Amgen disclosed second‑quarter revenue of over $10 billion, a 10% increase from the same period a year earlier, during the Wells Fargo 21st Annual Healthcare Conference on September 10, 2026. The biotech giant said 22 products delivered double‑digit sales growth in the quarter.
The six designated growth drivers—Repatha, EVENITY, TEZSPIRE, rare‑disease therapies, innovative oncology and biosimilars—collectively rose 26% YoY and represented roughly 70% of total product sales. Non‑GAAP operating margin for the quarter was cited at about 48%, with full‑year guidance now set at 45% to 46%. CFO Thomas Dittrich noted that past peak margins were in the 50s percent range, but the company is willing to accept modestly lower margins to fund long‑term growth and cash returns.
Repatha showed a 37% YoY increase in Q2 sales, with new‑to‑brand prescriptions climbing more than 50% and weekly new patient starts exceeding 16,000 by the end of August. The drug received European Union approval for primary prevention at the end of August, though PCSK9 inhibitor penetration remains in the low‑ to mid‑single‑digit range.
UPLIZNA, approved for NMOSD, IgG4‑related disease and generalized myasthenia gravis, posted a 90% YoY sales rise, split evenly between new patients and switches. The company also highlighted positive phase‑III data for IMDELLTRA in extensive‑stage small‑cell lung cancer, TEZSPIRE in eosinophilic esophagitis, and TEPEZZA in thyroid eye disease.
In its obesity and metabolic portfolio, Amgen reported phase‑II results for MariTide showing about 20% weight loss, reductions in triglycerides and high‑sensitivity CRP, and an 11‑mmHg drop in blood pressure. The therapy uses a three‑step dose escalation and can be administered every eight weeks or quarterly, translating to four to six doses per year in maintenance.
The company also updated on biosimilar progress: ABP 234, a KEYTRUDA biosimilar, completed phase‑III testing and is slated for regulatory filing in the second half of 2026, while ABP 206, an OPDIVO biosimilar, received FDA acceptance with a decision expected by year‑end.
Amgen’s stock closed around $376.35 in mid‑September, with a price‑to‑earnings multiple of 23.83 and a PEG ratio of 0.77. Thirteen analysts raised earnings estimates following the conference.
