Biotech giant Amgen exceeded Q4 expectations, reporting a 9% revenue growth to $9.9 billion, surpassing the $9.46 billion consensus. The company also issued robust 2026 guidance, projecting revenues between $37 billion and $38.4 billion. Adjusted earnings per share were $5.29, significantly above the $4.73 forecast, boosting investor confidence after hours.

Strong product sales, up 7% year-over-year, drove the positive results. Key performers included Repatha, which saw a 44% jump in sales, and EVENITY, up 39%. TEZSPIRE and IMDELLTRA also contributed, with sales surging 60% and $234 million, respectively, in the quarter. Amgen's strong performance reflects its diverse product portfolio.

For the full year 2025, total revenues increased 10% to $36.8 billion, with eighteen products achieving record sales. The company's focus on innovative therapies is delivering sustained long-term growth. The biotech industry is competitive, and Amgen's strong guidance suggests confidence in its pipeline.

Looking ahead, the projected 2026 revenue and adjusted EPS guidance, if met, will reassure investors. Amgen's free cash flow for 2025 was $8.1 billion, down from $10.4 billion in 2024, influenced by working capital and capital expenditures. Investors will watch the company's progress on its pipeline.