By Fineline Cube 
US‑based biotech giant Amgen (NASDAQ: AMGN) posted its third‑quarter 2025 results, showing total sales of $9.6 billion, up 12% year‑on‑year on a constant‑currency basis. Sixteen products delivered double‑digit growth, prompting the company to lift its full‑year outlook.
Revised 2025 Outlook
| Metric | New Guidance (2025) | Prior Guidance (2025) |
|---|---|---|
| Sales Revenue | $35.8 bn – $36.6 bn | $35.0 bn – $36.0 bn |
| Non‑GAAP EPS | $20.60 – $21.40 | $20.20 – $21.30 |
| Operating Margin | 31.2% (expected) | 30.8% (expected) |
The upward revision reflects robust performance across Amgen’s cardiovascular, bone‑health, oncology and rare‑disease franchises.
Q3 2025 Portfolio Drivers (Key Products)
| Product (Indication) | Q3 2025 Sales (USD mn) | YoY Growth |
|---|---|---|
| Repatha (evolocumab – high cholesterol) | $794 | +40% |
| Evenity (romosozumab – osteoporosis) | $541 | +36% |
| Imdelltra / Imdylltra (tarlatamab – DLL3 bispecific) | $178 | +33% |
| Tezspire (tezepelumab – asthma/airway inflammation) | $377 | +40% |
| Tepezza (teprotumumab – thyroid eye disease) | $560 | +15% |
| Blincyto (blinatumomab – CD19‑targeted bispecific) | $392 | +20% |
| Uplizna (inebilizumab – autoimmune disease) | $155 | +46% |
| Tavneos (avacopan – rare disease) | $107 | +34% |
All figures are presented in constant‑currency terms.
Strategic Takeaways
- Cardiovascular & Bone‑Health Powerhouse – Repatha and Evenity together contributed $1.34 bn of Q3 sales, underscoring Amgen’s dominance in high‑margin specialty markets.
- Bispecific Antibody Momentum – Imdelltra/Imdylltra and Blincyto delivered double‑digit growth, signaling successful commercialization of Amgen’s next‑generation antibody platform.
- Rare‑Disease Expansion – Tepezza, Uplizna and Tavneos each posted >15% growth, reinforcing Amgen’s strategy to capture high‑value orphan‑drug niches.
- Guidance Upgrade – The revised sales range adds $0.8 bn of upside, while the EPS stretch reflects improved cost efficiencies and a favorable product mix.
Outlook for 2026
- Pipeline Progress – Late‑stage trials for next‑generation PCSK9 inhibitors and novel bispecifics are slated for data readouts in H2 2026, potentially adding new growth engines.
- Geographic Expansion – Amgen is accelerating market entry in emerging Asian markets, targeting a 5‑7% incremental contribution to total sales by 2027.
Forward‑Looking Statements
This release contains forward‑looking statements regarding Amgen’s 2025 performance, guidance and product outlook. Actual results may differ due to regulatory, market and other risks described in the company’s filings.-Fineline Info & Tech