Amgen Beats Expectations, Raises Outlook
Update: 2025-11-04
Description
Amgen, a California-based biotech company, reported impressive third-quarter financial results, surpassing Wall Street's expectations with a 12% sales increase to $9.56 billion. Despite rising costs and a higher tax rate, the company raised its full-year financial outlook. Adjusted earnings per share also rose by 1% to $5.64, outperforming analyst forecasts. Amgen shares rose 1% in after-hours trading. Key products like Repatha saw a 40% sales surge, while Enbrel sales dropped by 30% due to a price reduction. Amgen expects to release MariTide data and has completed enrollment for two Phase Three studies.
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