Amgen Crushes Q2 Expectations with 9.5% Revenue Growth

Biotech giant Amgen (NASDAQ:AMGN) reported strong second-quarter results that exceeded market expectations. The company's revenue rose 9.5% year-over-year to $10.05 billion, beating analyst estimates of $9.40 billion.

The growth was driven by double-digit sales increases in key products such as Repatha, EVENITY, and TEZSPIRE. CEO Robert Bradway attributed the strong performance to the breadth and depth of Amgen's portfolio, which has demonstrated its ability to grow despite patent expirations and increased competition.

Management also highlighted the contribution of biosimilars and innovative oncology franchises to the company's success. Looking ahead, Amgen's updated guidance is based on continued investment in its late-stage pipeline and anticipated additional indications for existing products.