Summary
Amgen Inc. (AMGN) reported strong financial performance for the fiscal year ending December 31, 2025, with total product sales increasing by 10% to $35.1 billion. This growth was primarily driven by a 13% increase in volume, bolstered by key products such as Repatha, EVENITY, TEZSPIRE, and BLINCYTO. The company also saw significant progress in its pipeline, with multiple regulatory approvals and advancements in Phase 3 clinical studies. Amgen's strategic investments in manufacturing capacity expansion and R&D continue to support its long-term growth objectives. However, the company faces ongoing risks from patent expirations, increasing biosimilar competition, and evolving pricing and reimbursement pressures from government and commercial payers.
Financial Highlights
55 data points| Revenue | $36.75B |
| Cost of Revenue | $12.04B |
| Gross Profit | $24.71B |
| SG&A Expenses | $7.05B |
| Operating Expenses | $27.67B |
| Operating Income | $9.08B |
| Interest Expense | $2.75B |
| Net Income | $7.71B |
| EPS (Basic) | $14.33 |
| EPS (Diluted) | $14.23 |
| Shares Outstanding (Basic) | 538.00M |
| Shares Outstanding (Diluted) | 542.00M |
Key Highlights
- 1Amgen reported a 10% year-over-year increase in total product sales, reaching $35.1 billion in 2025, driven by a 13% volume growth.
- 2Repatha sales surged by 36% to $3.0 billion, indicating strong market adoption and effectiveness.
- 3EVENITY and TEZSPIRE demonstrated robust growth, with sales increasing by 34% and 52% respectively, highlighting the success of these newer products.
- 4The company secured multiple regulatory approvals, including expanded indications for UPLIZNA and TEZSPIRE, and full FDA approval for IMDELLTRA, expanding its product portfolio.
- 5Amgen continued to invest heavily in R&D, with expenses increasing by 22% to $7.3 billion, reflecting a commitment to pipeline development.
- 6The company is actively expanding its manufacturing capabilities with significant investments in facilities to support anticipated patient demand.
- 7Amgen faces ongoing challenges from the expiration of patents for Prolia and XGEVA, anticipating accelerated sales erosion due to biosimilar competition.