Amgen announced a $300 million investment to expand its biologics manufacturing facility in Juncos, Puerto Rico. The new capital‑expenditure will increase production capacity and support the deployment of next‑generation biomanufacturing technologies at the site. Combined with the $650 million previously committed, the company’s total investment in the Juncos facility approaches $1 billion.
The expansion is part of Amgen’s broader U.S. manufacturing strategy, which already includes $900 million in Ohio and $600 million in California. By expanding domestic capacity, Amgen aims to strengthen supply‑chain resilience, reduce dependence on overseas manufacturing, and create hundreds of construction jobs in Puerto Rico.
Amgen’s Q1 2026 earnings, released on April 30, 2026, showed revenue of $8.6 billion, up 6 % from $8.1 billion in Q1 2025. The growth was driven by 9 % volume growth, offset by lower net selling prices and inventory levels. Non‑GAAP EPS rose 5 % to $5.15 from $4.90, while GAAP EPS increased 4 % to $3.34 from $3.20. Free cash flow reached $1.5 billion, up from $1.0 billion. “Our first quarter results demonstrate the strength of our business, with 16 brands achieving double‑digit growth, enabling us to grow through expected patent expirations and increased competition. With a new wave of molecules progressing in Phase 3 clinical development, we’re confident in our ability to deliver attractive long‑term growth,” said Robert A. Bradway, chairman and chief executive officer.
The market reaction to the earnings was muted. Investors noted that, although Amgen beat earnings and revenue estimates, the company did not provide a significant upward revision to its full‑year guidance—$37.1 billion to $38.5 billion in revenue and $21.70 to $23.10 in non‑GAAP EPS—and continued to face patent headwinds and biosimilar competition. The strong performance of key brands such as Repatha, Evenity, and TEPEZZA helped offset these concerns.
Amgen’s leadership emphasized the strategic importance of the Puerto Rico investment. “Amgen has been a leader in U.S. biomanufacturing for decades, and this expansion reflects our continued commitment to American manufacturing,” said Bradway. “By growing our operations in Puerto Rico, we are ensuring patients have access to the medicines they need, investing in the long‑term strength of our domestic supply chain and supporting American jobs.” Puerto Rico Governor Jenniffer González Colón added, “This investment confirms that the policies we have implemented are working. Puerto Rico has more than 60 years of excellence in the biopharmaceutical sector, supported by a highly skilled workforce and world‑class infrastructure, and Amgen knows this better than anyone.” Secretary of the Department of Economic Development and Commerce Sebastián Negrón Reichard noted, “Amgen’s additional $300 million commitment in Juncos is a powerful signal that the future of American biomanufacturing is being built here. Combined with the $650 million previously announced, this represents nearly $1 billion in confidence in our workforce, our capabilities and our ability to produce life‑saving medicines.”
The expansion aligns with Amgen’s capital‑expenditure guidance of approximately $2.6 billion for 2026 and supports the company’s goal of maintaining a robust domestic manufacturing footprint. By investing in Puerto Rico’s skilled workforce and established infrastructure, Amgen positions itself to meet future demand for biologics, mitigate supply‑chain risks, and sustain long‑term growth in a competitive biopharma landscape.
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