Amgen Beats Quarterly Estimates and Raises 2026 Outlook
The biotech firm reported adjusted earnings of $5.15 per share on revenue of $8.6 billion for the quarter. Amgen also slightly raised its full-year outlook.
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AMGEN INC reported first-quarter product sales rose 4% to $8.6 billion, driven by demand for cholesterol and rare disease treatments. Adjusted earnings of $5.15 per share beat LSEG estimates of $4.76 as volume growth offset falling net prices. Investors are focused on the expansion of the MariTide weight-loss program to counter patent expirations on older bone drugs.
Product sales grew 9% by volume in the United States and global markets, though net prices and inventory levels each fell 2%. Total revenue rose 6% from a year earlier, matching the average Wall Street estimate.
