AMGEN INC (AMGN)

Amgen Inc. discovers, develops, manufactures and delivers innovative human therapeutics aimed at serious diseases, with a focus on areas of high unmet medical need. It helped launch the biotechnology industry more than 45 years ago and describes itself as one of the world's leading independent biotechnology companies. It was incorporated in California in 1980, reincorporated in Delaware in 1987, has a presence in approximately 100 countries, and reports one operating segment: human therapeutics.

Its marketed portfolio includes Prolia, XGEVA and EVENITY (bone health), Repatha (cardiovascular), Otezla and ENBREL (inflammation), TEPEZZA (thyroid eye disease), KRYSTEXXA (chronic refractory gout), BLINCYTO, KYPROLIS, Vectibix, Nplate and Aranesp (oncology, hematology and nephrology), and TEZSPIRE (asthma and chronic rhinosinusitis with nasal polyps, marketed with a collaboration partner). Other products include MVASI, PAVBLU, UPLIZNA, IMDELLTRA/IMDYLLTRA, AMJEVITA/AMGEVITA, TAVNEOS, Neulasta, LUMAKRAS/LUMYKRAS, RAVICTI, Parsabiv, Aimovig, WEZLANA/WEZENLA and PROCYSBI. Its pipeline includes potential first-in-class medicines at all stages of development. Maridebart cafraglutide (MariTide), an antibody-peptide conjugate for chronic weight management, is in several global Phase 3 studies. Recent developments include an expanded FDA label for Repatha, new FDA approvals for UPLIZNA, IMDELLTRA (full approval) and TEZSPIRE, and European approval of TEPEZZA. Amgen decided not to pursue approval of bemarituzumab in first-line gastric cancer and agreed to transfer the rocatinlimab program to Kyowa Kirin. In January 2026 the FDA asked for the voluntary withdrawal of TAVNEOS from the U.S. market; Amgen informed the FDA it did not intend to withdraw it and is evaluating next steps.

Product sales were $35.1 billion in 2025, of which 73% came from the United States and 27% from the rest of the world. Customers include healthcare providers such as physicians and their clinics, dialysis centers, hospitals and pharmacies. In the United States, substantially all sales go to pharmaceutical wholesale distributors. McKesson, Cencora and Cardinal Health each accounted for more than 10% of total revenues in 2023 through 2025, and together for 77% of worldwide gross revenues in 2025. Outside the United States, Amgen sells mainly to healthcare providers and/or wholesalers depending on local practice. Some products are also promoted through direct-to-patient channels.

Amgen's largest sales and marketing forces are in the United States and Europe. It also reaches Japan, China, other parts of Asia, Latin America and the Middle East through its own affiliates, acquired businesses or product rights, or collaborations. In Asia Pacific it partners with companies including Astellas, BeOne, Mitsubishi Tanabe, Takeda and Kyowa Kirin. Otezla was acquired from Bristol Myers Squibb in 2019, and TEPEZZA and KRYSTEXXA came with the October 2023 Horizon acquisition. The company relies on patent protection for its key products, and the RANKL antibody patents for Prolia and XGEVA expired in 2025 in the U.S. and select European countries.