---
schema_version: "secwatch.filing_event.v1"
accession: "0000318154-23-000026"
form_type: "8-K"
ticker: "AMGN"
cik: "0000318154"
company_name: "AMGEN INC"
filed_at: "2023-04-27T23:59:59+00:00"
generated_at: "2026-06-16T09:40:01.307004+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Amgen Q1 2023: Revenue $6.1B (-2%); GAAP EPS $5.28; non-GAAP EPS $3.98 (-6%)

## Summary
- Total revenues $6.1B (-2% YoY); product sales +2% with 14% volume growth; ex-U.S. volume grew 22%.
- GAAP EPS $5.28 (+97% YoY) on BeiGene mark-to-market gain; non-GAAP EPS $3.98 (-6%) driven by higher R&D.
- GAAP operating income $1.9B (32.9% margin); non-GAAP operating income $2.8B (48.3% margin).
- Free cash flow $0.7B vs $2.0B in Q1 2022, due to payment timing and higher capex for new facilities.
- CEO reaffirms planned closing of Horizon Therapeutics acquisition.

## SEC filing metadata
- accession: 0000318154-23-000026
- form_type: 8-K
- ticker: AMGN
- cik: 0000318154
- company_name: AMGEN INC
- filed_at: 2023-04-27T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/318154/000031815423000026/0000318154-23-000026-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/318154/000031815423000026/amgn-20230427.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000318154-23-000026
- JSON: https://secwatch.observer/filing/0000318154-23-000026.json
- Plain text: https://secwatch.observer/filing/0000318154-23-000026.txt

## Key facts
- Earnings Releases
  AMGEN INC reported three months ended March 31, 2023 results: revenue $6.1 billion, EPS $5.28.
  - Period: three months ended March 31, 2023
  - Revenue: $6.1 billion
  - EPS: $5.28
  - Result: reported results
  source text: Key results include: • Total revenues decreased 2% to $6.1 billion in comparison to the first quarter of 2022, resulting from lower Other Revenue from our COVID-19 manufacturing collaboration, partially offset by a 2% increase in product sales. Produ ct sales growth was driven by 14% volume growth, partially offset by 5% lower net selling price, 3% unfavorable changes to estimated sales deductions, 2% lower inventory levels and 2% negative impact from foreign exchange. Excluding the 2% negative impact of foreign exchange on product sales, total revenues were largely unchanged from Q1 2022. ◦ Volume growth of 14% included double-digit volume growth from EVENITY ® (romosozumab-aqqg), BLINCYTO ® (blinatumomab), Nplate ® (romiplostim), LUMAKRAS ® /LUMYKRASTM (sotorasib), AMJEVITA ® /AMGEVITATM (adalimumab), Repatha ® (evolocumab), KYPROLIS ® (carfilzomib) and Vectibix ® (panitumumab). ◦ Ex-U.S. volume grew 22%, including 47% volume growth in the Asia Pacific region. • GAAP earnings per sha
  evidence_url: https://www.sec.gov/Archives/edgar/data/318154/000031815423000026/0000318154-23-000026-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.