Amgen (FRA:AMG) Research & Development: €6,447 Mil (TTM As of Mar. 2026)


FRA:AMG Amgen Inc FRA:AMG
87 GF Score
Price €306.40
GF Value €307.03
Valuation Fairly Valued
! 6 Warning Signs
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What is Amgen Research & Development?

Amgen FRA:AMG +0.77% 87 Research & Development is €6,447 Mil as of Mar. 2026. GuruFocus rates FRA:AMG with a GF Score™ of 87/100 and a GF Value™ of €307.03 (Fairly Valued). The stock has 6 warning signs investors should review.

Research & Development is the aggregate amount of research and development expenses during the year. Amgen's Research & Development for the three months ended in Mar. 2026 was €1,487 Mil. Its Research & Development for the trailing twelve months (TTM) ended in Mar. 2026 was €6,447 Mil.

Amgen  (FRA:AMG) Research & Development Explanation

If competitive advantage is created by a patent or tech advantage, at some point it will disappear.

High R&D usually dictates high SG&A which threatens the competitive advantage.

Amgen Research & Development Related Terms

Amgen Research & Development Historical Data

* Premium members only.

The historical data trend for Amgen's Research & Development can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Amgen Research & Development Chart

Amgen Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Research & Development
Get a 7-Day Free Trial Premium Member Only Premium Member Only 5,596.74 4,185.70 4,386.93 5,695.62 6,210.29

Amgen Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Research & Development Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 1,374.55 1,512.05 1,618.80 1,829.27 1,486.94
FRA:AMG
87GF Score
Amgen Inc FRA:AMG
Research & Development is just one metric. See GF Score™, valuation, warning signs, and more.
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Amgen Research & Development Calculation

This is the expense the company spent on research and development.

Research & Development for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was €6,447 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about Research & Development →
What does a Research & Development of €6,447 Mil mean?
Amgen (FRA:AMG) has a Research & Development of €6,447 Mil as of Mar. 2026. Research and development expense is the total cost for research and development activities. View historical data on Amgen and its competitors.
Is Amgen's Research & Development too high?
Amgen's current Research & Development is €6,447 Mil. Overall, Amgen has a GF Score™ of 87/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Amgen's Research & Development compare to GILD and PFE?
Amgen's Research & Development of €6,447 Mil can be compared against companies in the Drug Manufacturers industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Research & Development for a Drug Manufacturers company?
A good Research & Development depends on the Drug Manufacturers industry context. However, Research & Development should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Research & Development mean?
A high Research & Development can signal that a stock is expensive relative to its fundamentals. Research and development expense is the total cost for research and development activities. View historical data on Amgen and its competitors. Amgen's current Research & Development is €6,447 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Amgen stock overvalued right now?
Based on GuruFocus' analysis, Amgen (FRA:AMG) is currently considered Fairly Valued. The stock's GF Value™ is €307.03, compared to a current price of €306.40 — trading 0.2% below its estimated fair value. The current Research & Development is €6,447 Mil. Amgen's overall GF Score™ is 87/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Research & Development calculated?
Research & Development is calculated from a company's financial statements. For Amgen (FRA:AMG), the current Research & Development is €6,447 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Amgen (FRA:AMG) Overvalued in 2026?

Based on GuruFocus' analysis, Amgen stock appears to be undervalued. The current stock price of €306.40 is trading 0.2% below its estimated GF Value™ of €307.03. GuruFocus considers Amgen to be Fairly Valued.

Key valuation signals for FRA:AMG:

  • Research & Development: €6,447 Mil
  • GF Value™: €307.03 vs. price of €306.40 (0.2% below fair value)
  • GF Score™: 87/100 with 6 warning signs

No single metric tells the full story. See the FRA:AMG stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Amgen Business Description

Address One Amgen Center Drive, Thousand Oaks, CA, USA, 91320-1799
Amgen is a leader in biotechnology-based human therapeutics. Flagship drugs include red blood cell boosters Epogen and Aranesp, immune system boosters Neupogen and Neulasta, and Enbrel and Otezla for inflammatory diseases. Amgen introduced its first cancer therapeutic, Vectibix, in 2006 and markets bone-strengthening drugs Prolia/Xgeva (approved 2010) and Evenity (2019). The acquisition of Onyx Pharmaceuticals bolstered the firm's therapeutic oncology portfolio with Kyprolis. Recent launches include Repatha (cholesterol-lowering), Aimovig (migraine), Lumakras (lung cancer), and Tezspire (asthma). The 2023 Horizon acquisition brought several rare-disease drugs, including thyroid eye disease drug Tepezza. Amgen also has a growing biosimilar portfolio.
87GF Score

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Research & Development is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€306.40
Price
€307.03
GF Value