Amgen's third quarter 2026 revenue and EPS beat expectations behind record Repatha sales

Amgen reported total revenue growth of 8% to $10.37 billion, exceeding the $9.68 billion consensus estimate. Non-GAAP EPS of $6.45 significantly outperformed the $5.74 projection, driven by volume-led growth across seventeen products and continued execution of the Horizon acquisition integration.

Key Highlights

• Repatha sales surged 37% year-over-year to $1.09 billion, crossing the billion-dollar quarterly milestone for the first time.
• Rare disease growth was led by Uplizna, which saw sales increase 191% to $451 million, while Tepezza revenue of $526 million beat estimates despite a 6% YoY decline due to inventory timing.
• The high-stakes MariTide (obesity) pipeline reached key milestones, completing Phase 3 enrollment for cardiovascular outcomes (MARITIME-CV) and obstructive sleep apnea modules.
• Significant biosimilar erosion impacted established brands, with Prolia and Xgeva sales declining 45% and 47% respectively following multiple global biosimilar launches.