Amgen (AMGN) Bank of America Global Healthcare Conference 2026 summary

Financial performance and growth outlook

• Achieved 6% revenue growth, 4% product sales growth, and 5% non-GAAP EPS growth year-over-year in Q1, with 16 products delivering double-digit sales growth.

• Six key growth drivers, including Repatha, Evenity, Tezspire, oncology, rare disease, and biosimilars, accounted for nearly 70% of product sales and grew at a 24% aggregate rate.

• Rare disease and innovative oncology portfolios each grew 25% year-over-year, with biosimilars generating over $14 billion in cumulative sales since 2018.

• 2026 is positioned as a springboard year, expecting new products to offset patent expirations and increased competition.

• Continued financial discipline while investing for long-term growth and manufacturing expansion.

Product and pipeline highlights

• Repatha sales increased 34% year-over-year, driven by strong volume growth and expanded access, with new-to-brand prescriptions up 45%.

• UPLIZNA is experiencing strong uptake in both biologically experienced and naive patients, with a 50/50 split, and is being expanded into new indications such as autoimmune hepatitis and CIDP.

• MariTide, a differentiated obesity and diabetes treatment, is advancing through phase III with potential for less frequent dosing (every 8–12 weeks) and strong tolerability.

• Maintenance studies for MariTide will last about a year, with over 90% patient participation in extensions and rapid enrollment.

• Olpasiran, an Lp(a)-lowering agent, is in phase III with higher potency than competitors and a large potential market, especially if primary prevention is proven.

Strategic and operational updates

• Significant investment in Puerto Rico manufacturing, with an additional $300 million announced, reinforcing its role in the U.S. network.

• Ongoing IRS tax disputes regarding Puerto Rico operations, with no changes in position and a decision expected no earlier than the second half of 2026.

• Commercial teams are dynamically reallocating resources to support growth drivers and new launches.

• Cardiometabolic presence is being strengthened, leveraging existing infrastructure for new products like olpasiran and MariTide.

• High overlap expected between prescribers of Repatha and future Lp(a) therapies, with guidelines now recommending Lp(a) measurement.