AMGN · 10-Q · 2026Q3 · Full report

Operating Income and Margins

AMGEN INC · 2026-11-04 · Importance 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 from acquisition-related assets and the impact of Otezla intangible-asset impairment charges recorded in 2025, partly offset by higher Research and Early Pipeline spending, higher profit-share expense and sales-mix changes. Third-quarter operating income rose to $3.710 billion from $2.526 billion, while nine-month operating income increased to $9.890 billion from $6.360 billion. Net income was $3.864 billion for the quarter and $8.058 billion for the nine-month period, and diluted EPS was $7.08 and $14.79, respectively.

Key facts

• Amgen’s Ventura County antitrust court granted its demurrers against complaints filed by Centene, Humana and Molina on August 17, 2026, with leave to amend, finding the pleaded allegations did not show Immunex and Roche continued as separate entities after the exclusive license as required by California’s Cartwright Act. source
• An adverse determination in one or more legal matters pending against Amgen could materially adversely affect its consolidated results of operations, financial position or cash flows. source