Amgen Crushes Q2 Earnings Expectations Amid Rising Demand

Amgen reported strong second-quarter sales and profit growth, exceeding analysts' expectations. The biotech company's revenue rose 10% to $10.1 billion, driven by demand for cholesterol drug Repatha, bone drug Evenity, and medications for rare diseases.

The California-based company's adjusted earnings per share increased 4% from a year earlier to $6.29, beating estimates of $5.62. Net earnings per share soared 65% to $4.37.

Amgen's CEO Robert Bradway said the company delivered 'continued momentum across our six key growth drivers,' which grew 26% year over year and represent nearly 70% of second-quarter product sales.