AMGN Amgen

Q3 2025 10-Q

Filed: Nov 5, 2025Period ending Sep 30, 2025

Health Care

Biological Products, (No Diagnostic Substances)SEC EDGAR

Amgen (AMGN) 10-Q quarterly report for Q3 2025, filed with SEC EDGAR on Nov 5, 2025 for the fiscal period ending Sep 30, 2025. This page provides AI-powered analysis including management discussion & analysis (MD&A), risk factor updates, and key quarterly financial data such as revenue and net income extracted from XBRL.

AI Filing Analysis
Q3 2025 10-Q

Management Discussion & Analysis

• Revenue $9.56B for Q3 2025, up 12% YoY from $8.15B; driven by volume growth (+14%), offset by net selling price declines (-4%)
• Operating margin 26.4% (Operating income $2.53B from $2.05B), net income margin 33.6% (Net income $3.22B from $2.83B) for Q3 2025

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Risk Factors

• New risk: July 31, 2025 MFN Executive Order and July MFN Letter impose potential US drug price mandates affecting Medicaid, Medicare, and commercial payers
• Updated regulatory risk: IRA Medicare price setting extended to approx. 100 drugs by 2031, with ENBREL and Otezla prices lowered for 2026 and 2027 respectively

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Quarterly Financial Summary
XBRL

Revenue

$9.6B

Net Income

$3.2B

Operating Margin

26.4%

Net Margin

33.7%

ROE

33.4%

Total Assets

$90.1B

Source: XBRL data from Amgen Q3 2025 10-Q filing on SEC EDGAR. All figures in USD.

Other Amgen Quarterly Reports

Q2 2025 10-Q

Q1 2025 10-Q

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