AMGN · News · 20260804N

Competition and Pricing Pressure

AMGEN INC · 2026-08-04 · Importance 64 · Surprise 42

Amgen continues to face biosimilar competition in its legacy bone-health franchises, particularly Prolia and XGEVA. Reports described approximately $7 billion of loss-of-exclusivity headwinds affecting older products. Growth from newer medicines is currently offsetting some of this pressure, but analysts continue to identify biosimilar erosion and patent cliffs as material risks to portfolio performance. The competitive environment is also intensifying in oncology and obesity, where Amgen is advancing T-cell engagers, Imdelltra, and MariTide against other large pharmaceutical companies.

Key facts

• Amgen said it faced biosimilar pressure on its bone-health franchise, which was offset by growth across several key medicines in Q2 2026. source