Amgen (AMGN) came out with quarterly earnings of $5.64 per share, beating the Zacks Consensus Estimate of $5 per share. This compares to earnings of $5.58 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of +12.80%. A quarter ago, it was expected that this world's largest biotech drugmaker would post earnings of $5.26 per share when it actually produced earnings of $6.02, delivering a surprise of +14.45%.Over the last four quarter ...

Financial Data and Key Metrics Changes - Revenues increased by 12% year over year to $9.6 billion, driven by strong performance across key growth drivers [12][20] - Non-GAAP operating margin was reported at 47%, reflecting significant investments across the business [12][15] - Free cash flow generated in the third quarter was $4.2 billion, indicating operational momentum [15] Business Line Data and Key Metrics Changes - Repatha sales reached $794 million, up 40% year over year, now annualizing at approximately $3 billion [20] - EVENITY delivered $541 million in sales, a 36% increase year over year, with U.S. sales growing 44% [23] - The rare disease portfolio grew 13% year over year to $1.4 billion, with Uplizna sales increasing 46% to $155 million [25] - Tezspire sales rose 40% year over year to $377 million, achieving over $1 billion in sales year to date [27] - The oncology portfolio generated $2.3 billion in sales, growing 9% year over year [29] Market Data and Key Metrics Changes - The biosimilar portfolio saw sales increase by 52% year over year to $775 million, now annualizing at $3 billion [30] - Prolia sales increased by 9% year over year to $1.1 billion, although future quarters may see increased competition negatively impacting sales [24] Company Strategy and Development Direction - The company is focused on expanding access to medicines through initiatives like AmgenNow, which offers Repatha at a significantly reduced price [5][23] - Continued investment in manufacturing with over $3 billion planned for the U.S. in 2025, building on over $40 billion invested since 2017 [7][12] - The company aims to drive innovation in areas of high unmet medical need while maintaining rigorous financial discipline [18][19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in sustaining long-term growth, supported by a broad base of innovative medicines [4][11] - The company raised its 2025 guidance for total revenues to a range of $35.8 billion to $36.6 billion and non-GAAP earnings per share to between $20.60 and $21.40 [17] - Management highlighted the importance of the VESALIUS-CV study results for Repatha, which demonstrated significant cardiovascular event reduction [61][62] Other Important Information - The company is actively engaging with policymakers to support policies that improve access and protect innovation [10] - The anticipated approval of Uplizna for generalized myasthenia gravis is expected to expand its patient base significantly [36] Q&A Session Summary Question: Confidence in Olpasiran and Business Development Approach - Management expressed strong confidence in Olpasiran's potential, emphasizing its best-in-class properties and the importance of the Ocean A study [46][47] - The return to pre-Horizon debt levels does not significantly impact the company's business development strategy, which remains focused on earlier-stage opportunities [49] Question: 2026 Guidance and R&D Expenses - Management discussed key growth drivers and the focus on maintaining industry-leading margins while investing in R&D [52][53] - R&D expenses are expected to stabilize after a significant increase, with ongoing investments in late-stage programs [54] Question: VESALIUS-CV Results Impact - The VESALIUS-CV results are anticipated to significantly enhance Repatha's market opportunity, with a focus on improving cardiovascular care [59][60] - Management highlighted the importance of these results in promoting Repatha as a solution for primary prevention of cardiovascular events [62][64] Question: New Biosimilar Guidance Impact - The company does not foresee a change in its strategic focus on biosimilars despite new FDA guidance, maintaining confidence in its competitive position [66][67] - Management believes the biosimilar market is performing well and is committed to ensuring continued access to important medicines [69][70]

Financial Data and Key Metrics Changes - Revenues increased by 12% year over year to $9.6 billion, driven by strong performance across key growth drivers [12][20] - Non-GAAP operating margin was reported at 47%, reflecting significant investments across the business [12][15] - Free cash flow generated in the third quarter was $4.2 billion, indicating operational momentum [15] Business Line Data and Key Metrics Changes - Repatha sales reached $794 million, up 40% year over year, now annualizing at approximately $3 billion [20] - Evenity delivered $541 million in sales, a 36% increase year over year, with a 44% growth in the U.S. [22] - The rare disease portfolio grew 13% year over year to $1.4 billion, now annualizing at over $5 billion [24] - Oncology portfolio generated $2.3 billion in sales, growing 9% year over year [27] Market Data and Key Metrics Changes - The biosimilar portfolio saw sales increase by 52% year over year to $775 million, now annualizing at $3 billion [28] - Uplizna sales increased 46% year over year to $155 million, with significant uptake among rheumatologists [24] Company Strategy and Development Direction - The company is focused on expanding access to medicines through initiatives like Amgen Now, which offers Repatha at a significantly reduced price [5][22] - Continued investment in manufacturing with over $3 billion planned for the U.S. in 2025, building on over $40 billion since 2017 [7][12] - The company aims to drive innovation in areas of high unmet medical need while maintaining rigorous financial discipline [18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in sustaining long-term growth, supported by a broad base of innovative medicines [4][11] - The company raised its 2025 guidance for total revenues to a range of $35.8-$36.6 billion and non-GAAP earnings per share between $20.60 and $21.40 [17] - Management highlighted the importance of the Vesalius CV study results for Repatha, which demonstrated significant cardiovascular event reduction [58][60] Other Important Information - The company is actively engaging with policymakers to support policies that improve access and protect innovation [10] - The launch of Uplizna in new indications is anticipated, with a PDUFA date set for December 14, 2025 [33] Q&A Session Summary Question: Confidence in Olpasiran and Business Development Approach - Management remains confident in Olpasiran's potential, citing strong genetic and epidemiological data supporting its efficacy [44] - The return to pre-Horizon debt levels does not significantly impact the company's business development strategy, which remains focused on earlier-stage opportunities [45][46] Question: 2026 Guidance and R&D Expenses - Key growth drivers will influence the top line, with a focus on maintaining industry-leading margins while investing in R&D [50][52] - R&D expenses are expected to stabilize after a significant increase over the past year, with ongoing investments in late-stage programs [51] Question: Vesalius CV Results Impact - The Vesalius CV study is expected to significantly enhance Repatha's market opportunity, with a focus on improving cardiovascular care [58][60] - Management emphasized the importance of the study's findings for primary care physicians and the broader healthcare community [61] Question: New Biosimilar Guidance Impact - The new FDA biosimilar guidance does not change the company's strategic focus on biosimilars, which continue to be a strong growth area [65] - The company is well-positioned to adapt to any new regulatory requirements while maintaining competitiveness in the biosimilar market [66][67]

Financial Data and Key Metrics Changes - Revenues increased by 12% year over year to $9.6 billion, driven by strong performance across key growth drivers [10][18] - Non-GAAP operating margin was reported at 47%, reflecting significant investments across the business [11] - Free cash flow generated in the third quarter was $4.2 billion, indicating operational momentum [12] Business Line Data and Key Metrics Changes - Repatha sales reached $794 million, up 40% year over year, now annualizing at approximately $3 billion [18] - Evenity delivered $541 million in sales, a 36% increase year over year, with a 44% growth in the U.S. [20] - The rare disease portfolio grew 13% year over year to $1.4 billion, with Uplizna sales increasing 46% to $155 million [23] - Tezspire sales rose 40% year over year to $377 million, achieving over $1 billion in sales year to date [25] - The oncology portfolio generated $2.3 billion in sales, growing 9% year over year [26] Market Data and Key Metrics Changes - The biosimilar portfolio saw sales increase by 52% year over year to $775 million, now annualizing at $3 billion [27] - Evenity holds over 60% market share in the U.S. bone builder segment, with significant untapped potential [21] - Repatha is now accessible to over 95% of insured patients in the U.S., with most paying less than $50 out of pocket [19] Company Strategy and Development Direction - The company is focused on expanding access to medicines through initiatives like Amgen Now, which offers Repatha at a significantly reduced price [20] - Continued investment in manufacturing with over $3 billion planned for the U.S. in 2025, building on over $40 billion since 2017 [5] - The company aims to drive innovation in areas of high unmet medical need while maintaining rigorous financial discipline [16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in sustaining long-term growth, supported by a broad base of innovative medicines [3] - The company raised its 2025 revenue guidance to a range of $35.8-$36.6 billion and non-GAAP earnings per share to between $20.60 and $21.40 [15] - Management highlighted the importance of the Vesalius CV study results for Repatha, which could significantly impact cardiovascular care [57][59] Other Important Information - The company plans to continue leveraging AI across various stages of the value chain to enhance productivity [12] - Capital expenditures for 2025 are expected to be approximately $2.2-$2.3 billion, focusing on expanding network capacity [13] Q&A Session Summary Question: Confidence in Olpasiran and Business Development Approach - Management remains confident in Olpasiran's potential, emphasizing its best-in-class properties and the importance of the Ocean A study [42][43] - The return to pre-Horizon debt levels does not significantly alter the company's approach to business development, which remains focused on earlier-stage opportunities [44] Question: 2026 Guidance and R&D Expenses - Management discussed key growth drivers and the focus on maintaining industry-leading margins while investing in R&D [46][49] - R&D expenses are expected to stabilize after a significant increase, with ongoing investments in late-stage programs [50][51] Question: Vesalius CV Results Impact - The Vesalius CV study is anticipated to enhance Repatha's market opportunity, with management highlighting its significance in preventing first cardiovascular events [54][57] - The study's results will be shared at the upcoming AHA meeting, emphasizing the need for improved cardiovascular care [59][60] Question: New Biosimilar Guidance Impact - The company does not foresee a change in its strategic focus on biosimilars, viewing the market as performing well despite new guidance [63][66] - Management remains committed to competing effectively in the biosimilar space, regardless of regulatory changes [64][65]

The biotechnology company reported a profit of $3.22 billion thanks to a 12% rise in product sales. ...

Q3 2025 Financial Performance - Revenues increased by 12% year-over-year, reaching $9557 million in Q3 2025, compared to $8503 million in Q3 2024[12] - Product sales also increased by 12% year-over-year, totaling $9137 million in Q3 2025, up from $8151 million in Q3 2024[12] - The company invested $1900 million in Research and Development (R&D) in Q3 2025, which is a 31% increase compared to $1440 million in Q3 2024[12] - Non-GAAP EPS increased by 1% to $564 in Q3 2025 from $558 in Q3 2024[12] - Free cash flow increased to $42 billion in Q3 2025, compared to $33 billion in Q3 2024[14] Product Performance - Repatha sales increased by 40% year-over-year to $794 million in Q3 2025[20] - EVENITY sales increased by 36% year-over-year to $541 million in Q3 2025[20] - TEZSPIRE sales increased by 40% year-over-year to $377 million in Q3 2025[20] - UPLIZNA sales increased by 46% year-over-year to $155 million in Q3 2025[20] 2025 Guidance - The company revised its revenue guidance for 2025 to $358 billion - $366 billion, up from the previous guidance of $350 billion - $360 billion[16]

Exhibit 99.1 Product Sales Performance General Medicine News Release One Amgen Center Drive Thousand Oaks, CA 91320-1799 Telephone 805-447-1000 www.amgen.com AMGEN REPORTS THIRD QUARTER 2025 FINANCIAL RESULTS THOUSAND OAKS, Calif. (Nov. 4, 2025) - Amgen (NASDAQ:AMGN) today announced financial results for the third quarter of 2025. "We delivered strong volume growth this quarter, reflecting the demand for our medicines and the impact we're having on patients worldwide. With disciplined investment and a pipel ...

Amgen on Tuesday reported quarterly financial results that beat Wall Street expectations as product sales rose 12%, offsetting higher operating expenses related to experimental weight-loss drug MariTi... ...

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Core Insights - Amgen reported strong financial results for Q3 2025, with total revenues increasing by 12% to $9.6 billion compared to Q3 2024, driven by a 14% volume growth in product sales, despite a 4% decrease in net selling prices [6][16][17] Financial Performance - Total revenues for Q3 2025 reached $9.6 billion, a 12% increase from Q3 2024 [6] - Product sales grew by 12%, with 14% volume growth offset by a 4% decline in net selling prices [6] - GAAP EPS rose 14% from $5.22 to $5.93, while non-GAAP EPS increased by 1% from $5.58 to $5.64 [6][11] - Free cash flow for Q3 2025 was $4.2 billion, up from $3.3 billion in Q3 2024 [13][16] Product Sales Highlights - Sixteen products achieved double-digit sales growth, including Repatha (40% increase), EVENITY (36% increase), and TEZSPIRE (40% increase) [6][8] - Enbrel sales decreased by 30% year-over-year, primarily due to a 38% drop in net selling price [6][8] - Ultra-Rare products generated $200 million in sales, a 6% increase year-over-year [8] Operating Expenses and Margins - Total operating expenses increased by 9% year-over-year, with R&D expenses rising by 31% due to higher spending on late-stage clinical programs [11][12] - GAAP operating income increased from $2.0 billion to $2.5 billion, with an operating margin of 27.6%, up 2.5 percentage points [11][12] - Non-GAAP operating margin decreased by 2.5 percentage points to 47.1% [11][12] Cash Flow and Balance Sheet - Operating cash flow for Q3 2025 was $4.7 billion, compared to $3.6 billion in Q3 2024 [13] - Cash and cash equivalents totaled $9.4 billion, while debt outstanding was $54.6 billion as of September 30, 2025 [13][16] Guidance for 2025 - The company expects total revenues for 2025 to be in the range of $35.8 billion to $36.6 billion, with GAAP EPS projected between $13.76 and $14.60 [17]