Amgen Beats Expectations with 9% Sales Growth in Q2

Amgen reported second-quarter sales rose 9% to $10.1 billion, driven by strong demand for its cholesterol drug Repatha and bone drug Evenity. The California-based biotech also saw growth in its rare disease medications.

The company's adjusted earnings per share increased 4% from a year earlier to $6.29, exceeding analysts' expectations of $5.62. Net earnings per share rose 65% to $4.37.

Repatha sales jumped 37% to $953 million, while Evenity sales increased 38% to $714 million. Sales of older bone drug Prolia fell 32% due to patent expirations and competition.