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AMGNBullishEarningsnews
High materiality9/10

Amgen delivers solid Q3 growth; Repatha and MariTide progress bolster pipeline

Nov 3, 2026, 4:22 PM EST1 sourcesAI-analyzed
Why it may matterVerify against the original reporting

Strong Q3 results, meaningful EPS uplift, and intact 2026 guidance typically drive modest near-term upside; dividend increase signals capital returns. Biosimilar pressure on Prolia is a risk, but pipeline momentum (MariTide, Repatha) provides offsetting catalysts.

AI summary

What happened, with direct paths to the underlying reporting

Amgen reported Q3 2026 results with revenue of $10.4B, an 8% YoY rise, and GAAP EPS of $7.08. Growth was led by Repatha and Evenity, while Prolia faced biosimilar pressure. Pipeline updates on MariTide and strong Repatha CV signals offer near-term catalysts, and the 2026 guidance remains intact, signaling durable cash flow and long-term value creation.

  • Amgen Q3'26 revenue $10.4B, up 8% YoY; GAAP EPS $7.08, non-GAAP $6.45.
  • Repatha and Evenity drive growth; Prolia biosimilars weigh on sales.
  • Free cash flow $3.7B; dividend up 6%; no share repurchases in Q3.
  • 2026 guidance: revenue $38.9–$39.7B; non-GAAP EPS $22.90–$23.70; capex ~$2.6B; buybacks up to $3B.
  • MariTide Phase 3 progress; Repatha CV mortality signals; OCEAN(a) trials ongoing.

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