Oct 30 (Reuters) - Amgen ( AMGN ) reported higher

quarterly earnings on Wednesday, driven by a 24% rise in sales

of products including cholesterol drug Repatha and Prolia for

osteoporosis, and said results of a mid-stage trial of a

potentially lucrative obesity medicine will be unveiled late

this year.

The U.S. biotech company said adjusted third-quarter

earnings rose 13% from a year earlier to $5.58 per share,

beating the $5.11 estimate by analysts, according to LSEG data.

Third-quarter revenue of $8.5 billion was in line with

analyst estimates of $8.52 billion.

Amgen ( AMGN ) said a Phase 2 study of its experimental weight-loss

drug Maritide, part of a class known as GLP-1s, is ongoing with

initial results expected in late 2024. The company has already

set up a broad Phase 3 clinical program that could provide data

that would be the basis for getting the medicine approved.

Some analysts have forecast annual sales of new weight-loss

medicines reaching $150 billion in the next decade.

Amgen ( AMGN ) has begun studying a different weight-loss drug, known

as AMG513, but few details have been disclosed.

The company also announced plans for late-stage testing of

experimental immunotherapy xaluritamig in men with advanced

prostate cancer.

"We continue to invest in research and development

spending," Chief Financial Officer Peter Griffith told Reuters,

noting that spending this year is expected to increase 25%.

Quarterly sales of Repatha rose 40% to $567 million, while

sales of Prolia increased 6% to $1.05 billion.

Sales of arthritis drug Enbrel fell 20% to $825 million as

revenue from outside of the U.S. nearly disappeared due to

competition from less expensive biosimilar versions of the drug.

Sales of thyroid eye disease drug Tepezza, acquired with

Amgen's ( AMGN ) buyout last year of Horizon Therapeutics, totaled $488

million for the quarter.

For the full year, Amgen ( AMGN ) narrowed its earnings outlook to

between $19.20 and $20.00 per share, from $19.10 to $20.10. It

also raised the midpoint of its revenue forecast to a range of

$33 billion to $33.8 billion from a previous $32.8 billion to

$33.8 billion.

Analysts, on average, had forecast earnings per share of

$19.49 on revenue of $31.8 billion.