rights or
other similar rights to have any securities included in any registration statement filed pursuant to a registration agreement or in any offering made pursuant to such registration statement. 
  
 (b) Officer’s Certificate. Any certificate
signed by any officer of the Company and delivered to the Initial Purchasers or counsel for the Initial Purchasers in connection with the issuance of the Securities shall be deemed a representation and warranty by the Company, as to matters covered
thereby, to the Initial Purchasers. 
  
 2. Agreements to Sell
and Purchase. The Company hereby agrees to sell to the several Initial Purchasers, and each Initial Purchaser, upon the basis of the representations and warranties herein contained, but subject to the conditions hereinafter stated, agrees,
severally and not jointly, to purchase from the Company the respective principal amount of Securities set forth opposite its name in Schedule A hereto and the Company and the Initial Purchasers agree that the Company shall receive 98.25% of the
aggregate principal amount of the Securities (the “Purchase Price”), plus accrued interest, if any, from the Closing Date. 
  
 During a period of 60 days from the date of the Final Memorandum, except as contemplated by the Final Memorandum, the Company will not, without the prior
written consent of Merrill Lynch and Morgan Stanley, directly or indirectly, (i) issue, offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant
for the sale of, or lend or otherwise dispose of or transfer any shares of Common Stock or any securities convertible into or exchangeable or exercisable for or repayable with Common Stock or (ii) enter into any swap or any other agreement or
any transaction that transfers, in whole or in part, directly or indirectly, the economic consequence of ownership of Common Stock or any securities convertible into or exchangeable for or repayable with Common Stock, whether any swap or transaction
is to be settled by delivery of Common Stock or other securities, in cash or otherwise. The foregoing sentence shall not apply to (A) the 

  

 10 

 
Securities to be sold hereunder, (B) the issuance of Series A Junior Participating Preferred Stock (or the issuance of shares of Common Stock upon the
conversion of such shares) pursuant to the Company’s Amended and Restated Rights Agreement dated as of December 12, 2000, between the Company and American Stock Transfer & Trust Company, as rights agent, (C) any shares of
Common Stock issued by the Company upon (1) the exercise of an option or warrant or upon the conversion of a security outstanding on the date hereof, (2) the conversion of the Company’s Liquid Yield Option Notes due 2032 or Zero
Coupon Convertible Notes due 2032 or (3) the conversion of the Securities, or (D) any shares of Common Stock issued or options to purchase Common Stock granted pursuant to employee benefit plans or director compensation plans of the
Company in any case whether now existing or hereafter assumed, adopted or authorized or (E) shares issued in connection with the settlement of advanced share repurchase plans used by the Company to effectuate its stock repurchase plan.

  
 3. Terms of Offering. You have advised the Company that
the Initial Purchasers will make an offering of the Securities purchased by the Initial Purchasers hereunder on the terms to be set forth in the Disclosure Package and the Final Memorandum, as soon as practicable after this Agreement is entered into
as in your reasonable judgment is advisable and that it is the intention of the Initial Purchasers not to hold any Securities after the Closing Date. 
  
 4. Payment and Delivery. Payment for the Securities shall be made to the Company in Federal or other funds immediately available in New York City
against delivery of such Securities for the respective accounts of the several Initial Purchasers at 10:00 a.m., New York City time, on February 17, 2006, or at such other time on the same or such other date as shall be agreed by the parties.
The time and date of such payment are hereinafter referred to as the “Closing Date.” 
  
 Certificates for the Securities shall be in global form and registered in the name of Cede & Co., as nominee of the Depository Trust Company. The
certificates evidencing the Securities shall be delivered to the Trustee on the Closing Date for the respective accounts of the several Initial Purchasers, with any transfer taxes payable in connection with the transfer of the Securities to the
Initial Purchasers duly paid, against payment of the Purchase Price therefor plus accrued interest, if any, to the date of payment and delivery. 
  
 5. Conditions to the Initial Purchasers’ Obligations. The several obligations of the Initial Purchasers to purchase and pay for the Securities
on the Closing Date is subject to the following conditions: 
  
 (a) Subsequent to the execution and delivery of this Agreement and prior to the Closing Date: 
  
 (i) there shall not have occurred any downgrading, nor shall any notice have been given of any intended or potential downgrading or of any
review for a possible change that does not indicate the direction of the possible change, in the rating accorded of any of the Company’s securities by any “nationally recognized statistical rating organization,” as such term is
defined for purposes of Rule 436(g)(2) under the Securities Act; and 
  

 11 

 (ii) there shall not have been, since the date of this Agreement or since the respective
dates as of which information is given in the Disclosure Package and Final Memorandum, any material adverse change in the financial condition or in the earnings of the Company and its subsidiaries, taken as a whole. 
  
 (b) The Initial Purchasers shall have received on the
Closing Date a certificate, dated the Closing Date and signed by the chief executive officer or the chief financial officer of the Company, to the effect set forth in Section 5(a)(i) and to the effect that (i) the representations and
warranties of the Company contained in this Agreement are true and correct in all material respects as of the Closing Date and (ii) the Company has complied in all material respects with all of the agreements and satisfied in all material
respects all of the conditions on its part to be performed or satisfied hereunder on or before the Closing Date. 
  
 The officer signing and delivering such certificate may rely upon the best of his or her knowledge as to proceedings threatened. 
  
 (c) The Initial Purchasers shall have received on the
Closing Date an opinion or opinions and a negative assurances letter of Latham & Watkins LLP, outside counsel for the Company, dated the Closing Date, substantially in the forms set forth in Exhibit B. 
  
 (d) The Initial Purchasers shall have received on the
Closing Date an opinion of Latham & Watkins LLP, special tax counsel for the Company, dated the Closing Date, substantially in the form set forth in Exhibit C. 
  
 (e) The Initial Purchasers shall have received on the Closing Date an opinion of the Company’s general
counsel or any assistant general counsel, dated the Closing Date, substantially in the form set forth in Exhibit D. 
  
 (f) The Initial Purchasers shall have received on the Closing Date an opinion of Shearman & Sterling LLP, counsel for the Initial
Purchasers, dated the Closing Date, covering the matters set forth in Exhibit E. 
  
 (g) The Initial Purchasers shall have received on the date hereof a letter, dated the date hereof, in form and substance reasonably
satisfactory to the Initial Purchasers, from Ernst & Young LLP, independent registered public accountants, containing statements and information of the type ordinarily included in accountants’ “comfort letters” to
underwriters with respect to the financial statements and certain financial information contained in or incorporated by reference into the Disclosure Package and the Final Memorandum and on the Closing Date, the Initial Purchasers shall have
received a letter from Ernst & Young LLP, in form and substance reasonably satisfactory to the Initial Purchasers, to the effect that they reaffirm the statements made in the letter dated the date hereof. 
  
 6. Covenants of the Company. In further consideration of the
agreements of the Initial Purchasers contained in this Agreement, the Company covenants with each Initial Purchaser as follows: 
  
 (a) To furnish to you in New York City, without charge, prior to 10:00 a.m. New York City time on the business day next succeeding the
date of this Agreement and during 

  

 12 

 
the period mentioned in Section 6(c), as many copies of the Final Memorandum, and any supplements and amendments thereto as you may reasonably request.

  
 (b) Before amending or supplementing any
Memorandum, to furnish to you a copy of each such proposed amendment or supplement and not to use any such proposed amendment or supplement to which you reasonably object. 
  
 (c) If, at any time prior to the completion of the resale of the Securities by the Initial Purchasers, any
event shall occur or condition exist as a result of which it is necessary, in the reasonable opinion of the Initial Purchasers or counsel for the Initial Purchasers, to amend or supplement the Final Memorandum in order to make the statements
therein, in the light of the circumstances when the Final Memorandum is delivered to a purchaser, not misleading, or if, in the reasonable opinion of counsel for the Initial Purchasers, it is necessary to amend or supplement the Final Memorandum to
comply with applicable law, forthwith to prepare and furnish, at its own expense, to the Initial Purchasers, either amendments or supplements to the Final Memorandum so that the statements in the Final Memorandum as so amended or supplemented will
not, in the light of the circumstances when the Final Memorandum is delivered to a purchaser, be misleading or so that the Final Memorandum, as amended or supplemented, will comply with applicable law. 
  
 (d) To endeavor to qualify the Securities for offer and sale
under the securities or Blue Sky laws of such jurisdictions as you shall reasonably request provided, however, that the Company shall not be required to (i) qualify as a foreign corporation or as a dealer in securities in any
jurisdiction where it would not otherwise be required to qualify but for this Section 3(d), (ii) file any general consent to service of process, (iii) subject itself to taxation in any such jurisdiction if it is not so subject or
(iv) make any changes to its certificate of incorporation or bylaws. 
  
 (e) Whether or not the transactions contemplated in this Agreement are consummated or this Agreement is terminated, to pay or cause to be paid all expenses incident to the performance of its obligations under this
Agreement, including: (i) the fees, disbursements and expenses of the Company’s counsel and the Company’s accountants in connection with the issuance and sale of the Securities and all other fees or expenses of the Company in
connection with the preparation of each Memorandum and all amendments and supplements thereto, including all printing costs associated therewith, and the delivering of copies thereof to the Initial Purchasers, in the quantities herein above
specified, (ii) all costs and expenses related to the preparation, issuance and delivery of the Securities to the Initial Purchasers, or the issuance or delivery of the Common Stock issuable upon conversion thereof, including any transfer or
other taxes payable thereon, (iii) all expenses in connection with the qualification of the Securities and the shares of Common Stock issuable upon conversion for offer and sale under state securities laws as provided in Section 6(d),
including filing fees and the reasonable fees and disbursements of counsel for the Initial Purchasers in connection with such qualification and in connection with the preparation of any Blue Sky or legal investment memorandum, (iv) any fees
charged by rating agencies for the rating of the Securities, (v) the costs and charges of the Trustee, and (vi) all other cost and expenses incident to the performance of the obligations of the Company hereunder for which provision is not
otherwise made in this Section. It is understood, however, that except as provided in clause (iii) of this Section 8, and the last paragraph of Section 10, the 

  

 13 

 
Initial Purchasers will pay all of their costs and expenses, including fees and disbursements of their counsel, transfer taxes payable on resale of any of
the Securities by them and any advertising expenses connected with any offers they may make. 
  
 (f) Not to, and to cause its Affiliates not to, sell, offer for sale or solicit offers to buy or otherwise negotiate in respect of any
security (as defined in the Securities Act) which could be integrated with the sale of the Securities in a manner which would require the registration under the Securities Act of the Securities. 
  
 (g) Not to solicit any offer to buy or offer or sell the
Securities by means of any form of general solicitation or general advertising (as those terms are used in Regulation D under the Securities Act) or in any manner involving a public offering within the meaning of Section 4(2) of the Securities
Act. 
  
 (h) While any of the Securities remain
“restricted securities” within the meaning of Rule 144(a)(3) of the Securities Act, to make available, upon request, to any seller of such Securities the information specified in Rule 144A(d)(4) under the Securities Act, unless the Company
is then subject to Section 13 or 15(d) of the Exchange Act. 
  
 (i) During the period of two years after the Closing Date, the Company will not, and will not permit any of its affiliates (as defined in Rule 144 under the Securities Act) to resell any of the Securities which
constitute “restricted securities” under Rule 144 that have been reacquired by any of them. 
  
 7. Offering of Securities; Restrictions on Transfer. Each Initial Purchaser, severally and not jointly, represents and warrants that such Initial
Purchaser is a qualified institutional buyer as defined in Rule 144A under the Securities Act (a “QIB”). Each Initial Purchaser, severally and not jointly, agrees with the Company that (i) it has not and will not solicit offers
for, or offer or sell, such Securities by any form of general solicitation or general advertising (as those terms are used in Regulation D under the Securities Act) or in any manner involving a public offering within the meaning of Section 4(2)
of the Securities Act, (ii) it has and will solicit offers for such Securities only from, and will offer such Securities only to, persons that it reasonably believes to be QIBs that, in purchasing such Securities are deemed to have represented
and agreed as provided in the Disclosure Package and the Final Memorandum under the caption “Transfer Restrictions,” and (iii) it will otherwise act in accordance with the terms and conditions set forth in this Agreement and the
Memorandum in connection with the placement of the Securities contemplated hereby. 
  
 8. Indemnity and Contribution. (a) The Company will indemnify and hold harmless each Initial Purchaser against any losses, claims, damages or liabilities, joint or several, to which such Initial Purchaser
may become subject, under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon an untrue statement or alleged untrue statement of a material fact
contained in the Disclosure Package, the Final Memorandum and any Supplemental Offering Materials relating to the Securities, or any amendment or supplement thereto, or arise out of or are based upon the omission or alleged omission to state therein
a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse such Initial 

  

 14 

 
Purchaser for any legal or other expenses reasonably incurred by it in connection with investigating or defending any such action or claim as such expenses
are incurred; provided, however, that the Company shall not be liable in any such case to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or
alleged omission made in the Disclosure Package, the Final Memorandum and any Supplemental Offering Materials relating to the Securities, or in any such amendment or supplement thereto, in reliance upon and in conformity with written information
furnished to the Company by such Initial Purchaser expressly for use therein. 
  
 (b) Each Initial Purchaser will indemnify and hold harmless the Company against any losses, claims, damages or liabilities to which the Company may become subject, under the Securities Act or otherwise, insofar as
such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon an untrue statement or alleged untrue statement of a material fact contained in the Disclosure Package, the Final Memorandum and any
Supplemental Offering Materials relating to the Securities, or any amendment or supplement thereto, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to
make the statements therein not misleading, in each case to the extent, but only to the extent, that such untrue statement or alleged untrue statement or omission or alleged omission was made in the Disclosure Package, the Final Memorandum and any
Supplemental Offering Materials relating to the Securities, or any such amendment or supplement thereto, in reliance upon and in conformity with written information furnished to the Company by such Initial Purchaser expressly for use therein; and
will reimburse the Company for any legal or other expenses reasonably incurred by the Company in connection with investigating or defending any such action or claim as such expenses are incurred. 
  
 (c) As promptly as reasonably practical after receipt by an
indemnified party under paragraph (a) or (b) above of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party under such subsection, notify the
indemnifying party in writing of the commencement thereof; but the omission so to notify the indemnifying party shall not relieve it of its obligations (i) under paragraph (a) or (b), as applicable, of this Section 8 unless and only
to the extent that the indemnifying party is materially prejudiced by the failure to notify, or (ii) from any liability which it may have to any indemnified party otherwise than under such applicable subsection. In case any such action shall be
brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate therein and, to the extent that it shall wish, jointly with any other indemnifying
party similarly notified, to assume the defense thereof, and retain counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the
fees and disbursements of such counsel related to such proceeding. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified
party unless (1) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel or (2) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying
party and the indemnified party and representation of both parties by the same counsel would, in the written opinion of legal 

  

 15 

 
counsel to the indemnified party, be inappropriate due to actual or potential differing interests between them. 
  
 It is understood that the indemnifying party shall not, in respect of the
legal expenses of any indemnified party in connection with any proceeding or related proceedings in the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to any local counsel) for all such indemnified
parties and that all such fees and expenses shall be reimbursed as they are incurred. Such firm shall be designated in writing by Merrill Lynch or, if Merrill Lynch is not an indemnified party and is not reasonably likely to become an indemnified
party, by the Initial Purchasers that are indemnified parties, in the case of parties indemnified pursuant to paragraph (a) above, and by the Company, in the case of parties indemnified pursuant to paragraph (b) above. No indemnifying
party shall, without the written consent of the indemnified party, effect the settlement or compromise of, or consent to the entry of any judgment with respect to, any pending or threatened action or claim in respect of which indemnification or
contribution may be sought hereunder (whether or not the indemnified party is an actual or potential party to such action or claim) unless such settlement, compromise or judgment (i) includes an unconditional release of the indemnified party
from all liability arising out of such action or claim and (ii) does not include a statement as to, or an admission of, fault, culpability or a failure to act, by or on behalf of any indemnified party. 
  
 (d) If the indemnification provided for in this
Section 8 is unavailable or insufficient to hold harmless an indemnified party under subsection (a) or (b) above in respect of any losses, claims, damages or liabilities (or actions in respect thereof) referred to therein, then each
indemnifying party shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (or actions in respect thereof) in such proportion as is appropriate to reflect the relative
benefits received by the Company on the one hand and each Initial Purchaser on the other from the offering of the Securities to which such loss, claim, damage or liability (or action in respect thereof) relates. If, however, the allocation provided
by the immediately preceding sentence is not permitted by applicable law, then each indemnifying party shall contribute to such amount paid or payable by such indemnified party in such proportion as is appropriate to reflect not only such relative
benefits but also the relative fault of the Company on the one hand and each Initial Purchaser on the other in connection with the statements or omissions which resulted in such losses, claims, damages or liabilities (or actions in respect thereof),
as well as any other relevant equitable considerations. The relative benefits received by the Company on the one hand and each Initial Purchaser on the other shall be deemed to be in the same proportion as the total net proceeds from the sale of
Securities (before deducting expenses) received by the Company bear to the total commissions and discounts received by such Initial Purchaser in respect thereof. The relative fault shall be determined by reference to, among other things, whether the
untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact required to be stated therein or necessary in order to make the statements therein not misleading relates to information supplied by
the Company on the one hand or by any Initial Purchaser on the other and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The Company and each Initial Purchaser
agree that it would not be just and equitable if contribution pursuant to this subsection (d) were determined by pro rata allocation (even if all Initial Purchasers were treated as one entity for such purpose) or by any other method of
allocation which does not take account of the equitable considerations referred 

  

 16 

 
to above in this subsection (d). The amount paid or payable by an indemnified party as a result of the losses, claims, damages or liabilities (or actions in
respect thereof) referred to above in this subsection (d) shall be deemed to include any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim.
Notwithstanding the provisions of this subsection (d), an Initial Purchaser shall not be required to contribute any amount in excess of the amount by which the total price at which the Securities that were offered and sold to the public through such
Initial Purchaser exceeds the amount of any damages which such Initial Purchaser has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent
misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The obligations of each of the Initial Purchasers under
this subsection (d) to contribute are several in proportion to the respective purchases made by or through each such Initial Purchaser to which such loss, claim, damage or liability (or action in respect thereof) relates and are not joint.

  
 (e) The obligations of the Company under this
Section 8 shall be in addition to any liability which the Company may otherwise have and shall extend, upon the same terms and conditions, to each person, if any, who controls any Initial Purchaser within the meaning of Section 15 of the
Securities Act or Section 20 of the Exchange Act; and the obligations of each Initial Purchaser under this Section 8 shall be in addition to any liability which such Initial Purchaser may otherwise have and shall extend, upon the same
terms and conditions, to each officer and director of the Company and to each person, if any, who controls the Company within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act. 
  
 9. Termination. This Agreement shall be subject to termination in the
Initial Purchasers’ absolute discretion, by written notice to the Company, if (a) after the execution and delivery of this Agreement and prior to the Closing Date (i) trading generally shall have been suspended or materially limited
on or by, as the case may be, any of the New York Stock Exchange, the American Stock Exchange or the National Association of Securities Dealers, Inc., (ii) trading of any securities of the Company shall have been suspended on any exchange or in
any over-the-counter market, (iii) a general moratorium on commercial banking activities in New York shall have been declared by either Federal or New York State authorities, or (iv) there shall have occurred any outbreak or escalation of
hostilities or any change in financial markets or any calamity or crisis that, in the judgment of the Initial Purchasers, is material and adverse and (b) in the case of any of the events specified in clauses (a)(i) through (iv), such event,
singly or together with any other such event, makes it, in the judgment of the Initial Purchasers, impracticable to market the Securities on the terms and in the manner contemplated in the Disclosure Package and the Final Memorandum. 
  
 10. Effectiveness; Defaulting Initial Purchasers. This Agreement shall
become effective upon the execution and delivery hereof by the parties hereto. 
  
 If, on the Closing Date, any one or more of the Initial Purchasers shall fail or refuse to purchase Securities that it or they have agreed to purchase hereunder on such date, and the aggregate principal amount of
Securities which such defaulting Initial Purchaser or Initial Purchasers agreed but failed or refused to purchase is not more than one-tenth of the aggregate 

  

 17 

 
principal amount of Securities to be purchased on such date, the other Initial Purchasers shall be obligated severally in the proportions that the principal
amount of Securities set forth opposite their respective names in Schedule I bears to the aggregate principal amount of Securities set forth opposite the names of all such non-defaulting Initial Purchasers, or in such other proportions as you may
specify, to purchase the Securities which such defaulting Initial Purchaser or Initial Purchasers agreed but failed or refused to purchase on such date; provided that in no event shall the principal amount of Securities that any Initial
Purchaser has agreed to purchase pursuant to this Agreement be increased pursuant to this Section 10 by an amount in excess of one-ninth of such principal amount of Securities without the written consent of such Initial Purchaser. If, on the
Closing Date any Initial Purchaser or Initial Purchasers shall fail or refuse to purchase Securities which it or they have agreed to purchase hereunder on such date and the aggregate principal amount of Securities with respect to which such default
occurs is more than one-tenth of the aggregate principal amount of Securities to be purchased on such date, and arrangements satisfactory to you and the Company for the purchase of such Securities are not made within 36 hours after such default,
this Agreement shall terminate without liability on the part of any non-defaulting Initial Purchaser or of the Company. In any such case either you or the Company shall have the right to postpone the Closing Date, but in no event for longer than
seven days, in order that the required changes, if any, in the Final Memorandum or in any other documents or arrangements may be effected. Any action taken under this paragraph shall not relieve any defaulting Initial Purchaser from liability in
respect of any default of such Initial Purchaser under this Agreement. 
  
 If this Agreement shall be terminated by the Initial Purchasers, or any of them, because of any failure or refusal on the part of the Company to comply with the terms or to fulfill any of the conditions of this Agreement, or if for any
reason the Company shall be unable to perform its obligations under this Agreement, the Company will reimburse the Initial Purchasers or such Initial Purchasers as have so terminated this Agreement with respect to themselves, severally, for all
out-of-pocket expenses (including the fees and disbursements of their counsel) reasonably incurred by such Initial Purchasers in connection with this Agreement or the offering contemplated hereunder. 
  
 11. Counterparts. This Agreement may be executed in any number of
counterparts and by the parties in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. 
  
 12. Applicable Law. This Agreement shall be governed by the laws of
the State of New York, including, without limitation, Section 5-1401 of the New York General Obligations Law. 
  
 13. Severability. In the event that any one or more of the provisions contained herein, or the application thereof in any circumstance, is held
invalid, illegal or unenforceable, the validity, legality and enforceability of any such provision in every other respect and of the remaining provisions contained herein shall not be affected or impaired thereby. 
  
 14. Section References. Unless otherwise indicated, references in this
Agreement to sections are to the sections of this Agreement. 
  

 18 

 15. Headings. The headings in this Agreement are for convenience of reference only and shall not
limit or otherwise affect the construction hereof. 
  
 16.
Notice. All notices and other communications hereunder shall be in writing and shall be deemed to have been duly given if mailed or transmitted by any standard form of telecommunication. Notices to the Initial Purchasers shall be directed to
Merrill Lynch, Pierce, Fenner & Smith Incorporated at 4 World Financial Center, New York, New York 10080 (facsimile no. 310-209-3940), Attention: Harry McMahon, with a copy to Shearman & Sterling LLP at 525 Market Street, San
Francisco, California 94105 (facsimile no. 415-616-1199), Attention: John D. Wilson; notices to the Company shall be directed to it at One Amgen Center Drive, Thousand Oaks, California 91320-1799 (facsimile no. 805-499-8011), Attention: Corporate
Secretary, with a copy to Latham & Watkins LLP, 633 West Fifth Street, Suite 4000, Los Angeles, California 90071 (facsimile no. 213-891-8763), Attention: Scott Hodgkins and Greg Rodgers. 
  
 17. No Advisory or Fiduciary Relationship. The Company acknowledges
and agrees that (a) the purchase and sale of the Securities pursuant to this Agreement, including the determination of the offering price of the Securities and any related discounts and commissions, is an arm’s-length commercial
transaction between the Company, on the one hand, and the several Initial Purchasers, on the other hand, (b) in connection with the offering contemplated hereby and the process leading to such transaction each Initial Purchaser is and has been
acting solely as a principal and is not the agent or fiduciary of the Company, or its stockholders, creditors, employees or any other party, (c) no Initial Purchaser has assumed or will assume an advisory or fiduciary responsibility in favor of
the Company with respect to the offering contemplated hereby or the process leading thereto (irrespective of whether such Initial Purchaser has advised or is currently advising the Company on other matters) and no Initial Purchaser has any
obligation to the Company with respect to the offering contemplated hereby except the obligations expressly set forth in this Agreement, (d) the Initial Purchasers and their respective affiliates may be engaged in a broad range of transactions
that involve interests that differ from those of each of the Company, and (e) the Initial Purchasers have not provided any legal, accounting, regulatory or tax advice with respect to the offering contemplated hereby and the Company has
consulted its own legal, accounting, regulatory and tax advisors to the extent it deemed appropriate. 
  
 18. Integration. This Agreement supersedes all prior agreements and understandings (whether written or oral) between the Company and the Initial
Purchasers, or any of them, with respect to the subject matter hereof. 
  
 [Remainder of page intentionally left blank] 
  

 19 

			
	 Very truly yours,

	
	 AMGEN INC.

		
	 By:
	 	 /s/ Richard D. Nanula

	 Name:
	 	 Richard D. Nanula

	 Title:
	 	 Executive Vice President and
 Chief Financial Officer

  

			
	 Accepted as of the date hereof

	
	 MERRILL LYNCH & CO.

	 MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED

	
	 MORGAN STANLEY & CO. INCORPORATED

	
	Acting severally on behalf of themselves and the several Initial Purchasers named in Schedule A hereto.
	
	 By: Merrill Lynch, Pierce, Fenner & Smith Incorporated

		
	 By:
	 	 /s/ Kevin Cook

	 Name:
	 	 Kevin Cook

	 Title:
	 	 Vice President

  

 20 

 SCHEDULE A 
  

				
	 INITIAL PURCHASERS

	  	PRINCIPAL AMOUNT OF
SECURITIES TO BE
PURCHASED

	 % SENIOR CONVERTIBLE NOTES DUE 2011
	  	 	 
	 Merrill Lynch, Pierce, Fenner & Smith Incorporated
	  	$	430,555,556
	 Morgan Stanley & Co. Incorporated
	  	$	430,555,556
	 Citigroup Global Markets Inc.
	  	$	430,555,556
	 J.P. Morgan Securities Inc.
	  	$	430,555,556
	 Lehman Brothers Inc.
	  	$	430,555,556
	 Bear, Stearns & Co. Inc.
	  	$	173,611,110
	 Credit Suisse Securities (USA) LLC
	  	$	173,611,110
	 	  	
	

	 Total:
	  	$	2,500,000,000
		
	 % SENIOR CONVERTIBLE NOTES DUE 2013
	  	 	 
		
	 Merrill Lynch, Pierce, Fenner & Smith Incorporated
	  	$	430,555,556
	 Morgan Stanley & Co. Incorporated
	  	$	430,555,556
	 Citigroup Global Markets Inc.
	  	$	430,555,556
	 J.P. Morgan Securities Inc.
	  	$	430,555,556
	 Lehman Brothers Inc.
	  	$	430,555,556
	 Bear, Stearns & Co. Inc.
	  	$	173,611,110
	 Credit Suisse Securities (USA) LLC
	  	$	173,611,110
	 	  	
	

	 Total:
	  	$	2,500,000,000

  

 21 

 SCHEDULE B 
  
 PRICING SUPPLEMENT 
  
 **APPROVED FOR EXTERNAL USE** 
 **QIBS ONLY** 
  
 ~ $2,500,000,000 144A Convertible Senior Notes Due 2011 Pricing ~

 and 
 ~ $2,500,000,000 144A Convertible Senior Notes Due 2013 Pricing ~ 
  
 Amgen Inc. 
 (AMGN/NASDAQ) 
  
 Gross Proceeds: $5,000,000,000 
  
 Issuer: Amgen Inc. 
 Ticker/Exchange: AMGN/NASDAQ 
 Offering Size: $5,000,000,000 
 Net Proceeds: Approximately $4,912,500,000 after deducting initial purchasers’ discounts, commissions 
 and offering expenses 
  
 144A Convertible Senior Notes Due 2011 Pricing Terms: 
  
 Issue Price: $1,000 
 Principal Amount per Note: $1,000 
 Maturity: February 1, 2011 
 Interest Rate: 0.125% per annum 
 Conversion Premium: 11.00% 
 Last Sale (2/14/2006): $71.93 
 Conversion Price: $79.84 
 Conversion Rate: 12.5247* 
 Conversion Rate Cap: 13.9024* 
 Contingent
Conversion Trigger Immediately Following Issuance: $103.79 (130% of the initial 
 conversion price per share of common stock) 

 
 Conversion During Month Prior to Maturity: A holder may convert its
notes at any time on or after 
 1/1/11 through the business day preceding the maturity date. 
  
 Interest Pay Dates: 2/1 & 8/1 beginning 8/1/06 

	*	Subject to anti-dilution adjustments. 

 Adjustment to Conversion Rate upon a Change in Control: In the event of any change in control, a

 holder may elect to convert its notes and Amgen will pay a make-whole premium by increasing the 
 conversion rate applicable to such notes. 
  
 2011 Notes Make-Whole Table: 
  

													
	 	  	Effective Date

	 Stock Price on Effective Date

	  	February 17,
2006

	  	February 1,
2007

	  	February 1,
2008

	  	February 1,
2009

	  	February 1,
2010

	  	February 1,
2011

	 $71.93
	  	1.3777	  	1.3777	  	1.3777	  	1.3777	  	1.3777	  	1.3777
	 $75.00
	  	1.1797	  	1.2154	  	1.2362	  	1.2202	  	1.1312	  	0.8086
	 $80.00
	  	0.9181	  	0.9280	  	0.9170	  	0.8674	  	0.7306	  	0.0000
	 $85.00
	  	0.7169	  	0.7113	  	0.6772	  	0.6103	  	0.4579	  	0.0000
	 $90.00
	  	0.5615	  	0.5462	  	0.5022	  	0.4251	  	0.2787	  	0.0000
	 $95.00
	  	0.4410	  	0.4203	  	0.3724	  	0.2964	  	0.1642	  	0.0000
	 $100.00
	  	0.3472	  	0.3240	  	0.2758	  	0.2056	  	0.0943	  	0.0000
	 $105.00
	  	0.2740	  	0.2502	  	0.2041	  	0.1418	  	0.0528	  	0.0000
	 $110.00
	  	0.2166	  	0.1931	  	0.1506	  	0.0971	  	0.0284	  	0.0000
	 $115.00
	  	0.1715	  	0.1493	  	0.1108	  	0.0657	  	0.0155	  	0.0000
	 $120.00
	  	0.1359	  	0.1153	  	0.0809	  	0.0438	  	0.0100	  	0.0000
	 $125.00
	  	0.1074	  	0.0889	  	0.0575	  	0.0298	  	0.0097	  	0.0000
	 $130.00
	  	0.0836	  	0.0681	  	0.0450	  	0.0207	  	0.0093	  	0.0000
	 $135.00
	  	0.0675	  	0.0521	  	0.0342	  	0.0179	  	0.0089	  	0.0000
	 $140.00
	  	0.0566	  	0.0416	  	0.0261	  	0.0173	  	0.0085	  	0.0000
	 $145.00
	  	0.0469	  	0.0332	  	0.0245	  	0.0166	  	0.0083	  	0.0000
	 $150.00
	  	0.0388	  	0.0315	  	0.0236	  	0.0159	  	0.0076	  	0.0000
	 $155.00
	  	0.0349	  	0.0284	  	0.0227	  	0.0153	  	0.0072	  	0.0000
	 $160.00
	  	0.0303	  	0.0273	  	0.0219	  	0.0147	  	0.0072	  	0.0000
	 $165.00
	  	0.0298	  	0.0264	  	0.0212	  	0.0140	  	0.0066	  	0.0000
	 $170.00
	  	0.0294	  	0.0256	  	0.0206	  	0.0136	  	0.0066	  	0.0000
	 $175.00
	  	0.0290	  	0.0248	  	0.0198	  	0.0131	  	0.0058	  	0.0000
	 $180.00
	  	0.0285	  	0.0240	  	0.0193	  	0.0128	  	0.0058	  	0.0000
	 $185.00
	  	0.0293	  	0.0234	  	0.0187	  	0.0123	  	0.0053	  	0.0000
	 $190.00
	  	0.0291	  	0.0229	  	0.0182	  	0.0118	  	0.0053	  	0.0000
	 $195.00
	  	0.0281	  	0.0220	  	0.0176	  	0.0116	  	0.0049	  	0.0000
	 $200.00
	  	0.0276	  	0.0219	  	0.0173	  	0.0112	  	0.0047	  	0.0000

  
 Put Dates: None

  
 Registration: 144A with Registration Rights 

 
 Dividend Protection: Full dividend protection via a conversion rate
adjustment 
  
 Conversion After a Public Acquirer Change in
Control: In the case of a public acquirer change in 
 control, Amgen may, in lieu of issuing additional shares upon conversion, elect to
adjust the conversion 
 rate and related conversion obligation such that holders of 2011 notes will be entitled to convert their 

notes into a number of shares of public acquirer common stock. 
  

Change in Control Permits Purchase of Notes by Amgen at the Option of the Holder: In the event of 
 any change of control, each holder has the right to require Amgen to purchase for cash all or any portion 
 of the holder’s notes at a price equal to 100% of the principal amount of notes to be purchased, plus 
 accrued and unpaid interest. 
  
 Consideration Received Upon Merger: In the event Amgen is a party to a consolidation, merger, 
 binding share exchange or transfer of all or substantially all of its assets, settlement of the conversion 
 value will be based on the kind and amount of cash, securities or other assets that an Amgen common 
 stockholder received in the transaction (or, if the transaction provides common stockholders with the right 

  

 23 

 
to receive more than a single type of consideration determined based upon any form of stockholder 
 election, the weighted average of the types and amounts of consideration received by the 
 common stockholders). 
  
 Trade Date: 2/14/06

 Settlement Date: 2/17/06 
 144A CUSIP: 031162AM2 
  
 144A Convertible
Senior Notes Due 2013 Pricing Terms: 
  
 Issue Price:
$1,000 
 Principal Amount per Note: $1,000 
 Maturity: February 1, 2013 
 Interest Rate: 0.375% per annum 
 Conversion Premium: 10.50% 
 Last Sale
(2/14/2006): $71.93 
 Conversion Price: $79.48 
 Conversion Rate: 12.5814* 
 Conversion Rate Cap: 13.9024* 
  
 Contingent Conversion Trigger Immediately
Following Issuance: $103.33 (130% of the initial 
 conversion price per share of common stock) 
  
 Conversion During Month Prior to Maturity: A holder may convert its
notes at any time on or after 
 1/1/13 through the business day preceding the maturity date. 
  
 Interest Pay Dates: 2/1 & 8/1 beginning 8/1/06 
  
 Adjustment to Conversion Rate upon a Change in Control: In the event
of any change in control, a 
 holder may elect to convert its notes and Amgen will pay a make-whole premium by increasing the 
 conversion rate applicable to such notes. 
  
 2013 Notes Make-Whole Table: 
  

																	
	 	  	Effective Date

	 Stock Price on Effective Date

	  	February 17,
2006

	  	February 1,
2007

	  	February 1,
2008

	  	February 1,
2009

	  	February 1,
2010

	  	February 1,
2011

	  	February 1,
2012

	  	February 1,
2013

	 $71.93
	  	1.3210	  	1.3210	  	1.3210	  	1.3210	  	1.3210	  	1.3210	  	1.3210	  	1.3210
	 $75.00
	  	1.1568	  	1.1837	  	1.2126	  	1.2288	  	1.2285	  	1.1969	  	1.0933	  	0.7519
	 $80.00
	  	0.9384	  	0.9448	  	0.9445	  	0.9392	  	0.9133	  	0.8494	  	0.6997	  	0.0000
	 $85.00
	  	0.7681	  	0.7630	  	0.7451	  	0.7194	  	0.6780	  	0.5985	  	0.4358	  	0.0000
	 $90.00
	  	0.6347	  	0.6221	  	0.5955	  	0.5612	  	0.5029	  	0.4192	  	0.2652	  	0.0000
	 $95.00
	  	0.5296	  	0.5120	  	0.4803	  	0.4418	  	0.3789	  	0.2919	  	0.1578	  	0.0000

	*	Subject to anti-dilution adjustments 

  

 24 

																	
	 $100.00
	  	0.4459	  	0.4255	  	0.3911	  	0.3513	  	0.2895	  	0.2086	  	0.0935	  	0.0000
	 $105.00
	  	0.3791	  	0.3573	  	0.3220	  	0.2827	  	0.2240	  	0.1520	  	0.0589	  	0.0000
	 $110.00
	  	0.3248	  	0.3030	  	0.2678	  	0.2302	  	0.1757	  	0.1128	  	0.0404	  	0.0000
	 $115.00
	  	0.2811	  	0.2586	  	0.2252	  	0.1893	  	0.1398	  	0.0855	  	0.0314	  	0.0000
	 $120.00
	  	0.2456	  	0.2236	  	0.1914	  	0.1579	  	0.1129	  	0.0688	  	0.0301	  	0.0000
	 $125.00
	  	0.2163	  	0.1951	  	0.1634	  	0.1341	  	0.0972	  	0.0574	  	0.0290	  	0.0000
	 $130.00
	  	0.1933	  	0.1747	  	0.1471	  	0.1162	  	0.0840	  	0.0548	  	0.0279	  	0.0000
	 $135.00
	  	0.1772	  	0.1580	  	0.1317	  	0.1028	  	0.0773	  	0.0527	  	0.0268	  	0.0000
	 $140.00
	  	0.1622	  	0.1444	  	0.1190	  	0.0963	  	0.0744	  	0.0508	  	0.0259	  	0.0000
	 $145.00
	  	0.1460	  	0.1319	  	0.1119	  	0.0940	  	0.0718	  	0.0490	  	0.0249	  	0.0000
	 $150.00
	  	0.1416	  	0.1251	  	0.1084	  	0.0909	  	0.0693	  	0.0474	  	0.0239	  	0.0000
	 $155.00
	  	0.1374	  	0.1203	  	0.1058	  	0.0861	  	0.0672	  	0.0455	  	0.0227	  	0.0000
	 $160.00
	  	0.1335	  	0.1167	  	0.0983	  	0.0833	  	0.0647	  	0.0440	  	0.0222	  	0.0000
	 $165.00
	  	0.1301	  	0.1140	  	0.0962	  	0.0804	  	0.0627	  	0.0426	  	0.0211	  	0.0000
	 $170.00
	  	0.1276	  	0.1109	  	0.0938	  	0.0780	  	0.0608	  	0.0412	  	0.0202	  	0.0000
	 $175.00
	  	0.1244	  	0.1083	  	0.0915	  	0.0758	  	0.0590	  	0.0399	  	0.0198	  	0.0000
	 $180.00
	  	0.1213	  	0.1067	  	0.0893	  	0.0735	  	0.0574	  	0.0388	  	0.0189	  	0.0000
	 $185.00
	  	0.1183	  	0.1039	  	0.0885	  	0.0716	  	0.0557	  	0.0376	  	0.0185	  	0.0000
	 $190.00
	  	0.1153	  	0.1016	  	0.0867	  	0.0699	  	0.0543	  	0.0367	  	0.0179	  	0.0000
	 $195.00
	  	0.1129	  	0.0996	  	0.0842	  	0.0678	  	0.0531	  	0.0356	  	0.0173	  	0.0000
	 $200.00
	  	0.1095	  	0.0971	  	0.0823	  	0.0663	  	0.0517	  	0.0346	  	0.0167	  	0.0000

  
 Put Dates: None

  
 Registration: 144A with Registration Rights 

 
 Dividend Protection: Full dividend protection via a conversion rate
adjustment 
  
 Conversion After a Public Acquirer Change in
Control: In the case of a public acquirer change in 
 control, Amgen may, in lieu of issuing additional shares upon conversion, elect to
adjust the conversion 
 rate and related conversion obligation such that holders of 2013 notes will be entitled to convert their 

notes into a number of shares of public acquirer common stock. 
  

Change in Control Permits Purchase of Notes by Amgen at the Option of the Holder: In the event of 
 any change of control, each holder has the right to require Amgen to purchase for cash all or any portion 
 of the holder’s notes at a price equal to 100% of the principal amount of notes to be purchased, plus 
 accrued and unpaid interest. 
  
 Consideration Received Upon Merger: In the event Amgen is a party to a consolidation, merger, 
 binding share exchange or transfer of all or substantially all of its assets, settlement of the conversion 
 value will be based on the kind and amount of cash, securities or other assets that an Amgen common 
 stockholder received in the transaction (or, if the transaction provides common stockholders with the right 
 to receive more than a single type of consideration determined based upon any form of stockholder 
 election,
the weighted average of the types and amounts of consideration received by the common 
 stockholders). 
  
 Trade Date: 2/14/06 
 Settlement Date: 2/17/06 
 144A CUSIP:
031162AP5 
  

  
 Use of Proceeds: Amgen intends to use (1) approximately $3 billion of the net proceeds from this 
 offering on or about the Closing Date to purchase shares of Amgen common stock under Amgen’s 
 common stock repurchase program, including through one or more block trades with one or more of the 

  

 25 

 
initial purchasers and/or their affiliates and (2) approximately $1.5 billion to fund convertible note hedge 
 transactions to be entered into with affiliates of Merrill Lynch, Pierce, Fenner & Smith Incorporated and 
 Morgan Stanley & Co. Incorporated. The remaining net proceeds will be added to Amgen’s working 
 capital and will be used for general corporate purposes. 
  
 Cash, Cash Equivalents, and Marketable Securities as of 12/31/05 (As Adjusted): $6.455 billion 
 Common Stock and Additional Paid-In Capital as of 12/31/05 (As Adjusted): $22.861 billion 
 Total Stockholders’ Equity as of 12/31/05 (As Adjusted): $16.751 billion 
 Total Capitalization as of 12/31/05 (As Adjusted): $25.708 billion 
  
 Joint Book-Running Managers: Merrill Lynch, Morgan Stanley, Citigroup 
 Global Markets, JPMorgan,
and Lehman Brothers 
 Co-Managers: Bear Stearns and Credit Suisse 
  
 You should rely only on the information contained or incorporated by reference in the preliminary 
 offering memorandum dated February 13, 2006, as supplemented by this final pricing term sheet in 
 making an investment decision with respect to these securities. 
  
 **QIBS ONLY** 
 **APPROVED FOR EXTERNAL USE** 
  
 This
communication is intended for the sole use of the person to whom it is provided by us. 
  
 A written offering circular may be obtained from your Merrill Lynch sales representative, from Merrill Lynch, Pierce, Fenner & Smith Incorporated, 4 World Financial Center, FL 05, New York, NY 10080 or, in
Canada, from Merrill Lynch Canada Inc., 181 Bay Street-Suite 400, Toronto, Ontario M4T 2A9. 
  
 A written offering circular may be obtained from your Morgan Stanley sales representative, from Morgan Stanley & Co. Incorporated, 180 Varick Street, New York, NY 10014. 
  
 ANY DISCLAIMERS OR OTHER NOTICES THAT MAY APPEAR BELOW ARE NOT 
 APPLICABLE TO THIS COMMUNICATION AND SHOULD BE DISREGARDED. SUCH 
 DISCLAIMERS OR OTHER NOTICES WERE AUTOMATICALLY GENERATED AS A 
 RESULT OF THIS COMMUNICATION BEING SENT VIA
BLOOMBERG OR ANOTHER 
 EMAIL SYSTEM. 
  

 26

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