Amgen Crushes Q2 Expectations with Double-Digit Revenue Growth
Amgen reported strong Q2 2026 earnings results on Tuesday, August 4, driven by double-digit revenue growth across several key product lines. Total revenues reached $10.1 billion, a 10% increase year-over-year, while GAAP EPS rose 65% to $4.37.
The company's Repatha sales grew 37% year-over-year, with U.S. new-to-brand prescriptions up 50%. Evenity sales increased 38%, reaching category leadership in Japan with over 55% volume share. Tezspire sales jumped 42% due to strong demand in severe uncontrolled asthma and expanded Medicare access.
Amgen's Rare Disease Portfolio sales reached $1.6 billion, a 21% year-over-year increase across key medicines. The Innovative Oncology Portfolio saw an 18% rise to $2.0 billion driven by new product adoption. Biosimilar Portfolio sales grew 29% to $855 million following the launch of new candidates.
The company raised its FY 2026 revenue guidance to $38.2-$39.4 billion and updated non-GAAP EPS guidance to $22.30-$23.50. Research and Development Expenses increased 10% year-over-year to support nine ongoing Phase 3 trials for MariTide, a promising obesity treatment.