Amgen Soars: Q3 Profit Beats Forecasts, Key Weight-Loss Drug Data Set for Year-End Release

Amgen delivered strong financial results, beating Wall Street expectations for the third quarter. Product sales increased by 12% year-over-year. The biotech company’s revenue reached $9.56 billion. Adjusted earnings per share hit $5.64. Analysts had predicted lower figures for both.

The company raised its full-year financial outlook. This optimism comes despite higher costs for developing its pipeline. Strong sales of its cholesterol-lowering drug, Repatha, drove the growth. Repatha sales jumped 40% from a year ago due to higher demand. However, sales of the older arthritis drug Enbrel dropped 30%. This loss was due to price decreases from changes in the U.S. Medicare program.

Amgen’s experimental weight-loss drug, MariTide, is a major focus. The company will release data from two important mid-stage studies before the year ends. These studies test MariTide in adults who are overweight or obese.

They also test the drug in patients with type 2 diabetes. Amgen has also begun enrolling patients in two late-stage (Phase 3) trials. MariTide is a unique treatment. It activates appetite and blood sugar-reducing receptors, positioning it as a key competitor in the growing obesity drug market.