Amgen: results, guidance and MariTide trials
What Amgen has reported about its sales and outlook, and where its obesity medicine maridebart cafraglutide (MariTide) stands in phase 3. Every figure is dated and linked to where it came from.
Last checked . Figures are company-reported unless a line says otherwise. This is not investment advice. For the medicine see the MariTide page and the pipeline.
The 3 counts MARITIME-CV and the two sleep apnea studies, which Amgen's release lists as having completed enrollment. Source for the other figures: Amgen's third-quarter 2026 release.
Third quarter 2026, reported November 3
Amgen reported revenue of $10,365 million, up 8% from $9,557 million a year earlier. Non-GAAP earnings were $6.45 per share, up 14% from $5.64. On a GAAP basis, earnings were $7.08 per share, up 19% from $5.93. Free cash flow was $3.7 billion, against $4.2 billion a year earlier.
| Measure | Third quarter 2026 | Third quarter 2025 |
|---|---|---|
| Total revenue | $10,365 million | $9,557 million |
| Non-GAAP earnings per share | $6.45 | $5.64 |
| GAAP earnings per share (diluted) | $7.08 | $5.93 |
| GAAP net income | $3,864 million | $3,216 million |
Among products, Amgen's release shows growth in Repatha, Evenity and Tezspire and steep declines in Prolia and Xgeva, which it ties to biosimilar launches around the world.
| Product | Third quarter 2026 sales | Change |
|---|---|---|
| Repatha | $1,085 million | up 37% |
| Evenity | $751 million | up 39% |
| Tezspire | $538 million | up 43% |
| Prolia | $632 million | down 45% |
| Xgeva | $288 million | down 47% |
Source: Amgen third-quarter 2026 financial results release, November 3, 2026.
How Amgen's 2026 guidance has moved
| Measure | August 4, 2026 (second-quarter release) | November 3, 2026 (third-quarter release) |
|---|---|---|
| Revenue | $38.2 billion to $39.4 billion | $38.9 billion to $39.7 billion |
| Non-GAAP earnings per share | $22.30 to $23.50 | $22.90 to $23.70 |
| GAAP earnings per share | $15.80 to $17.08 | $18.34 to $19.28 |
The third-quarter release shows only the current ranges and does not use the word raised. The comparison is the Atlas's, against the second-quarter release. Sources: third-quarter release and second-quarter release.
Where MariTide stands in phase 3
Amgen describes MariTide as an antibody-peptide conjugate that activates the GLP-1 receptor and blocks the GIP receptor. It says the long-acting design supports monthly starting doses and maintenance dosing as infrequently as four or six times a year. MariTide is investigational and not approved. The table follows the status wording in Amgen's third-quarter release.
| Study | What it covers | Status in the release |
|---|---|---|
| MARITIME-1 | Adults with obesity or overweight, without type 2 diabetes | Ongoing |
| MARITIME-2 | Adults with obesity or overweight and type 2 diabetes | Ongoing |
| MARITIME-CV | Listed in the release under this name | Completed enrollment |
| MARITIME-OSA-1 | Obstructive sleep apnea, people on positive airway pressure (PAP) therapy | Completed enrollment |
| MARITIME-OSA-2 | Obstructive sleep apnea, people not on PAP therapy | Completed enrollment |
| MARITIME-T2D-3 | Head-to-head against semaglutide in type 2 diabetes | Initiated and enrolling |
| Two more type 2 diabetes studies | Phase 3 studies in people with type 2 diabetes | To be initiated in the fourth quarter of 2026 |
| MARITIME-HF | Heart failure with preserved or mildly reduced ejection fraction, with obesity | Enrolling |
| MARITIME-SWITCH | Switching from weekly tirzepatide or semaglutide to MariTide every eight weeks or every quarter | Enrolling |
| Extension studies for MARITIME-1 and MARITIME-2 | Longer follow-up | Enrolling |
| Phase 2b liver fat and weight loss study | Liver fat and weight loss | Completed enrollment |
These are enrollment and start statuses, not results. Source: Amgen third-quarter 2026 release.
Coming up
- Fourth quarter 2026: Amgen says two more phase 3 studies of MariTide in type 2 diabetes will be initiated.
Amgen's release gives no date for its next quarterly results.
Questions about Amgen's results
Did Amgen raise its 2026 guidance?
The ranges moved up. Amgen now lists 2026 revenue of $38.9 billion to $39.7 billion, against $38.2 billion to $39.4 billion in its August 4 release, and non-GAAP earnings per share of $22.90 to $23.70, against $22.30 to $23.50.
Where is MariTide in development?
MariTide is in phase 3. Amgen's third-quarter release lists MARITIME-CV and two sleep apnea studies as having completed enrollment, MARITIME-1 and MARITIME-2 as ongoing, and several more studies as enrolling or about to start. See the MariTide page.
Why did Prolia and Xgeva sales fall?
Amgen's release shows Prolia down 45% to $632 million and Xgeva down 47% to $288 million in the third quarter, and ties both declines to biosimilar launches around the world.
Sources
- Amgen, Amgen reports third quarter 2026 financial results, November 3, 2026. Company-reported figures.
- Amgen, third-quarter 2026 earnings release, Exhibit 99.1 to Form 8-K, filed with the SEC. Company filing.
- Amgen, Amgen reports second quarter 2026 financial results, August 4, 2026. Company-reported, used for the earlier guidance.
- Atlas MariTide page, for the medicine and its trials.