Amgen Revenue Jumps 10%, Raises Full-Year Outlook Amid Key Medicine Growth

Amgen Inc reported its second-quarter revenue at $10 billion, up 10% from last year's numbers. The biotechnology company's growth across several key medicines offset competitive pressure on its bone-health franchise.

The company raised its full-year revenue and adjusted earnings outlook while continuing to invest in late-stage clinical programs and manufacturing capacity.

CEO Bob Bradway said 22 products posted double-digit sales growth during the quarter, with 17 products generating annualized sales of more than $1 billion based on second-quarter performance. The six identified growth drivers increased at a combined 26% year over year and represented nearly 70% of product sales.

Key products driving sales growth include Repatha, which saw sales rise 37% to $953 million. EVENITY sales increased 38% to $714 million, with the drug holding more than 55% volume share in Japan.