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The biotech raised its full-year revenue forecast to $38.2 billion–$39.4 billion after second-quarter revenue rose 10% to $10.1 billion
Amgen $AMGN reported second-quarter results on Tuesday that topped expectations, raised its full-year outlook, and disclosed it was ending development of an early-stage weight loss drug candidate.
The Thousand Oaks, California-based biotech earned $2.38 billion in the second quarter, translating to $4.37 per diluted share, a significant jump from the $1.43 billion, or $2.65 per share, it recorded in the year-ago period. On an adjusted basis, earnings came to $6.29 per share, up 4% year over year. Analysts had expected adjusted earnings of $5.62 per share, according to the Wall Street Journal.
Total revenue climbed 10% to $10.05 billion, compared with $9.18 billion in the second quarter of 2025, the company said. Product sales grew 9% to $9.54 billion, driven by volume growth. Analysts had expected revenue of $9.43 billion, according to the Journal.
