Amgen Raises Outlook After 3Q Profit, Sales Rise
By Katherine Hamilton
Amgen raised its outlook after logging higher profit and sales in the third quarter.
The biotech company now expects revenue for the year of $38.9 billion to $39.7 billion, up from its previous guidance of $38.2 billion to $39.4 billion.
It also raised its projection for adjusted earnings per share to $22.90 to $23.70, up from $22.30 to $23.50.
In the third quarter, profit rose to $3.86 billion, or $7.08 a share, compared with $3.22 billion, or $5.93 a share, a year earlier.
Stripping out certain one-time items, adjusted per-share earnings were $6.45, ahead of the $5.79 anticipated by analysts, according to FactSet.
Revenue rose 8% to $10.37 billion. Analysts surveyed by FactSet forecast revenue of $10.07 billion.
Product sales rose 8%, driven by volume growth. Leading sales was the cholesterol reduction treatment Repatha, which generated $1.09 billion of revenue, up 37% year over year. Sales of the osteoporosis treatment Evenity climbed 39% to $751 million.
At the same time, biosimilar drugs cut into revenue for certain products. New biosimilar products weighed on volumes for the bone-health drugs Prolia and Xgeva, which saw sales decline 45% and 47%, respectively.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
November 03, 2026 16:17 ET (21:17 GMT)
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