Amgen Sharpens Obesity Strategy: Progresses MARITIME Phase 3 Program and Reports Q2 2026 Revenue Growth

Amgen Sharpens Obesity Strategy: Progresses MARITIME Phase 3 Program and Reports Q2 2026 Revenue Growth

In its Q2 2026 financial results reported on August 4, 2026, Amgen Inc. (NASDAQ: AMGN) delivered a strong financial performance, beating expectations and raising its full-year outlook. Crucially, the company provided updates on its clinical pipeline, confirming the steady progress of its highly anticipated next-generation obesity candidate, MariTide (maridebart cafraglutide), and its ongoing Phase III development program.

Q2 2026 Financial Highlights

Amgen's total revenues increased 10% year-over-year to $10.1 billion for the second quarter ending June 30, 2026, driven by broad-based growth across its commercial portfolio. GAAP diluted EPS was $4.37 (down from $6.29 in Q2 2025 due to higher deal-related charges and tax adjustments), while non-GAAP diluted EPS was $7.71. The strong revenue momentum prompted Amgen's management to raise full-year revenue guidance.

MariTide and the MARITIME Phase 3 Program

As Amgen consolidates its metabolic focus on MariTide—having previously discontinued its early-stage oral small molecule AMG 513—the company is rapidly advancing its global clinical program. MariTide is a bispecific monoclonal antibody that acts as a GIP receptor (GIPR) antagonist and a GLP-1 receptor agonist, offering a unique mechanism of action compared to Lilly's tirzepatide (which is a dual agonist).

During the quarter, Amgen confirmed that its global Phase III program, titled "MARITIME," is active and progressing:

• MARITIME-1 (Obesity): The 72-week chronic weight management study in adults living with obesity or overweight (without Type 2 diabetes) is active and fully enrolled. It evaluates safety, tolerability, and efficacy across three different doses with an optimized three-step dose escalation protocol designed to improve gastrointestinal tolerability.
• MARITIME-2 (Type 2 Diabetes): The Phase III trial evaluating MariTide in overweight or obese patients living with Type 2 diabetes (T2D) is also active and progressing. This follows positive Phase II data showing up to a 2.2 percentage point reduction in HbA1c levels alongside robust weight loss.
• Indication Expansion: Amgen has also initiated and is actively recruiting for additional Phase III trials, including MARITIME-CV (cardiovascular outcomes), MARITIME-HF (heart failure), and MARITIME-OSA (obstructive sleep apnea), positioning MariTide to compete directly with Lilly's retatrutide and Novo's semaglutide across multiple therapeutic indications.

MariTide's primary competitive advantage remains its potential for less frequent dosing. Phase II data presented earlier in the year demonstrated that MariTide could support once-monthly or even once-quarterly subcutaneous maintenance dosing¹, a major differentiator in long-term weight management.

IRS Tax Litigation Overhang

While Amgen's clinical pipeline remains robust, the company continues to navigate a major legal overhang. The high-stakes IRS Tax Court litigation covering the tax years 2010 through 2015—in which the IRS has asserted that Amgen owes billions in back taxes and penalties related to its transfer pricing practices—remains unresolved.

In its Q2 2026 financial disclosures, Amgen confirmed that the litigation is ongoing, with a Tax Court decision expected no earlier than the second half of 2026. A favorable ruling would remove a significant discount overhang on the stock, whereas an adverse ruling could trigger substantial financial liabilities and set a negative precedent for subsequent tax audits (2016–2022).