A biotechnology company that makes medicines for serious illnesses, including the bone-strengthening drug Prolia, the cholesterol-lowering injection Repatha, and the psoriasis treatment Otezla, sold to patients and doctors worldwide. It was founded in 1980 in Thousand Oaks, California, as Applied Molecular Genetics, a name later shortened to "Amgen." Its first CEO famously ran the company from a small trailer so scientists could use the office space, and early experiments included trying to extract oil from shale and accelerate chicken growth.
Amgen CFO Peter Griffith to retire; Thomas Dittrich named successor effective September 1, 2026.
Peter H. Griffith will retire as Executive Vice President and Chief Financial Officer effective August 31, 2026, and remain as a non-executive officer through January 31, 2027.
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Thomas Dittrich, age 62, will join Amgen as Executive Vice President on July 1, 2026, and become CFO on September 1, 2026, reporting to CEO Robert A. Bradway.
Dittrich's compensation includes an annual base salary of CHF 1,070,000, a target bonus of 100% of base salary, and long-term incentive awards valued at CHF 4,500,000 for fiscal 2026.
Dittrich will receive one-time awards totaling CHF 14,500,000, including an RSU award of CHF 4,700,000, a cash bonus of CHF 4,000,000, and a retention bonus of CHF 5,800,000.
Dittrich previously served as CFO of Galderma Group AG, Shire Pharmaceuticals, and Sulzer AG, and held senior finance roles at Amgen from 2006 to 2014.
Dittrich will initially be based in Rotkreuz, Switzerland, and relocate to Thousand Oaks, California, with relocation benefits including a CHF 250,000 allowance.
5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements
Earnings8-K
Amgen reports Q1 2026 revenue of $8.6 billion, up 6% year-over-year
GAAP EPS rose 4% to $3.34; non-GAAP EPS rose 5% to $5.15.
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Total revenues increased 6% to $8.6 billion in Q1 2026, with product sales up 4% to $8.2 billion.
GAAP operating margin increased 17.4 percentage points to 32.4%; non-GAAP operating margin decreased 0.4 percentage points to 45.3%.
Free cash flow was $1.5 billion in Q1 2026, up from $1.0 billion in Q1 2025.
Sixteen products achieved double-digit sales growth; seventeen products are annualizing at more than $1 billion.
2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits
Amgen EVP and CTO David M. Reese to retire effective June 30, 2026
David M. Reese will retire as Executive Vice President and Chief Technology Officer on June 30, 2026, and will remain employed as EVP until then.
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Effective June 1, 2026, Reese's responsibilities will be redistributed to James E. Bradner, Murdo Gordon, and Peter H. Griffith.
James Bradner will serve as EVP of Research and Development, Artificial Intelligence and Data; Sean Bruich will become SVP and Chief Technology Officer.
Murdo Gordon will serve as EVP of Amgen Global Markets and Policy, and Paul Burton will continue as SVP and Chief Medical Officer.
Reese will be retirement eligible and receive retirement benefits per company plans as described in the 2026 Proxy Statement.
5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements · 9.01 Financial Statements and Exhibits
Amgen issues $4.0B in senior notes across four tranches due 2031-2056
Net proceeds to Amgen were approximately $3.961 billion after underwriting discounts and estimated offering expenses.
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On February 17, 2026, Amgen issued and sold $1.0B of 4.200% Senior Notes due 2031, $1.75B of 4.850% Senior Notes due 2036, $500M of 5.500% Senior Notes due 2046, and $750M of 5.650% Senior Notes due 2056.
The notes were issued under an existing indenture dated May 22, 2014, with The Bank of New York Mellon Trust Company, N.A. as trustee, and an officer's certificate dated February 19, 2026.
Interest is payable semi-annually on February 19 and August 19, beginning August 19, 2026.
Upon a change in control triggering event, noteholders may require Amgen to repurchase the notes at 101% of principal plus accrued interest.
1.01 Entry into a Material Definitive Agreement · 9.01 Financial Statements and Exhibits