Amgen Deployed a Record $7.2 Billion in R&D: Here’s What Investors Should Expect

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Amgen invested a record $7.2 billion in R&D in 2025, signaling its strategic shift towards becoming a growth compounder, driven by strong product sales and significant pipeline developments. Key products like Repatha and UPLIZNA have shown substantial growth, with UPLIZNA recently gaining European approval for generalized myasthenia gravis. The company’s future growth hinges significantly on the success of its MariTide program in obesity and metabolic disease, with ongoing Phase III studies.

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