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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.

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.

Second-quarter net earnings were $2.65 per share.

"We're delivering strong performance and reaching more

patients with innovative medicines and biosimilars that address

serious diseases," Amgen ( AMGN ) CEO Robert Bradway said in a statement.

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 studies of its experimental

weight-loss drug MariTide. 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.

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 that Americans pay

for prescription medicines, while preparing for 15% tariffs on

imports from the European Union.