AMGN · Healthcare

AMGEN INC

Ranked earnings events from SEC filings, earnings calls, press releases and news. Full Picture: everything published this earnings window

News · 2026-11-08

• Obesity Drug CompetitionImportance 31 · Surprise 42
  Amgen is developing MariTide for monthly or quarterly injections, compared with weekly dosing for rival obesity drugs Wegovy and Zepbound. Phase 2 data showed about 20% weight loss, trailing some competitors, while the…
• Quarterly Dividend IncreaseImportance 25 · Surprise 32
  Amgen has raised its quarterly dividend every year since 2011, increasing it ninefold over that period. Dividend growth compounded at about 16% annually, while the latest increase was around 6%. The report says the…
• Revenue Performance and MixImportance 24 · Surprise 14
  Amgen reported third-quarter 2026 revenue of US$10.365 billion, up 8.5% year over year. Third-quarter net income was US$3.864 billion. The digest does not provide segment revenue figures or explain the sources of the…
• Repatha Cardiovascular Outcomes DataImportance 17 · Surprise 24
  Amgen’s Repatha was cited as benefiting from positive real-world data showing a 20% reduction in heart attack risk. The report says the data reinforced Amgen’s strategy of building its cardiometabolic franchise around…

News · 2026-11-05

• Repatha Cardiovascular Outcomes DataImportance 35 · Surprise 48
  A real-world study of more than 544,000 adults with atherosclerotic cardiovascular disease (ASCVD) and prior statin use found that Repatha (evolocumab) reduced the risk of fatal or nonfatal heart attacks by 20%…

10-Q · 2026-11-04

• Capital Expenditures ProgramImportance 93 · Surprise 82
  Capital expenditures were $1.8 billion during the nine months ended September 30, 2026, compared with $1.2 billion in the same 2025 period. The spending primarily funded construction of new plants and…
• Prolia Biosimilar CompetitionImportance 84 · Surprise 74
  Prolia sales fell 45% globally in the third quarter and 37% in the first nine months of 2026 as multiple biosimilars launched in the U.S. and ROW. Nine-month sales declined to $2.118 billion from $3.360 billion. The…
• XGEVA Biosimilar CompetitionImportance 78 · Surprise 74
  Global XGEVA sales decreased 47% in the third quarter and 36% in the first nine months of 2026 as multiple biosimilars launched in the U.S. and ROW. Nine-month sales fell to $1.051 billion from $1.637 billion. The…
• Liquidity and Debt PositionImportance 64 · Surprise 56
  At September 30, 2026, cash and cash equivalents were $13.190 billion, up from $9.129 billion at December 31, 2025; total assets were $96.048 billion. Current and long-term debt were $2.398 billion and $51.609 billion,…
• Repatha Demand GrowthImportance 64 · Surprise 56
  Global Repatha sales increased for the three and nine months ended September 30, 2026, primarily because of volume growth. Nine-month sales rose to $2.914 billion from $2.146 billion, an increase of approximately 36%.…
• Operating Expense TrendsImportance 60 · Surprise 40
  Research and development expense increased 11% to $2.111 billion for the three months ended September 30, 2026, and increased 11% to $5.698 billion for the nine months. Quarterly R&D growth reflected higher Research…
• Operating Cash Flow TrendsImportance 59 · Surprise 48
  Net cash provided by operating activities increased to $10.432 billion for the nine months ended September 30, 2026, from $8.355 billion in the prior-year period. The increase primarily reflected the final $1.8 billion…
• Medicare Drug Price SettingImportance 58 · Surprise 42
  In January 2025, the Centers for Medicare & Medicaid Services selected Otezla for Medicare price setting, applicable beginning January 1, 2027. Amgen says the earlier-than-anticipated selection reduced estimated future…
• Otezla Generic CompetitionImportance 56 · Surprise 58
  Global Otezla sales declined 18% in the third quarter and 14% in the first nine months of 2026; nine-month sales were $1.403 billion versus $1.640 billion. ROW sales were adversely affected by generic competition after…
• Enbrel Pricing PressureImportance 56 · Surprise 58
  Enbrel’s nine-month sales declined 11% to $1.511 billion, primarily reflecting a 19% lower net selling price. Amgen attributed the lower price to the ongoing impact of U.S. Medicare Part D price setting effective in…
• IRS Tax DisputesImportance 50 · Surprise 24
  The IRS disputes the allocation of profits between Amgen entities in the United States and Puerto Rico for tax years 2010–2015, seeking approximately $3.6 billion and $5.1 billion in additional federal tax,…
• Revenue Performance and MixImportance 49 · Surprise 32
  Worldwide product sales for the three months ended September 30, 2026 rose 8% to $9.883 billion from $9.137 billion, and nine-month sales rose 7% to $27.638 billion from $25.781 billion. Repatha sales increased on…
• Operating Income and MarginsImportance 49 · Surprise 32
  Operating expenses were $6.655 billion for the third quarter of 2026, down 5% year over year, and $19.147 billion for the first nine months, down 7%. The company attributed the decreases to lower amortization expense…
• U.S. Tax Law ChangesImportance 47 · Surprise 60
  The United States enacted the One Big Beautiful Bill Act (OB3) on July 4, 2025, with most provisions effective January 1, 2026. The law modifies the international tax framework, and Amgen says its foreign earnings are…
• Tavneos FDA Withdrawal ProposalImportance 47 · Surprise 60
  On April 27, 2026, FDA’s Center for Drug Evaluation and Research (CDER) proposed withdrawing TAVNEOS’s U.S. approval, citing alleged lack of substantial evidence of effectiveness and untrue material statements in the…
• IRS Tax ExaminationsImportance 47 · Surprise 60
  The IRS is examining Amgen’s 2016–2018 tax years and issued draft proposed adjustments in April 2026, reissued in May and July, concerning allocation of profits between U.S. entities and the U.S. territory of Puerto…
• Gross Margin DriversImportance 46 · Surprise 40
  Cost of sales fell 10% to $2.788 billion for the third quarter and 8% to $8.343 billion for the first nine months of 2026. Cost of sales decreased to 26.9% of total revenues for the quarter and 28.7% for the nine-month…
• Capital Return ProgramImportance 43 · Surprise 32
  Amgen paid $4.1 billion of dividends during the nine months ended September 30, 2026, compared with $3.8 billion in the prior-year period. The Board declared quarterly dividends of $2.52 per share for each of the first…
• Drug Pricing Policy ImpactImportance 40 · Surprise 42
  Amgen states that the Inflation Reduction Act (IRA) and expanded use of 340B discounts have negatively affected, and are likely to continue to negatively affect, its business. CMS selected ENBREL for Medicare price…
• Trade Policy and TariffsImportance 40 · Surprise 42
  Amgen reports that the U.S. Administration issued a proclamation in April 2026 imposing Section 232 tariffs on certain patented pharmaceuticals and associated active pharmaceutical ingredients. The company says it…
• Product Pipeline ProgressImportance 34 · Surprise 42
  In August 2026, TEZSPIRE met co-primary and key secondary endpoints in the Phase 3 CROSSING trial in eosinophilic esophagitis, with improvements sustained through week 52. The European Commission expanded Repatha’s…
• Nplate Demand GrowthImportance 31 · Surprise 32
  Global Nplate sales increased 15% in the first nine months of 2026, with sales reaching $1.314 billion versus $1.139 billion. Excluding U.S. government orders, nine-month sales increased 13%, driven by 11% volume…
• Guidance and OutlookImportance 17 · Surprise 24
  For the remainder of 2026, Amgen expects volume growth from certain brands to be partially offset by net selling price declines. The company does not quantify the expected effects on revenue, margins or earnings in…
• Income Tax Rate ChangesImportance 15 · Surprise 14
  Amgen’s effective tax rate was 17.5% for the three months ended September 30, 2026, compared with 18.0% a year earlier, and 15.5% for the nine months, compared with 14.5%. The quarterly rate decrease primarily…
• Stock Repurchase ProgramImportance 10 · Surprise 6
  Amgen repurchased no shares under its stock repurchase program during the nine months ended September 30, 2026, compared with no repurchases in the same 2025 period. As of September 30, 2026, $6.8 billion of…
• Macroeconomic Factors ImpactImportance 10 · Surprise 6
  Amgen says uncertain macroeconomic conditions, including inflation risk, fluctuating interest rates and financial system instability, continue to pose challenges to its business. It also cites rising healthcare costs,…

News · 2026-11-04

• Guidance and OutlookImportance 63 · Surprise 60
  Amgen raised its 2026 revenue guidance to $38.9 billion–$39.7 billion and non-GAAP earnings guidance to $22.90–$23.70 per share. Management maintained its expected full-year non-GAAP operating margin at 45%–46% of…
• Market Demand TrendsImportance 43 · Surprise 32
  Amgen’s third-quarter 2026 revenue rose more than 8% to $10.37 billion, with 17 products annualizing at more than $1 billion in sales. However, six blockbuster products recorded sales declines, including three with…
• Revenue Performance and MixImportance 37 · Surprise 32
  Q3 2026 total revenue increased 8% year over year to $10.4 billion, while product sales rose 8% to $9.88 billion, driven by higher volumes. Six key growth drivers grew 27% and accounted for more than 70% of product…
• Quarterly Dividend IncreaseImportance 31 · Surprise 32
  Amgen declared a dividend of $2.52 per share for Q3 2026. The dividend was 6% higher than in Q3 2025.
• Operating Expense TrendsImportance 30 · Surprise 40
  Q3 2026 non-GAAP R&D expense increased 11% year over year, driven by higher spending on research and the early pipeline, including business development. SG&A expense decreased 1% year over year, primarily because of…
• Net Income and EPS PerformanceImportance 25 · Surprise 22
  Amgen reported Q3 2026 GAAP EPS of $7.08, up 19% year over year, and GAAP net income of $3.86 billion. Adjusted earnings were $6.45 per share, a 14% year-over-year increase, and exceeded the Zacks consensus estimate of…
• Capital Expenditures ProgramImportance 19 · Surprise 6
  Q3 2026 capital expenditures were $600 million. Amgen expected full-year 2026 capital expenditures of approximately $2.6 billion.
• Free Cash FlowImportance 15 · Surprise 6
  Amgen generated $3.7 billion of free cash flow in Q3 2026. The digest did not provide a year-over-year comparison or additional cash-flow drivers for the quarter.
• Operating Income and MarginsImportance 13 · Surprise 6
  Amgen reported a Q3 2026 non-GAAP operating margin of 47%. Management maintained its full-year 2026 non-GAAP operating-margin outlook at 45% to 46% of product sales. The reported figures do not quantify a…

Earnings call · 2026-11-03

• Guidance and OutlookImportance 75 · Surprise 60
  Amgen raised its 2026 revenue guidance to $38.9 billion–$39.7 billion and non-GAAP EPS guidance to $22.90–$23.70. The company expects 2026 non-GAAP other expense of $2.0 billion–$2.1 billion and a full-year non-GAAP…
• Rare Disease Product DemandImportance 65 · Surprise 48
  The rare disease portfolio grew 21% year-over-year to $1.6 billion, reflecting demand from additional indications and international expansion. UPLIZNA sales rose 191% to $451 million, with demand across approved…
• Oncology Product DemandImportance 65 · Surprise 48
  Innovative Oncology grew 21% year-over-year to $2.1 billion, with BLINCYTO sales up 27% to $496 million. BLINCYTO growth reflected broad prescribing in academic and community settings and increasing international…
• Biosimilar Market CompetitionImportance 59 · Surprise 48
  Amgen's biosimilar portfolio grew 26% year-over-year to $977 million in quarterly sales. PAVBLU, its EYLEA biosimilar, grew 41% to $300 million, with retina specialists recognizing its prefilled-syringe presentation…
• Repatha Market DemandImportance 58 · Surprise 56
  Repatha sales grew 37% year-over-year to $1.1 billion, and U.S. average weekly new-to-brand prescriptions increased more than 60% year-over-year. Management cited greater treatment urgency in secondary prevention and…
• TEZSPIRE Market DemandImportance 58 · Surprise 56
  TEZSPIRE sales grew 43% year-over-year to $538 million, driven by demand in severe uncontrolled asthma. U.S. new-to-brand prescriptions grew 15% year-over-year compared with 3% market growth, and the product reached…
• EVENITY Market DemandImportance 52 · Surprise 56
  EVENITY sales increased 39% year-over-year to $751 million, following 38% growth in the previous quarter. In the United States, demand was supported by an expanding prescriber base and deeper physician adoption, and…
• Capital ExpendituresImportance 50 · Surprise 24
  Amgen reported $600 million of capital expenditures in the third quarter of 2026, including investments at manufacturing sites in North Carolina, Ohio, and Puerto Rico. Management expects approximately $2.6 billion of…
• Revenue Performance and MixImportance 49 · Surprise 32
  Third-quarter 2026 total revenue and product sales each grew 8% year over year; total revenue was $10.4 billion. Amgen’s six key growth drivers grew 27% and accounted for more than 70% of product sales, while 17…
• Capital Return ProgramImportance 49 · Surprise 32
  Amgen paid a third-quarter 2026 dividend of $2.52 per share, 6% higher than the third quarter of 2025. Management expects 2026 share repurchases not to exceed $3 billion. The CFO said the company intends to balance…
• Regulatory Approval MilestonesImportance 47 · Surprise 60
  The FDA recently shortened the recommended monitoring period for IMDELLTRA’s first two doses from 22–24 hours to 6–8 hours, reducing the burden of initiating treatment in community oncology settings. Amgen said the…
• Manufacturing Capacity ExpansionImportance 40 · Surprise 42
  Management said capacity expansion is designed to support larger quantities of protein rather than biosimilar production, and expressed confidence in Amgen's ability to remain a reliable supplier of high-quality…
• Operating Expense TrendsImportance 36 · Surprise 40
  Third-quarter non-GAAP operating margin was 47%. Non-GAAP R&D spending increased 11% year over year, driven by higher research and early-pipeline spending, including business-development activity. SG&A expense…
• Income Tax Rate ChangesImportance 26 · Surprise 6
  Amgen expects its full-year 2026 non-GAAP tax rate to be 15%–16.5%. Management provided this rate as part of its 2026 financial outlook; no year-over-year tax-rate comparison or dollar impact was stated.
• Obesity Drug CompetitionImportance 26 · Surprise 24
  Management positioned MariTide as a differentiated potential monthly obesity therapy, with dosing potentially as infrequently as four or six times per year, compared with daily oral and weekly injectable products and…
• Biosimilar Launch CompetitionImportance 26 · Surprise 24
  Amgen described the OPDIVO and KEYTRUDA biosimilar market as competitive and declined to provide commercial launch timing. Management said it expects to launch these biosimilars first or in the first wave, which it…
• Product Launch and TransitionImportance 26 · Surprise 24
  Amgen said adoption of xaluritamig, its STEAP1-CD3 bispecific for prostate cancer, will depend on building familiarity and confidence among care teams, including urology groups and community practices. The company…
• Acquisition / Partnership / DivestitureImportance 16 · Surprise 6
  Management said Amgen’s business-development focus remains on opportunities aligned with its four therapeutic areas of focus and its goal of consistent long-term growth. The CEO noted that a meaningful portion of…

8-K · 2026-11-03

• Income Tax Rate ChangesImportance 18 · Surprise 14
  The third-quarter GAAP tax rate decreased 0.5 percentage points year over year to 17.5%, while the non-GAAP rate decreased 2.3 points to 15.9%. The company attributed the GAAP decrease primarily to the change in…
• Product Inventory TrendsImportance 18 · Surprise 14
  Inventory levels were cited as a driver of sales changes for several products, but the release did not quantify inventory balances or establish a broad supply constraint. TEPEZZA sales decreased 6% to $526 million,…