Amgen

AMGen (Applied Molecular Genetics Inc.) was established in Thousand Oaks, California, on April 8, 1980.⁠[1]

Recruited by Bill Bowes, one of Amgen’s founders, scientist George Rathmann was Amgen’s founding CEO from 1980 to 1988 and board chairman until 1990.⁠[2]

In 1983 Amgen made its initial public offering.⁠[3]

Amgen was incorporated in California in 1980 and became a Delaware corporation in 1987.⁠[4]

In 1988 CFO Gordon Binder was promoted to CEO; after Binder retired in 2000, Kevin W. Sharer became Amgen’s third CEO.⁠[1]

In the years after he took the helm, George Rathmann helped steer the development of Epogen and Neupogen.⁠[5]

Amgen’s first medicine, an important therapy for patients with chronic kidney disease, was approved in 1989, followed in 1991 by a supportive care product in oncology.⁠[3]

On January 2, 1992, Amgen was added to the S&P 500S&P 500The S&P 500 is a U.S. large-cap equity index compiled by S&P Dow Jones Indices. It includes 500 leading companies, covers about 80% of available market capitalization and is described by S&P DJI as “widely regarded as the best single gauge of large-cap U.S. equities.”Open the full entry.⁠[1]

In 1993 Amgen opened a manufacturing facility in Puerto Rico, which remains its largest manufacturing site.⁠[3]

On July 16, 2002, Amgen completed its acquisition of Immunex Corporation, exchanging each Immunex share for a fixed ratio of 0.44 shares of Amgen common stock and $4.50 in cash. Former Immunex chief technology officer Doug Williams was to lead the Seattle research site, and former Immunex chairman and CEO Ed Fritzky joined Amgen’s board.⁠[6]

The acquisition marked Amgen’s entry into inflammatory diseases; its employee base was then around 10,000.⁠[3]

Robert A. Bradway has served as Amgen’s CEO since May 2012 and became chairman of the board effective January 1, 2013, as Kevin W. Sharer retired from the board effective December 31, 2012. Bradway joined Amgen in 2006, served as executive vice president and CFO from 2007 to 2010, and was previously a managing director at Morgan StanleyMorgan StanleyMorgan Stanley is an American global financial services firm that grew from an investment banking partnership into a publicly traded financial group spanning investment banking, securities trading, wealth management, and investment management.Open the full entry.⁠[7]

Amgen pleaded guilty in federal court in Brooklyn, New York, to introducing a misbranded drug, Aranesp, into interstate commerce and agreed to pay $762 million to resolve criminal and civil liability, including a $136 million criminal fine, $14 million in criminal forfeiture and a $612 million civil settlement.⁠[8]

On October 1, 2013, Amgen completed its tender offer for Onyx Pharmaceuticals at $125 per share in cash, a purchase price of $9.7 billion net of estimated Onyx cash, and expected to complete the acquisition through a merger later that day.⁠[9]

On November 21, 2019, Amgen completed its acquisition of worldwide rights to Otezla (apremilast) from Celgene Corporation for $13.4 billion in cash, in connection with Celgene’s merger with Bristol-Myers SquibbBristol Myers SquibbBristol Myers Squibb is a US multinational biopharmaceutical company researching, developing and supplying medicines. Its activities span oncology, hematology and neuroscience, with products and technology platforms developed through internal research, partnerships and acquisitions.Open the full entry. Otezla is an oral, non-biologic treatment for moderate-to-severe plaque psoriasis and psoriatic arthritis.⁠[10]

On August 24, 2020, S&P Dow Jones IndicesS&P Dow Jones IndicesS&P Dow Jones Indices (S&P DJI) is a global index provider that compiles and licenses benchmark indices including the S&P 500 and the Dow Jones Industrial Average. It was formed in 2012 by combining McGraw-Hill’s S&P index business with the Dow Jones Indexes business held by a joint venture of CME Group and Dow Jones, and it is now the index business division of S&P Global, which holds about 73% of the interest.Open the full entry announced that Amgen would replace Pfizer in the Dow Jones Industrial Average prior to the opening of trading on August 31. The changes were prompted by AppleAppleApple is a public technology company founded in 1976 and headquartered in Cupertino, California, United States. Its business includes the iPhone, Mac, iPad, wearables, and services such as digital content, payments, and cloud storage. The company builds its product system through in-house hardware, operating systems, and services.Open the full entry’s 4-for-1 stock split.⁠[11]

In its Revenue Agent Report for the 2010–2012 tax years, the IRS proposed significant adjustments that primarily relate to the allocation of profits between certain Amgen entities. Amgen disagreed and in 2021 filed a petition in the U.S. Tax Court to contest two duplicate Statutory Notices of Deficiency.⁠[12]

Amgen’s fiscal 2025 Form 10-K still describes the dispute as ongoing.⁠[13]

On May 16, 2023, the U.S. Federal Trade Commission voted 3-0 to sue to stop Amgen’s $27.8 billion acquisition of Horizon Therapeutics, arguing that Amgen could pressure insurers and pharmacy benefit managers into favorable terms for Horizon’s Tepezza and Krystexxa. Amgen said it was disappointed.⁠[14]

In September 2023 the FTC cleared the deal under a consent order that prohibits Amgen from bundling any of its products with Tepezza or Krystexxa. Because Horizon is based in Ireland, Dublin’s High Court was the final hurdle; Amgen completed the acquisition on October 6, 2023.⁠[15]

The U.S. Supreme Court unanimously held that Amgen’s relevant patent claims were invalid for failing the enablement requirement, affirming the decisions below. The claims covered all antibodies that bind to specific amino acids on PCSK9 and block it; Amgen identified 26 antibodies but claimed potentially millions more.⁠[16]

Amgen discovers, develops, manufactures and delivers innovative medicines and operates in one operating segment, human therapeutics. Its common stock trades under the symbol AMGN on The Nasdaq Global Select Market.⁠[4]

As of December 31, 2025, Amgen had approximately 31,500 staff members in over 50 countries.⁠[13]

Total revenues for 2025 increased 10% to $36,751 million (2024: $33,424 million), net income was $7,711 million (2024: $4,090 million), and GAAP EPS rose from $7.56 to $14.23. Full-year sales of Repatha increased 36% to $3,016 million, EVENITY rose 34% to $2,100 million and TEZSPIRE rose 52% to $1,478 million.⁠[17]

Total revenues for the second quarter of 2026 rose 10% year over year to $10,054 million, with product sales of $9,537 million, GAAP net income of $2,375 million (Q2 2025: $1,432 million) and GAAP diluted EPS of $4.37. Repatha sales rose 37% to $953 million and EVENITY 38% to $714 million, while MariTide (maridebart cafraglutide) remained in Phase 3 development.⁠[18]