Amgen Reports 20% YoY Revenue Growth in Q2, Raises Full-Year Guidance

Gelonghui August 7 | U.S.-based pharmaceutical company Amgen announced its second-quarter earnings as of the end of June. Revenue reached $8.39 billion, a year-over-year increase of 20%, surpassing market expectations of $8.37 billion. The sales growth was primarily driven by older drugs such as Prolia for osteoporosis and Repatha for cholesterol reduction. Net profit was $746 million, a year-over-year decrease of 46%; adjusted earnings per share were $4.97, slightly below market expectations of $5.

The group raised the lower limit of this year's revenue forecast range from $32.5 billion to $32.8 billion, with the upper limit remaining at $33.8 billion, while the market expectation is $33.1 billion; adjusted earnings per share are expected to be between $19.1 and $20.1, compared to the previous forecast of $19 to $20, with the market expecting $19.51.