Amgen IncAMGN
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Amgen beat Q2 estimates and raised full-year guidance.
Impact on stocks 1
Biotech & Genomic Medicine
Amgen IncAmgen reported second quarter results that beat Wall Street expectations and raised its full-year guidance. Revenue came in at $10.05 billion versus analyst estimates of $9.40 billion, a 9.5% year-over-year increase, while adjusted EPS of $6.29 beat estimates of $5.62. The company lifted its full-year revenue guidance to $38.8 billion at the midpoint from $37.8 billion, and raised adjusted EPS guidance to $22.90 at the midpoint. Management highlighted double-digit growth in key products like Repatha, EVENITY, and TEZSPIRE, with 22 products achieving double-digit sales growth and 17 products annualizing over $1 billion in sales. During the earnings call, analysts questioned executives on topics including Olpasiran's trial design, business development strategy, MariTide's tolerability, competitive pressure on Otezla, and monitoring requirements for IMDELLTRA.
Amgen IncAmgen beat Q2 estimates and raised full-year guidance.