Amgen Crushes Q2 Earnings Expectations with Record Revenue
Amgen reported strong Q2 earnings, exceeding $10 billion in revenue and beating expectations. The company's growth drivers include Repatha, EVENITY, TEZSPIRE, rare-disease portfolio, innovative oncology products, and biosimilars.
The firm's CEO Bob Bradway highlighted 22 products with double-digit sales growth, while 17 products generated over $1 billion in annualized sales. Repatha saw a 37% increase to $953 million, driven by expanding prescribing among primary-care physicians and existing cardiologists treating more patients.
EVENITY's sales rose 38% to $714 million, with the company citing its strong volume share in Japan. TEZSPIRE's growth reached 42% to $486 million, fueled by demand for severe uncontrolled asthma treatment. The rare disease portfolio saw a 21% increase to $1.6 billion.
Amgen also advanced IMDELLTRA into earlier lines of treatment for small cell lung cancer through three phase III studies and evaluated more convenient dosing approaches with subcutaneous tarlatamab in the DeLLphi-315 study.