Amgen Cranks Up Sales Forecast After Strong Q2 Beat

Amgen's second quarter results exceeded Wall Street expectations, prompting the company to raise its sales forecast for 2026.

The biotech firm reported adjusted earnings of $22.30 to $23.50 per share, surpassing analysts' predictions.

CEO Bob Bradway attributed the strong growth to increased investment in innovation, which he said has been made possible by Amgen's sound financial structure.

Newer drugs like Repatha and Evenity are driving the company's success, with sales increasing 37% and 38%, respectively.

However, not all is smooth sailing for Amgen. The company's Tavneos treatment faces a regulatory threat, with regulators in the U.S. and Europe proposing to take it off the market due to concerns over its effectiveness.