Strong Results and Pipeline Momentum Power Amgen's (AMGN) 2025 Rally

Amgen Inc. (NASDAQ:AMGN) is included among the 14 Best Pharma Dividend Stocks to Buy in 2026.

Amgen Inc. (NASDAQ:AMGN) has outperformed the broader market this year, supported by strong financial results and steady clinical progress, even as investors keep an eye on upcoming patent expirations. The stock is up more than 27% since the start of 2025.

In the third quarter, revenue rose 12% from a year earlier to $9.6 billion. Several of the company’s key growth drivers delivered solid numbers. Repatha, a treatment for high cholesterol, generated $794 million in sales during the period, a 40% increase from the prior year. Tezspire, Amgen’s asthma therapy, posted revenue of $377 million, also up 40% year over year.

Growth may slow over the next few quarters as biosimilar competition for denosumab, a bone-health drug sold under the Prolia and Xgeva brands, begins to gain traction. That pressure is real, and it is already on investors’ radar. Amgen Inc. (NASDAQ:AMGN) still has multiple ways to offset that impact. Several existing products continue to offer years of sales growth, and the pipeline remains active. One of the more closely watched programs is MariTide, a long-acting investigational treatment for weight management. The company has moved MariTide into phase 3 studies across obesity, type 2 diabetes, and other conditions.

Steady financial performance and an ability to refresh its pipeline support Amgen’s dividend outlook. The company has raised its dividend every year since initiating the program in 2011. The stock now offers a forward yield of about 3%, compared with the S&P 500 average of roughly 1.2%. With a cash payout ratio near 46%, there is still room for further increases.

Amgen Inc. (NASDAQ:AMGN) is a leading global biotechnology company that discovers, develops, manufactures, and delivers innovative medicines for serious illnesses.

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Disclosure: None.