Amgen Q2 Sales Rise 9%, Adjusted Earnings Beat Street View

Amgen's second-quarter sales have increased by 9% driven by strong demand for several key products, including Repatha, Evenity, and medications for rare diseases. The company's adjusted earnings rose 4% to $6.29 per share, beating analysts' expectations of $5.62.

Repatha, a cholesterol drug, saw sales rise 37% to $953 million, exceeding analyst estimates of $916 million. Evenity, a bone drug, also performed well with sales increasing 38% to $714 million, ahead of predictions of $645 million.

However, Prolia, an older bone drug, experienced a decline in sales due to patent expirations and increased competition, falling 32% to $759 million. The company's newer rare disease drugs, Uplizna and Tavneos, saw significant growth, with Uplizna increasing 90% and Tavneos rising 36%. Amgen is also developing MariTide, an experimental weight-loss drug.

The company has raised its full-year outlook to adjusted earnings of $22.30 to $23.50 per share on revenue of $38.2 billion to $39.4 billion.