How to buy Amgen (AMGN) stock from India

Yes, an Indian resident can buy Amgen — legally, in US dollars, under the RBI's Liberalised Remittance Scheme (LRS). The buying is the easy 10%. The 90% is tax, estate-tax exposure, and position sizing. AMGN yields near 3% with a long record of raises, so US withholding and Form 67 are part of the deal from day one.

The 30-second version

• Legal and simple. Buy AMGN via an India-facing platform (Vested, INDmoney) or a global broker (IBKR, Rovia). Whole shares or a fractional rupee amount.
• Dividend matters. AMGN pays a quarterly dividend (~9.5 dollars per share annually, yield near 3%) and has raised it every year since starting payouts — so US withholding and Form 67 are central to the math.
• India tax: hold more than 24 months for 12.5% LTCG (no indexation); sell sooner and pay your slab. Section 112, not the friendlier 112A.
• The trap most miss: directly-held AMGN is a US-situs asset — above $60,000, your estate faces up to 40% US estate tax, with no India-US treaty relief.
• If your thesis is "US biotech," QQQ/VOO/VTI hold AMGN; IBB and XBI give concentrated biotech exposure with AMGN as a top weight.

Quick facts

Can an Indian resident buy it?	Yes — fully legal under the LRS
Ticker / exchange	AMGN / Nasdaq
How	India-facing platform (Vested, INDmoney) or global broker (IBKR, Rovia)
Minimum	A fraction of one share
Dividend	Yes — quarterly, run-rate ~9.5 dollars/share, yield near 3%
US dividend withholding	25% under the India-US DTAA (W-8BEN required)
India tax on gains	12.5% LTCG after 24 months; else your slab (Section 112)
Estate-tax risk	US-situs above $60k means up to 40%, no treaty relief
Annual compliance	Schedule FA plus Form 67 every year you hold

How to buy it — 3 steps

1. Open an account and finish KYC. Pick an India-facing platform (Vested, INDmoney) or a global broker (Interactive Brokers, Rovia). File your W-8BEN during onboarding — this cuts US dividend withholding from the default 30% to the 25% treaty rate under the India-US DTAA. New to this? Start with how to invest in US stocks from India.
2. Fund it via the LRS. Remit under the LRS (cap: $250,000 per financial year). 20% TCS applies above ten lakh rupees in a year — a creditable prepayment, not a cost. See LRS explained and the LRS and TCS calculator.
3. Place the order. AMGN has not split in over two decades, so one share trades in the high-200s to mid-300s of dollars — affordable as a whole share, or buy a fractional rupee amount.

The dividend tax that actually matters

Unlike a non-payer, AMGN puts you on the dividend-tax treadmill every quarter. Your US broker withholds 25% under the India-US DTAA at source, the gross dividend is taxable in India at your slab, and you reclaim the US tax as a Foreign Tax Credit by filing Form 67 before your ITR.

Worked dividend example. Hold 20 shares at roughly 9.5 dollars per share per year = 190 dollars gross. US withholds 25% (47.50), you receive 142.50. In India the full 190 is added to your income at slab — a 30%-bracket investor owes 57 dollars India tax, claims the 47.50 FTC, net India top-up 9.50. Effective total: ~30%, the higher of the two rates.

From assessment year 2026-27, Form 67 is being restructured (toward Form 44) — same FTC principle, updated schema. See dividend withholding and Form 67. AMGN has raised the dividend every year on a Dividend Aristocrat-track — that growing rupee stream is the floor under the total-return story.

The capital-gains tax

Your second tax exposure is on capital gains when you sell, under Section 112 (foreign shares don't get the Section 112A treatment Indian-listed equity enjoys):

Holding period	Treatment	Rate
24 months or less	Short-term	Your slab rate (up to ~30% plus surcharge)
More than 24 months	Long-term	12.5%, no indexation

Worked example. Buy 5 shares at $280 when USD/INR is 86 → cost 1,20,400 rupees. Sell 26 months later at $325 when USD/INR is 88 → proceeds 1,43,000 rupees. Taxable gain 22,600 rupees; LTCG at 12.5% = 2,825 rupees. Gains are computed in rupees, so a weaker rupee at sale amplifies the reported gain. Model your own with the US capital-gains calculator; rules in how US stocks are taxed in India.

The $60,000 estate-tax trap

Directly-held AMGN is a US-situs asset. If the holder dies with more than $60,000 of US-situs assets, the estate faces US estate tax up to 40% — and the India-US treaty does not cover estate tax, so there's no credit or relief. The fix (pooled or fund structures rather than direct shares) has to be a deliberate choice before the position gets large. Full detail: the $60,000 estate-tax trap.

Buy the stock, or get Amgen through an ETF?

If you want…	Best route
A concentrated bet on AMGN's pipeline and dividend	AMGN directly
"US large-cap biotech" with diversification	IBB or XBI — AMGN sits as a top weight
Broad US equity with AMGN inside	VOO, VTI, or QQQ — held at index weight
The least dividend-tax paperwork	Accumulating ETFs, lighter Form 67 load

AMGN appears in VOO, VTI, QQQ at index weight, and is a top holding in IBB (large-cap biotech, Amgen-heavy) and XBI (equal-weighted, small-cap tilt). An ETF means one Schedule FA entry and cleaner estate-tax treatment. Compare in direct stocks vs US ETFs and best US ETFs for Indian investors; broader case in US ETFs for Indians.

The business in one screen

What it is: Amgen is a large-cap biotech with three layered profiles — a mature legacy franchise (Enbrel, Prolia, Xgeva, Repatha) facing biosimilar pressure; a rare-disease platform acquired via Horizon Therapeutics (Tepezza, Krystexxa, Uplizna); and a pipeline whose biggest swing factor is MariTide (maridebart cafraglutide), a monthly-dosed GLP-1/GIP obesity injection in Phase 3.

Bull case	Bear case
MariTide monthly dosing could differentiate vs daily/weekly GLP-1 incumbents	MariTide Phase 3 is binary; field crowded with Lilly and Novo
Horizon adds a durable rare-disease platform (Tepezza, Krystexxa, Uplizna)	Enbrel biosimilar erosion is already in the numbers
Dividend royalty — annual raises, ~3% yield, strong FCF	Prolia/Xgeva face biosimilar entry too
Deep oncology pipeline (KRAS G12C, T-cell engagers, BiTE)	Large net debt overhang from the Horizon acquisition

Exact valuation is in the live widget above — a mature cash-cow biotech with one large optionality and a heavy biosimilar headwind.

Our take

Verdict: HOLD — dividend is the floor, biosimilars are the drag, MariTide is the swing.

• Core portfolio is mature. Enbrel, Prolia/Xgeva, and Repatha are mid-life. Biosimilar erosion on Enbrel is in the run-rate; Prolia/Xgeva face the same path soon. Limited organic growth from the legacy book.
• Horizon helps, doesn't transform. The deal bought a quality rare-disease shelf and added meaningful net debt. It steadies the ship but doesn't reset the growth profile.
• MariTide is the real call. A monthly GLP-1/GIP injection could differentiate against daily and weekly incumbents, but Phase 3 outcomes are uncertain and the field — Lilly's tirzepatide and retatrutide, Novo's semaglutide and CagriSema — is the most contested in pharma. Bull case rests on MariTide working and being commercially differentiated.
• Dividend is the floor. A ~3% yield with multi-decade raises gives an income cushion pure-play biotechs lack. For an Indian investor on a high slab, 25% US withholding plus Form 67 admin is the price of admission.

Compliance note. Vested.blog is not a SEBI-registered Research Analyst. The above is an editorial opinion for educational illustration only — not investment advice and not a regulated stock recommendation. Vested.blog is published by Rovia; the publisher and its affiliates may hold positions in stocks discussed. Make your own decisions or consult a SEBI-registered advisor.

Risks to size for

• MariTide binary risk: a disappointing Phase 3 read-out — on weight loss, tolerability, or durability — would compress the multiple sharply; a clean win is partially priced in.
• Biosimilar cliff: Enbrel erosion is ongoing, Prolia/Xgeva loss of exclusivity is approaching, biosimilar entrants are well-funded.
• Leverage: the Horizon acquisition added significant debt; flexibility tightens if rates stay higher or pipeline cash needs increase.
• Currency: your return is in USD but you spend rupees — see the rupee-dollar effect.

Two things people forget

• Schedule FA and Form 67: disclose AMGN in Schedule FA of your ITR every year you hold it — even if bought and sold within the year, even at a loss. And file Form 67 before your ITR every year you receive a dividend, to claim the 25% US withholding as FTC. Non-disclosure carries Black Money Act penalties. Use the Schedule FA helper.
• Position size: a single large-cap biotech, even a 3%-yielder, is not an index. Size AMGN as a high-conviction satellite, not a substitute for IBB or a broad ETF.

Bottom line

Buying AMGN from India is easy and legal. What needs thought: a recurring 25% US dividend withholding and annual Form 67 work, a Section-112 capital-gains decision (12.5% after 24 months), the $60k US estate-tax trap, and a single-stock concentration call on a name where MariTide is the dominant catalyst. Dividend is the floor, biosimilar drag is real, upside leans on one obesity asset. HOLD — own it if you specifically want the income and MariTide optionality, otherwise IBB or QQQ gives diversified exposure with less admin. Start at the US investing hub.

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This article is general information, not personalised investment, tax, or legal advice. Rules, rates, and thresholds described here are as of 2026 and can change; verify the current position and consult a qualified advisor before acting.