Amgen Q2 Earnings Crush Estimates, Raises 2026 Outlook on Drug Demand
AMGN sits 45% above its 52-week low of $269.77.
Summary
Amgen delivered a strong Q2 beat, with adjusted EPS of $6.29 versus the $5.62 consensus and revenue of $10.1B against a $9.42B estimate. The company raised its full-year 2026 guidance to $22.30-$23.50 EPS on $38.2B-$39.4B in revenue, up from prior ranges. Growth was driven by key products: Repatha sales surged 37% to $953M, Evenity rose 38% to $714M, and rare disease drugs Uplizna and Tavneos grew 90% and 36%, respectively. The company also discontinued early-stage obesity candidate AMG 513, narrowing focus to MariTide, with Phase 3 data expected next year. This follows a turbulent period including the FDA's proposed Tavneos withdrawal and a recent cybersecurity breach, making the operational beat and raised guidance a notable positive signal. The results overshadow Merck's competing Lipfendra pill, with management citing unrivaled Repatha efficacy data, and MariTide Phase 3 readouts in 2027 are the next major catalyst.
At the time of this announcement, AMGN was trading at $392.46 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $210.5B. The 52-week trading range was $269.77 to $398.00. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Reuters.