Amgen Q1 2026 Financial Results were released, showcasing a strong performance for the biotechnology giant as it navigates a period of patent expirations and increasing market competition. The company reported total revenues of $8.62 billion for the first quarter ended March 31, 2026, marking a 6% increase compared to the $8.15 billion reported in the same period last year.
This performance was bolstered by significant volume growth and the continued expansion of Amgen’s innovative portfolio.
Our first quarter results demonstrate the strength of our business, with 16 brands achieving double-digit growth.
Robert A. Bradway, Chairman and CEO.
Key Financial Performance Summary
| Metric | Q1 2026 (Actual) | Q1 2025 (Actual) | Year-over-Year Change |
| Total Revenue | $8.618 Billion | $8.149 Billion | +6% |
| GAAP Net Income | $1.819 Billion | $1.730 Billion | +5% |
| GAAP EPS | $3.34 | $3.20 | +4% |
| Non-GAAP EPS | $5.15 | $4.90 | +5% |
| Free Cash Flow | $1.5 Billion | $1.0 Billion | +50% |
| Operating Margin | 45.3% | 45.7% | -0.4 pts |
Learn More: Lilly Q1 2026 Financial Results: Guidance Raised as Demand Surges
Strong Product Growth Drives Amgen Q1 2026 Financial Results
A major driver behind the Amgen Q1 2026 Financial Results was the 4% increase in product sales, which totaled $8.2 billion. The company’s “six key growth drivers” now account for nearly 70% of total sales, growing collectively by 24% year-over-year.
Repatha®, a leading cardiovascular treatment, saw sales jump 34% to $876 million. Similarly, Evenity® and TEPEZZA® maintained strong momentum with 27% and 29% growth, respectively.
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Detailed Product Sales Breakdown
For a closer look at the portfolio performance mentioned in the Amgen Q1 2026 Financial Results, see the table below:
| Product Name | Q1 2026 Sales ($M) | YoY Growth % | Primary Driver |
| Repatha® | $876 | +34% | Volume |
| Evenity® | $452 | +27% | Global Demand |
| TEPEZZA® | $515 | +29% | Rare Disease Expansion |
| Uplizna® | $125 | +188% | Market Adoption |
| Nplate® | $412 | +32% | U.S. Govt Orders |
| Prolia® | $1,050 | +6% | Osteoporosis Volume |
Future Guidance and Pipeline Expansion
Following the positive Amgen Q1 2026 Financial Results, management has raised its full-year 2026 guidance. The company now expects total revenues to fall between $37.1 billion and $38.5 billion, with non-GAAP EPS ranging from $21.70 to $23.10.
A significant point of interest for investors is the expansion of the MariTide Phase III program. Amgen is currently conducting switching studies and long-term dosing evaluations for this obesity candidate, aiming to differentiate it from competitors by offering monthly or quarterly dosing schedules.
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