Amgen reported FY2025 revenue of $36.75 billion and Q1 2026 revenue of $8.62 billion, with the official record tying the thesis to biologics scale, acquired-product integration, patent cliffs, pipeline execution, leverage and cash conversion.
Amgen: the post-Horizon biotech has to turn scale into deleveraging and pipeline proof
NASDAQAMGNCoverage BootstrapAmgen Inc.
Thesis summary
Amgen reported FY2025 revenue of $36.75 billion and Q1 2026 revenue of $8.62 billion, with the official record tying the thesis to biologics scale, acquired-product integration, patent cliffs, pipeline execution, leverage and cash conversion.
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