(Refiled to spell out quarter in headline with no changes to

text)

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Amgen ( AMGN ) posts adjusted EPS $6.02 vs Street's $5.29

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Sales of Repatha increase, Prolia sales decline due to

competition

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Amgen ( AMGN ) slightly raises full-year financial outlook

By Deena Beasley

Aug 5 (Reuters) - Amgen ( AMGN ) on Tuesday posted

quarterly financial results that beat Wall Street expectations

as a 9% increase in product sales offset higher operating

expenses due in part to development of experimental weight-loss

drug MariTide.

The California-based biotech company's second-quarter

revenue rose 9% from a year earlier to $9.2 billion. Adjusted

earnings per share increased 21% to $6.02.

Analysts had expected an adjusted profit of $5.29 on revenue

of $8.94 billion, according to LSEG data.

The "strong quarter for Amgen ( AMGN ) starts to reshape the

narrative for the (company) as we look to the back half of the

year," BMO Capital Markets analyst Evan Seigerman said in a

research note.

Shares of Amgen ( AMGN ), which closed at $300.08, were down about

half a percentage point at $298.50 in extended trading.

Sales of cholesterol-lowering medication Repatha rose 31% to

$696 million. Sales of bone drug Prolia fell 4% to $1.1 billion

and the company said it expects further erosion this year due to

new competition from biosimilars.

Adjusted operating expenses rose 8% from a year earlier,

while research and development costs rose 18%.

The company said it expects to have data in the fourth quarter

from two key mid-stage MariTide studies. One is testing the drug

in obese or overweight adults with or without type 2 diabetes,

while the second is looking at MariTide as a treatment for type

2 diabetes.

MariTide is an antibody linked to a pair of peptides that

activate receptors for the appetite- and blood sugar-reducing

hormone GLP-1 while simultaneously blocking a second gut hormone

called GIP.

Several companies are working to develop weight-loss drugs,

encouraged by booming demand for current medicines and estimates

that sales of obesity treatments could hit $150 billion in the

coming years.

For the full year, Amgen ( AMGN ) slightly raised its financial

outlook to adjusted earnings per share of $20.20 to $21.30 on

revenue of $35 billion to $36 billion. It had previously

forecast earnings of $20.00 to $21.20 per share on revenue of

$34.3 billion to $35.7 billion.

Analysts, on average, have estimated 2025 earnings of $20.91

per share on revenue of $35.4 billion.

The company said its 2025 outlook includes the impact of

implemented tariffs, but does not account for any future levies,

including potential sector-specific tariffs, or pricing actions

that could be implemented in the future.

The pharmaceutical industry is facing intense pressure from U.S.

President Donald Trump to lower prices Americans pay for

prescription medicines, while preparing for 15% tariffs on

imports from the European Union.

Amgen ( AMGN ) CEO Robert Bradway, during a conference call with

investors, said the company agrees that reform is needed in the

U.S. healthcare system, but that it is too early to comment on

specific plans. "We expect to work with the administration," he

said.