AMGN · 10-Q · 2026Q3 · Full report

Otezla Generic Competition

AMGEN INC · 2026-11-04 · Importance 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 Otezla lost exclusivity in certain European countries in the first quarter of 2026. The quarterly decline was driven by lower volume, unfavorable changes to estimated sales deductions and lower net selling price, partly offset by higher inventory. Nine-month sales fell because of lower net selling price and volume.

Key facts

• Otezla ROW sales were adversely affected in the three and nine months ended September 30, 2026 by generic competition after loss of exclusivity in certain European countries in the first quarter of 2026. source
• Global Otezla sales decreased in the three months ended September 30, 2026, driven by lower volume of 13%, unfavorable estimated sales deductions of 9%, and lower net selling price of 4%, partly offset by higher inventory. source
• Global Otezla sales decreased in the nine months ended September 30, 2026, driven by lower net selling price of 10% and lower volume of 8%. source