Amgen Inc. reported a total revenue of $36.8 billion for the fiscal year ending December 31, 2025, marking a 10% increase from $33.4 billion in 2024. This growth was primarily driven by a 10% rise in product sales, which reached $35.1 billion, supported by a 13% increase in volume, although partially offset by a 3% decline in net selling prices. The company's net income surged to $7.7 billion, an 89% increase compared to $4.1 billion in the previous year, resulting in a diluted earnings per share (EPS) of $14.23, up from $7.56 in 2024.

In terms of operational developments, Amgen's product portfolio saw significant contributions from several key products. Repatha, for instance, experienced a 36% increase in sales, reaching $3 billion, while TEZSPIRE sales grew by 52% to $1.5 billion. The company also expanded its manufacturing capabilities, with ongoing projects in Ohio and North Carolina, and broke ground on a new R&D facility in Thousand Oaks, California. As of December 31, 2025, Amgen employed approximately 31,500 staff members globally, reflecting a stable workforce amidst its expansion efforts.

Strategically, Amgen has made notable acquisitions, including the purchase of Horizon Therapeutics, which added products like TEPEZZA and KRYSTEXXA to its portfolio. The acquisition has contributed to increased product sales, with TEPEZZA generating $1.9 billion in sales for 2025. However, the company faces challenges from increased competition, particularly as patents for key products like Prolia and XGEVA expired in February 2025, leading to anticipated sales erosion from biosimilars.

Looking ahead, Amgen anticipates continued growth in product sales, although it expects net selling price declines to persist. The company is also navigating a complex regulatory environment, particularly with the implementation of the Inflation Reduction Act (IRA) and the Most-Favored-Nations Executive Order, which could impact pricing and reimbursement strategies. Despite these challenges, Amgen remains committed to investing in R&D, with expenses rising to $7.3 billion in 2025, and plans to maintain its focus on innovative therapies to address unmet medical needs.

About AMGEN INC

Amgen Inc. is a leading biotechnology company focused on developing innovative medicines for serious diseases. With a robust pipeline, it offers products like Enbrel, Repatha, and Otezla, targeting high unmet medical needs. Amgen operates globally, leveraging advanced manufacturing technologies to enhance efficiency and sustainability. Recent initiatives include the FDA approvals of IMDELLTRA and MariTide, addressing cancer and obesity, respectively, while expanding access through strategic partnerships.

This description was generated via AI from an annual report. Updated 8 months ago.

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