Key facts
- Revenue of $10.4 billion exceeded the average Wall Street estimate of $10.1 billion, according to the report.
- Amgen raised its 2026 outlook to adjusted EPS of $22.90 to $23.70 on revenue of $38.9 billion to $39.7 billion.
- Repatha sales rose 37% to $1.09 billion, slightly ahead of analysts' $1.04 billion expectation.
- Prolia sales fell 45% to $632 million, missing the $697 million forecast, as patent expirations increased competition.
- Amgen said it continues to engage with the FDA, which in April proposed withdrawal of Tavneos.
- Initial Phase 3 results for weight-loss drug MariTide are not expected until 2027, according to the report.
Amgen said on November 3, 2026 that third-quarter sales rose 8% to $10.4 billion, led by demand for cholesterol drug Repatha and newer medicines Imdelltra for lung cancer and rare disease therapy Uplizna, according to a Reuters report. The California-based drugmaker's adjusted earnings rose 14% from a year earlier to $6.45 per share, beating analysts' expectations of $5.79, according to LSEG data. Net earnings per share increased 19% to $7.08.
Quarterly revenue exceeded the average Wall Street estimate of $10.1 billion. Amgen raised its full-year outlook to adjusted earnings of $22.90 to $23.70 per share on revenue of $38.9 billion to $39.7 billion, up from a previous projection of $22.30 to $23.50 per share on revenue of $38.2 billion to $39.4 billion. Analysts are estimating 2026 adjusted EPS of $23.02 on revenue of $38.9 billion.
Sales of Repatha rose 37% for the quarter to $1.09 billion, slightly ahead of analysts' expectations of $1.04 billion. Repatha, a PCSK9 drug given monthly or every two weeks by injection, faces new competition from Merck's daily pill Lipfendra. Sales of bone drug Evenity rose 39% to $751 million, beating analysts' estimates of $724 million. Sales of older osteoporosis drug Prolia fell 45% to $632 million, missing the $697 million forecast by analysts, as patent expirations led to increased competition.
Uplizna sales jumped 191% from a year ago to $451 million, while sales of Imdelltra rose 128% to $406 million. Quarterly sales of Tavneos, approved to treat a rare autoimmune disease, fell 2% to $105 million. Amgen said it continues to engage with the US Food and Drug Administration, which in April proposed withdrawal of the drug, citing a lack of proven effectiveness and concerns about the integrity of trial data. The company said it believes Tavneos has a favorable benefit-risk profile.
Initial results from Amgen's broad group of Phase 3 MariTide trials are not expected until 2027, as the company looks to break into a weight-loss market some analysts forecast could be worth $150 billion annually in the next decade. The drug, an injection given as infrequently as four times a year, is being tested for treating obesity and related conditions, including sleep apnea and heart disease. CEO Robert Bradway said in a statement that the strength of the commercial portfolio, combined with clinical advances and a promising late-stage pipeline, reinforces confidence in Amgen's ability to deliver durable growth well into the next decade.