Second-quarter revenue topped $10 billion for the first time as key growth drugs drove earnings higher, while Amgen narrowed its obesity pipeline to lead candidate MariTide.
Amgen raised its full-year 2026 financial forecast after reporting stronger-than-expected second-quarter results and said it will discontinue AMG 513, an obesity drug candidate in Phase 1, while continuing the existing trial through completion. Second-quarter net income rose to $2.38 billion, or $4.37 per diluted share, from $1.43 billion, or $2.65 per share, a year earlier, while adjusted earnings of $6.29 per share beat the $5.62 analyst consensus cited by The Wall Street Journal. Revenue increased 10% to $10.05 billion, topping the $9.43 billion forecast and marking the first time quarterly sales exceeded $10 billion. Product sales climbed 9% to $9.54 billion, led by growth in Repatha, Evenity, Uplizna and Imdelltra, offsetting weakness in Prolia and Xgeva from biosimilar competition. Amgen now expects 2026 revenue of $38.2 billion to $39.4 billion and adjusted earnings per share of $22.30 to $23.50. The decision to end AMG 513 leaves MariTide as Amgen's only obesity asset, with Phase 3 studies underway across weight management, Type 2 diabetes and cardiovascular outcomes.