Amgen’s quarterly financial results exceeded expectations, with a 12% increase in product sales and revenue reaching $9.56 billion. Adjusted earnings per share rose to $5.64. Sales of cholesterol-lowering drug Repatha surged by 40%, but arthritis drug Enbrel saw a 30% decline due to pricing changes.

The biotech company expects key data from mid-stage studies on experimental weight-loss drug MariTide by year-end. MariTide is designed to reduce appetite and blood sugar by targeting specific hormones. Operating expenses rose by 18%, with a 31% increase in research and development costs.

Amgen raised its full-year outlook, now expecting adjusted earnings of $20.60 to $21.40 per share on revenue of $35.8 billion to $36.6 billion. Analysts estimated earnings of $21.04 per share on revenue of $35.67 billion for 2025.

Read more at Yahoo Finance: Amgen profit beats estimates, weight-loss data due by year-end