Amgen (AMGN) Research & Development (2009 - 2026)
Amgen (AMGN) posted Research & Development of $1.87 billion for Q2 2026, up 7.1% from $1.74 billion a year earlier and up 8.7% from the prior quarter.
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Analysis
Amgen (AMGN) Research & Development (2009 - 2026) Analysis & Trends
For the trailing twelve months through Jun 30, 2026, Research & Development at Amgen was $7.63 billion, up 19.1% year-over-year; for FY2025, it came in at $7.27 billion, up 21.9% from FY2024.
- Annual Research & Development has increased for three consecutive years, with a five-year compound annual growth rate of 11.6% (FY2020 to FY2025).
- In prior years, Amgen's Research & Development was $5.96 billion in FY2024 (+24.7%), $4.78 billion in FY2023 (+7.9%), $4.43 billion in FY2022 (-8.0%) and $4.82 billion in FY2021 (+14.5%).
- Quarterly Research & Development has run from a low of $959 million in Q1 2022 to a high of $2.14 billion in Q4 2025 over five years.
- On a year-over-year basis, Research & Development has increased in each of the last 11 quarters, with growth averaging 19.5% over the last eight quarters.
- The strongest year-over-year quarter for Research & Development in the past five years was Q3 2024, with growth of 34.4%; the weakest was Q3 2022, with a decline of 21.8%.
- According to Business Quant data, Research & Development for the three prior quarters was $1.72 billion (Q1 2026), $2.14 billion (Q4 2025) and $1.9 billion (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Johnson & Johnson | 638.12 Bn | 556.64 Bn | 17.26 Bn | 3.65 Bn |
| 2 | AbbVie | 462.60 Bn | 435.75 Bn | 12.70 Bn | 2.34 Bn |
| 3 | Merck | 358.70 Bn | 313.13 Bn | 12.21 Bn | 9.74 Bn |
| 4 | Novartis Ag | 272.16 Bn | 228.03 Bn | 11.24 Bn | -2.85 Bn |
| 5 | Astrazeneca | 250.36 Bn | 223.92 Bn | 12.86 Bn | -4.05 Bn |
| 6 | Amgen | 227.87 Bn | 183.27 Bn | 7.24 Bn | 1.87 Bn |
| 7 | Gilead Sciences | 184.97 Bn | 159.08 Bn | 6.22 Bn | 1.76 Bn |
| 8 | Pfizer | 162.61 Bn | 109.56 Bn | 10.94 Bn | 2.81 Bn |
| 9 | Vertex Pharmaceuticals | 132.45 Bn | 104.46 Bn | 2.84 Bn | 993.80 Mn |
| 10 | Bristol Myers Squibb | 127.55 Bn | 78.82 Bn | 9.25 Bn | 2.96 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 1.87 Bn |
| Mar 31, 2026 | 1.72 Bn |
| Dec 31, 2025 | 2.14 Bn |
| Sep 30, 2025 | 1.90 Bn |
| Jun 30, 2025 | 1.74 Bn |
| Mar 31, 2025 | 1.49 Bn |
| Dec 31, 2024 | 1.72 Bn |
| Sep 30, 2024 | 1.45 Bn |
| Jun 30, 2024 | 1.45 Bn |
| Mar 31, 2024 | 1.34 Bn |
| Dec 31, 2023 | 1.53 Bn |
| Sep 30, 2023 | 1.08 Bn |
| Jun 30, 2023 | 1.11 Bn |
| Mar 31, 2023 | 1.06 Bn |
| Dec 31, 2022 | 1.32 Bn |
| Sep 30, 2022 | 1.11 Bn |
| Jun 30, 2022 | 1.04 Bn |
| Mar 31, 2022 | 959.00 Mn |
| Dec 31, 2021 | 1.35 Bn |
| Sep 30, 2021 | 1.42 Bn |
API Access
Amgen Research & Development API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=research-and-development&ticker=AMGN&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "research-and-development", "ticker": "AMGN", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=research-and-development&ticker=AMGN&period=max&api_key=YOUR_API_KEY");
const data = await res.json();