Quarterly ResultApr 30, 2026, 04:10 PM
AMGN Q1 Revenue +6% to $8.6B; EPS $3.34; TAVNEOS FDA Withdrawal Proposal
AI Summary
Amgen reported strong first-quarter 2026 financial results, with total revenues increasing 6% to $8.6 billion and GAAP EPS rising 4% to $3.34. The company generated $1.5 billion in free cash flow and increased its quarterly dividend by 6% to $2.52 per share. Sixteen brands achieved double-digit sales growth, including Repatha (+34%) and UPLIZNA (+188%). However, the FDA issued a proposal to withdraw approval for TAVNEOS, citing a lack of substantial evidence of effectiveness, though Amgen intends to contest this. The company also discontinued development of AMG 193 and announced positive Phase 3 results for subcutaneous TEPEZZA.
Key Highlights
- FDA proposed to withdraw approval for TAVNEOS, citing lack of effectiveness evidence.
- Total revenues increased 6% year-over-year to $8.6 billion in Q1 2026.
- GAAP EPS increased 4% to $3.34; non-GAAP EPS increased 5% to $5.15.
- Free cash flow generated $1.5 billion in Q1 2026, up from $1.0 billion.
- Quarterly dividend increased 6% to $2.52 per share.
- Repatha sales rose 34% to $876 million; UPLIZNA sales surged 188% to $262 million.
- Prolia sales decreased 34% to $727 million due to biosimilar competition.
- Discontinued development of AMG 193 following portfolio review.