Amgen 3Q 2026: Revenue $10.37B, EPS $7.08— 10-Q Summary

What happened

Amgen reported third-quarter 2026 revenue of $10.37 billion and net income of $3.86 billion, with diluted earnings per share, or profit allocated to each share, of $7.08. Revenue rose 8.5% and net income 20.1% from a year earlier. Nine-month product sales increased 7% to $27.6 billion.

Confirmed

Global impact / market context

Sales growth was supported by higher product volumes, but lower net prices partly offset that increase. Meanwhile, biosimilar competition—similar medicines sold after a product’s protections lapse—has cut Prolia and XGEVA sales, creating pressure that could require growth from other medicines to replace lost revenue.

Analyst inference

The results show growth alongside uneven product performance: several medicines grew strongly, while Prolia and XGEVA declined as biosimilars launched. For investors, the key financial tension is whether volume gains and newer products can offset lower prices and continued erosion in those established products.

Analyst inference

What to watch

1. Watch whether reported product sales continue to grow through higher volumes, and whether lower net prices increasingly offset those gains in the coming periods. Analyst inference
2. Track Prolia and XGEVA sales after biosimilar launches; Amgen expects further erosion, so their declines could add pressure to revenue. Confirmed
3. Follow whether positive Phase 3 results for TEZSPIRE and dazodalibep lead to later development or regulatory steps; the article reports results, not approvals. Analyst inference

Evidence

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