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Amgen (AMGN) investor relations material

Amgen 44th Annual J.P. Morgan Healthcare Conference summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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44th Annual J.P. Morgan Healthcare Conference summary12 Jan, 2026

2025 performance and achievements

  • Achieved 10% revenue growth and 14% EPS growth, with 14 blockbuster products annualizing at over $1B in sales and five FDA approvals in 2025.

  • Biosimilars franchise grew 42% year-over-year, contributing $13 billion in revenue since 2018.

  • Paid down over $6 billion in debt, strengthening the balance sheet.

  • Initiated six phase III programs for MariTide and demonstrated REPATHA’s benefit in primary prevention with VESALIUS data showing a 36% reduction in heart attack risk.

  • 2025 non-GAAP EPS guidance: $20.60–$21.40; GAAP EPS guidance: $13.76–$14.60.

2026 outlook and growth drivers

  • Focused on six growth drivers: cardiovascular, bone health, respiratory, rare disease, innovative oncology, and biosimilars.

  • REPATHA annualized at $3 billion, growing 33% with significant opportunity due to low patient penetration.

  • EVENITY and TEZSPIRE showed over 30% growth, with both products addressing large, under-penetrated patient populations.

  • Rare disease portfolio annualizing at ~$5 billion, with UPLIZNA expanding into new indications and geographies.

  • Innovative oncology driven by BITE platform, with BLINCYTO and IMDELLTRA showing strong sales and clinical impact.

Pipeline and innovation

  • Deep phase III pipeline includes olpasiran for Lp(a) reduction, MariTide for obesity and type 2 diabetes, and multiple oncology assets.

  • MariTide advancing rapidly with six global Phase 3 studies; strong efficacy and tolerability in Type 2 diabetes and weight management.

  • Phase 2 studies confirm MariTide’s potential as the first monthly therapy for Type 2 diabetes and for long-term weight maintenance.

  • Oncology pipeline features IMDELLTRA for small cell lung cancer and Xaluridomig for prostate cancer, both in advanced clinical stages.

  • Ongoing investment in external innovation and new partnerships to expand the pipeline.

MariTide's long-term maintenance therapy potential
What drives biosimilars' 42% sales growth?
BITE platform's clinical impact and future?
MariTide's long-term adherence strategy
UPLIZNA's new indication market penetration
Lp(a) market development for Olpasiran
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Frequently asked questions

American Biotechnology

Amgen is a biotechnology company from California with operations worldwide. Over the years, it has evolved from a fledgling start-up into a pharmaceutical titan, making a name for itself through its research and innovative drug development. Unlike traditional pharmaceutical companies, Amgen uses living cells to produce its products, a challenging approach that can yield groundbreaking results.

Born from Innovation

Amgen, founded in 1980 by William K. Bowes, Jr., George Rathmann, and Joseph Rubinfeld, set out to unlock the potential of biology for patients. The company's original focus was on tools for molecular biology, but it quickly shifted to human therapeutics. One of the company’s flagship treatments is Epogen, which revolutionized the treatment of anemia in patients with chronic kidney disease. Over the years, Amgen has expanded its portfolio of medications to tackle a variety of serious illnesses through a focus on research and development.

Some publicly traded peers operating in the same field include names such as Pfizer, Eli Lilly, Johnson & Johnson, and other large pharmaceutical companies.

A Therapeutic Pioneer

Amgen's extensive product portfolio caters to several therapeutic areas, from cardiovascular disease to oncology, nephrology, and more. Through a combination of biological and small molecule drugs, Amgen targets conditions where there is a high unmet medical need. Today, the company continues to place a big emphasis on research in medicine, striving for innovative solutions that improve the lives of its patients. The fact that Amgen uses living cells in some of their treatments has been a key part of their growth, but also their marketing over the years.

Serving Patients Worldwide

Amgen has expanded its footprint globally, bringing its products and therapies to patients around the world. The company's broad international presence in over 100 countries is supported by strategic partnerships, robust distribution networks, and a commitment to patient care.

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