Summary
Amgen Inc. reported solid financial results for the first quarter of 2026, demonstrating growth in total revenues and net income compared to the prior year. Total revenues increased by 6% to $8.62 billion, driven by a 4% rise in product sales and a significant 45% surge in other revenues. Net income grew by 5% to $1.82 billion, resulting in diluted earnings per share of $3.34, up from $3.20 in the first quarter of 2025. The company experienced strong volume growth in key products such as Repatha, EVENITY, and TEPEZZA, while also seeing substantial increases in newer products like UPLIZNA and IMDELLTRA/IMDYLLTRA. Despite the positive top-line and bottom-line growth, investors should note the significant decline in sales for Prolia and XGEVA, which are facing increased biosimilar competition following patent expiries. Operating expenses decreased by 15%, largely due to the absence of a significant intangible asset impairment charge recorded in the prior year, and lower amortization expenses, which helped bolster profitability. However, ongoing litigation, particularly the significant U.S. tax dispute, remains a critical area to monitor, with a decision expected in the second half of 2026. The company also highlighted progress in its pipeline, including positive Phase 3 results for TEPEZZA administered subcutaneously.
Financial Highlights
53 data points| Revenue | $8.62B |
| Cost of Revenue | $2.74B |
| Gross Profit | $5.87B |
| SG&A Expenses | $1.60B |
| Operating Expenses | $5.95B |
| Operating Income | $2.67B |
| Interest Expense | $657.00M |
| Net Income | $1.82B |
| EPS (Basic) | $3.37 |
| EPS (Diluted) | $3.34 |
| Shares Outstanding (Basic) | 540.00M |
| Shares Outstanding (Diluted) | 544.00M |
Key Highlights
- 1Total revenues grew 6% year-over-year to $8.62 billion.
- 2Net income increased 5% to $1.82 billion, with diluted EPS rising to $3.34.
- 3Repatha sales surged 34% driven by strong volume growth.
- 4Prolia and XGEVA sales declined significantly (34% and 27% respectively) due to biosimilar competition.
- 5Operating expenses decreased 15%, largely due to the absence of a prior-year intangible asset impairment charge.
- 6Cash and cash equivalents increased substantially to $12.04 billion.
- 7Amgen is actively engaged in significant U.S. tax litigation with a decision anticipated in the latter half of 2026.