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Amgen Citi Annual Global Healthcare Conference 2025 summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Citi Annual Global Healthcare Conference 2025 summary3 Dec, 2025
Business performance and growth strategy
Achieved 10% revenue growth and 14% volume growth through the first nine months, with a volume-driven strategy since 2019.
Strong momentum in four core therapeutic areas, with a robust long-term growth outlook.
Significant investment in innovation, with non-GAAP R&D up 31% year over year in Q3 and a mid-20% R&D spend guidance for the year.
$200 million in business development in Q3, with ongoing focus on both internal and external innovation.
Strong debt paydown following the Horizon acquisition and continued capital allocation to manufacturing expansion.
Key growth drivers and portfolio highlights
Six major growth drivers: Repatha, Evenity, Tezspire, rare disease, innovative oncology, and biosimilars.
Repatha and Evenity each grew 30% year over year; Tezspire grew 50% and reached $1B in US sales.
Rare disease portfolio annualizing at $5B, led by Uplizna's 50% growth and upcoming PDUFA for myasthenia gravis.
Innovative oncology up 11%, with Imdeltra now standard of care in second-line small-cell lung cancer.
Biosimilar portfolio grew 40% year over year, now annualizing at $3B.
Pipeline and R&D updates
Repatha's VESALIUS-CV study showed 25% reduction in cardiovascular events and 36% reduction in heart attacks.
Maritide advancing in six phase 3 studies for obesity, diabetes, and related comorbidities; maintenance data update expected in the new year.
Olpaceran in phase 3, targeting Lp(a) with 95-100% knockdown and quarterly dosing.
Imdeltra phase 3 studies ongoing in small-cell lung cancer, with phase 1b data showing doubled survival rates.
Xyritamig in phase 3 for prostate cancer, with additional studies in earlier disease stages.
MariTide Phase II Part 2 data timing change
Future rare disease BD strategy and capacity
Amgen Now as a blueprint for future products
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Q4 20253 Feb, 2026
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Frequently asked questions
American Biotechnology
Amgen is a biotechnology company from California with operations worldwide. Over the years, it has evolved from a fledgling start-up into a pharmaceutical titan, making a name for itself through its research and innovative drug development. Unlike traditional pharmaceutical companies, Amgen uses living cells to produce its products, a challenging approach that can yield groundbreaking results.
Born from Innovation
Amgen, founded in 1980 by William K. Bowes, Jr., George Rathmann, and Joseph Rubinfeld, set out to unlock the potential of biology for patients. The company's original focus was on tools for molecular biology, but it quickly shifted to human therapeutics. One of the company’s flagship treatments is Epogen, which revolutionized the treatment of anemia in patients with chronic kidney disease. Over the years, Amgen has expanded its portfolio of medications to tackle a variety of serious illnesses through a focus on research and development.
Some publicly traded peers operating in the same field include names such as Pfizer, Eli Lilly, Johnson & Johnson, and other large pharmaceutical companies.
A Therapeutic Pioneer
Amgen's extensive product portfolio caters to several therapeutic areas, from cardiovascular disease to oncology, nephrology, and more. Through a combination of biological and small molecule drugs, Amgen targets conditions where there is a high unmet medical need. Today, the company continues to place a big emphasis on research in medicine, striving for innovative solutions that improve the lives of its patients. The fact that Amgen uses living cells in some of their treatments has been a key part of their growth, but also their marketing over the years.
Serving Patients Worldwide
Amgen has expanded its footprint globally, bringing its products and therapies to patients around the world. The company's broad international presence in over 100 countries is supported by strategic partnerships, robust distribution networks, and a commitment to patient care.
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