Amgen boosts 2026 guidance following Q3 beats
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- Amgen (AMGN) increased its revenue and profit guidance ranges for 2026 after releasing Q3 results that beat on both lines.
- Full-year revenue is now projected at $38.9B-$39.7B (consensus $38.97B), up from $38B-$39.4B prior. Non-GAAP EPS is seen at $22.90-$23.70 (consensus $23.02), compared to $22.30-$23.50 before.
- In Q3, non-GAAP EPS of $6.45 compares to $5.64 in the year-ago period.
- Amgen was helped in the quarter by a 37% year-over-year increase in its best-selling drug, the cholesterol medicine Repatha (evolocumab), to ~$1.1B.
- Revenue for the company's former top-selling drug, the osteoporosis treatment Prolia (denosumab), fell 45% to $632M due to biosimilar competition.
- Evenity (romosozumab) and Tezspire (tezepelumab) saw double-digit YoY percentage growth of 39% and 43% to $751M and $538M, respectively.
- Amgen ended the quarter (Sept. 30) with cash and cash equivalents of $13.2B compared to $9.1B on Dec. 31, 2025.
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