Amgen

Q2 FY2026 EarningsQ2 FY26 results beat consensus on revenue ($10.05B vs. $9.42B) and GAAP diluted EPS ($4.37 vs. $3.73). Top-line outperformance was driven by robust volume growth in Repatha (+37% YoY), EVENITY (+38% YoY), and UPLIZNA (+90% YoY), offsetting the rapid erosion of Prolia (-32% YoY) following biosimilar entries. While GAAP operating income missed the mean estimate due to elevated amortization and R&D spend on MariTide, net income benefited from a lower-than-expected effective tax rate (14.2% vs. 15.95% expected).