Amgen Inc. (AMGN)

Amgen's stock reached a new 52-week high and all-time high on February 6, 2026, following strong fourth-quarter 2025 results. The company reported a 7% year-over-year increase in overall sales for Q4 2025, with product sales growing 10% for the full year 2025. Amgen also raised its quarterly dividend to $2.52. However, on January 16, 2026, the FDA requested that Amgen withdraw Tavneos from the market due to concerns about a process used by ChemoCentryx to re-adjudicate primary endpoint results for a subset of patients in a Phase 3 study, and Amgen is currently in dialogue with the FDA regarding this matter.

Amgen's product demand experiences seasonality, particularly in the first quarter of the year, due to the annual United States health insurance cycle. Factors contributing to lower sales in Q1 include benefit plan changes, insurance reverifications, and higher patient co-pay obligations. Products like Otezla and Enbrel are expected to follow their historical pattern of lower sales in the first quarter relative to subsequent quarters. Additionally, increased denosumab biosimilar competition is anticipated to impact Q1 sales.

Amgen Inc. is a multinational biopharmaceutical company focused on discovering, developing, manufacturing, and delivering innovative human therapeutics. The company operates in the healthcare sector, specifically in the biotechnology and drug manufacturing industry, with a single operating segment: human therapeutics. Amgen's product portfolio addresses therapeutic areas such as inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology, and neuroscience, with major products including Prolia, XGEVA, Enbrel, Repatha, Otezla, Tepezza, Evenity, Kyprolis, Nplate, Aranesp, Neulasta, Epogen, Tavneos, Blincyto, Tezspire, Imdeltra, and Eplisna.

Amgen has a global presence, operating in approximately 100 countries and regions worldwide. The United States remains its principal market, accounting for a significant portion of its product sales.

Amgen has a long-running reputation for the reliability of its supply chain and is recognized as a pioneer in biotechnology. The company emphasizes its commitment to the highest ethical standards and has received numerous awards and accolades. However, the FDA's request for Amgen to withdraw Tavneos from the market could potentially impact its brand reputation, and Amgen is currently refusing this request and is in ongoing discussions with the U.S. regulators.

Amgen Inc.'s ownership is predominantly held by institutional investors, who collectively hold a significant majority of the company's shares. Major institutional shareholders include The Vanguard Group, State Street Investment Management, BlackRock Institutional Trust Company, Capital International Investors and Capital World Investors. Individual insiders and employees hold a considerably smaller percentage of shares.