AMGN · 10-Q · 2026Q3 · Full report

Macroeconomic Factors Impact

AMGEN INC · 2026-11-04 · Importance 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, geopolitical conflict, energy and transportation market volatility, and supply-chain disruption. The filing does not quantify the financial impact of these macroeconomic factors.

Key facts

• Uncertain macroeconomic conditions, geopolitical conflict and tensions, healthcare ecosystem changes, potential MFN pricing reforms, tariffs, and trade protection measures may introduce variability into Amgen product sales. source
• Amgen product sales continue to be affected by IRA provisions, expanded 340B discounts, reductions in federal Medicaid spending, and an increase in the number of people without health insurance. source
• Amgen said geopolitical conflict increased volatility in energy and transportation markets and disrupted global supply chains. source
• Amgen said macroeconomic challenges include inflation risk, fluctuating interest rates, financial system instability, rising healthcare costs, evolving tariffs and trade protection measures, and geopolitical conflict. source