Amgen: $10.4 Billion Q3 Revenue Reflects 8% Growth As Repatha, UPLIZNA And IMDELLTRA Sales Accelerate

Amgen announced a study showing evolocumab (Repatha) reduced heart attack risk by 20% compared to ezetimibe in patients with atherosclerotic cardiovascular disease. The real-world study followed 544,103 adults for up to 4 years, published in the American Journal of Preventive Cardiology. According to Amgen, the findings can help clinicians choose between these treatments.

Freedom Broker downgraded Amgen (AMGN) to Hold from Buy, raising its price target to $470. The move follows strong quarterly results, with revenue and EPS beating expectations. Amgen raised its full-year guidance, and shares are up 44% year-to-date. Analysts cite strong performance but note the stock is near fair value. Other analysts, including UBS and RBC, raised their price targets.

The FDA approved a label update for Amgen's AMJEVITA (adalimumab-atto) on 11/05/2026, according to the company. The approval covers the 20 mg/0.4 mL and 40 mg/0.8 mL injectable products, but no new indication was disclosed. This is a routine regulatory update for an already approved product.

Amgen's Repatha (evolocumab) reduced heart attack risk by 20% compared to ezetimibe in a real-world study of 544,103 adults with atherosclerotic cardiovascular disease, according to the company. The four-year study tracked patients from 2017 to 2024, with Repatha showing a lower cumulative incidence of heart attacks (5.88% vs. 7.76%). Amgen's chief medical officer highlighted the study's relevance for treatment decisions.

Amgen (AMGN) reported Q3 earnings of $6.45 per share, beating estimates by 12%, with revenue of $10.4B, up 9% YoY. The company's stock has gained 72% since late 2024, driven by strong commercial performance and a robust pipeline. Analysts have mixed views on its valuation, with a forward P/E of 19.9x. Amgen has raised its dividend for 16 consecutive years, yielding 2.2%.

Amgen reported Q3 2026 revenue of $10.4 billion, an 8% increase. Seventeen medicines saw double-digit growth, and six key products grew 27% year-over-year, accounting for 70% of sales. The company also announced positive Phase 3 results for three treatments. Amgen highlighted its growth strategy and potential risks, including clinical, regulatory, and market factors.