Amgen (NASDAQ: AMGN) reported a 6% year-over-year increase in first-quarter revenue, totaling approximately $6.6 billion, alongside a 5% rise in non-GAAP earnings per share. Key growth products, including Repatha and EVENITY, contributed significantly, generating 70% of total product sales, which collectively grew 24% from the previous year.
At a Goldman Sachs event, CFO Peter Griffith emphasized that 17 Amgen products are annualizing over $1 billion in sales. The company is optimistic about its pipeline with potential treatments such as MariTide, designed for obesity and type 2 diabetes, and currently expanding clinical efforts in various therapeutic areas. Additionally, a tax dispute with the IRS is ongoing, with Amgen defending against proposed adjustments totaling nearly $7 billion.
Griffith also highlighted plans for 2026, stating that the company aims for operating margins of 45% to 46% while balancing financial discipline with investments that yield significant shareholder returns.
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