AMGN · 10-Q · 2026Q3 · Full report

Operating Expense Trends

AMGEN INC · 2026-11-04 · Importance 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 and Early Pipeline spending, including business development activity; nine-month growth also included Later-Stage Clinical Programs, primarily MariTide. Selling, general and administrative expense declined 2% to $1.680 billion for the quarter and 1% to $5.027 billion for the nine months, as lower general and administrative expenses exceeded higher commercial product-related expenses. Total operating expenses declined 5% for the quarter to $6.655 billion and 7% for the nine months to $19.147 billion.

Key facts

• R&D expense increased in the nine months ended September 30, 2026, driven by higher spending in Research and Early Pipeline, including business development activity, and Later-Stage Clinical Programs, primarily MariTide. source
• Other operating expenses in the three and nine months ended September 30, 2026 included intangible asset impairment charges; the nine-month period also included items associated with legal proceedings. source
• Amgen’s operating expenses decreased 5% and 7% for the three and nine months ended September 30, 2026, respectively, reflecting lower acquisition-related asset amortization and 2025 Otezla impairment charges, partly offset by higher Research and Early Pipeline spend, higher profit share expense and sales-mix changes. source
• R&D expense increased in the three months ended September 30, 2026, driven by higher spending in Research and Early Pipeline, including business development activity. source
• SG&A expense decreased in the three and nine months ended September 30, 2026, driven by lower general and administrative expenses, partly offset by higher commercial product-related expenses. source