Amgen’s third-quarter sales advanced across much of its portfolio, but steep declines in two products and lower free cash flow tempered an 8% increase in revenue.
The company reported revenue of $10.365 billion for the quarter ended Sept. 30, up from a year earlier. Amgen filed its earnings release with the U.S. Securities and Exchange Commission on Nov. 3 as part of a Form 8-K. The SEC index lists the filing under Item 2.02, covering results of operations and financial condition, and Item 9.01, covering financial statements and exhibits. The submission is listed under accession number 0000318154-26-000153 and contains 13 documents, including the 8-K and earnings release.
GAAP diluted earnings per share were $7.08, compared with $5.93 in the year-earlier quarter. Amgen said at least 17 products recorded double-digit growth, while higher volumes supported an 8% increase in product sales. The 19% increase in diluted earnings per share outpaced the growth rates for both revenue and product sales.
Prolia sales fell 45% to $632 million, while XGEVA sales declined 47% to $288 million. The company said biosimilar competition across markets weighed on sales of both drugs. In contrast, Repatha sales rose 37% to $1.085 billion, and IMDELLTRA sales more than doubled to $406 million.
Enbrel sales increased 5% to $611 million, although its net selling price decreased 14%. Amgen linked the lower price to Medicare Part D price setting under the Inflation Reduction Act, effective in 2026.
Free cash flow totaled $3.7 billion, down from $4.2 billion in Q3 2025. Amgen said the prior-year quarter benefited from rebate and collection timing, while working-capital changes affected the latest period.
For full-year 2026, Amgen forecast revenue of $38.9 billion to $39.7 billion and GAAP earnings per share of $18.34 to $19.28.
