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StocksMediumUpdated×4•Originally published 30 April 2026•Updated 1 May 2026•

1 min read

Amgen Q1 Results Beat Estimates Despite Rising R&D Costs

Key Facts

1The biotechnology company reported a profit of $1.82 billion for the first quarter.

2Product sales rose by 4%, driving the overall financial results.

Amgen exceeded Q1 earnings and revenue estimates, reporting an adjusted EPS of $5.15 on revenue of $8.62 billion. Strong growth in Repatha and Evenity helped offset the impact of patent erosion and competition on Prolia, Xgeva, and Enbrel. While shares initially declined due to a 16% surge in R&D expenses, the company lifted its 2026 financial outlook citing its robust product portfolio. Amgen is now advancing its obesity candidate MariTide with several Phase 3 clinical studies underway to secure future growth. CEO Robert A. Bradway reiterated confidence in the company's long-term trajectory and its development pipeline. Investors are balancing the impact of rising costs against the newly upgraded long-term guidance and the potential of its metabolic research.

about 1 month ago

Version History

1 additional source confirmed this story

Version 4about 1 month ago

What changed: Updated to identify specific high-growth drugs (Repatha, Evenity) and those facing patent erosion (Xgeva), while confirming the Phase 3 status of the MariTide obesity pipeline.

Version 3about 1 month ago

What changed: The story was updated to include the company lifting its 2026 financial outlook based on the strong performance of its current product portfolio.

Version 2about 1 month ago

What changed: Updated the story to include the earnings beat, the share price decline due to rising R&D costs, and the impact of biosimilar competition on key drugs.

Version 1about 1 month ago

What changed: Updated the story to include details on double-digit growth across 16 brands and CEO commentary regarding Phase 3 clinical development pipeline.