Amgen beats estimates but shares dip on biosimilar concerns

What happened: Amgen reported third quarter results that exceeded Wall Street expectations, but shares fell 1.5% in after-hours trading as investors weighed biosimilar competition on key products. Key numbers: Adjusted EPS $6.45 vs $5.76 consensus. Revenue up 8% YoY to $10.4 billion vs $10.06 billion estimate. Why it matters: Concerns about biosimilar competition for products like Prolia and XGEVA overshadowed the results, even as CEO Robert A. Bradway cited results across the enterprise and 2026 guidance midpoints topped analyst estimates.

Amgen reported third quarter results that exceeded Wall Street expectations, but shares fell 1.5% in after-hours trading as investors weighed biosimilar competition on key products.

Concerns about biosimilar competition for products like Prolia and XGEVA overshadowed the results, even as CEO Robert A. Bradway cited results across the enterprise and 2026 guidance midpoints topped analyst estimates.