Amgen Inc. Reports First Quarter 2026 Financial Results

Amgen Inc. reported its financial results for the first quarter of 2026, with total revenues increasing by 6% to $8.6 billion compared to the first quarter of 2025. Product sales grew by 4%, driven by a 9% increase in volume, partially offset by a 2% decrease in net selling price and a 2% decrease from lower inventory levels. Sixteen products achieved double-digit sales growth. GAAP earnings per share (EPS) increased by 4% to $3.34, while non-GAAP EPS rose by 5% to $5.15. The company generated $1.5 billion in free cash flow for the quarter. Several key products showed significant year-over-year sales increases, including Repatha, EVENITY, TEPEZZA, UPLIZNA, and TEZSPIRE. However, Prolia and Enbrel experienced sales declines due to increased competition and pricing pressures, respectively. The company also provided its full-year 2026 guidance, expecting total revenues between $37.1 billion and $38.5 billion. Pipeline updates included progress on the MariTide program for weight management and cardiovascular outcomes, as well as developments in various rare disease and oncology indications. Notably, the FDA proposed to withdraw approval for TAVNEOS due to effectiveness concerns, and Amgen is engaging with the FDA to support its position.