Amgen posts 9% Q2 sales growth and earnings beat as biotech peers report results

Amgen Q2 earnings Repatha Gilead biotech earnings

Amgen reported second‑quarter sales of $10.1 billion, a 9% increase year over year, and adjusted earnings of $6.29 per share, surpassing analysts' $5.62 estimate. Net earnings per share rose 65% to $4.37. The company raised its full‑year earnings outlook to $22.30‑$23.50 per share on revenue of $38.2‑$39.4 billion and announced the discontinuation of the obesity drug candidate AMG 513.

Gilead Sciences posted an 8% rise in Q2 product sales to $7.8 billion, with overall revenue up 10% and beating Wall Street's $7.4 billion forecast. Adjusted loss per share was $6.75, better than the expected $7.24.

Other biotech firms disclosed their quarterly performance: Geron posted a Q2 loss of $16.7 million but revenue of $57.5 million, driven by its oncology drug RYTELO. Rigel Pharmaceuticals reported $0.88 earnings per share, beating expectations, with commercial revenue of $67 million. Precigen posted a $0.05 EPS beat and revenue of $55.0 million, while TG Therapeutics saw BRIUMVI sales jump 64% to $227.7 million.

Entities: Amgen · Amgen Inc. · Biktarvy · Daniel O’Day · Descovy · Evenity · Gilead Sciences · Repatha · Robert Bradway · TG Therapeutics · Uplizna · Veklury

Claims

What the coverage asserts, and how well corroborated each claim is across sources.

[● 4 SOURCES] Amgen discontinued development of obesity candidate AMG 513. (Reuters)
[● 4 SOURCES] Amgen's net earnings per share increased 65% to $4.37. (d6748728-7438-4d52-b660-c7a6b7622a95,1856f338-7fdc-4a1a-9c21-d4c7c0ef247f,b26c0141-e646-4169-b345-eb8c600559c3,32f45738‑)
[● 4 SOURCES] Amgen's adjusted earnings per share were $6.29, beating expectations of $5.62. (Reuters)
[● 4 SOURCES] Amgen raised its full‑year earnings outlook to $22.30‑$23.50 per share on revenue of $38.2‑$39.4 billion. (d6748728-7438-4d52-b660-c7a6b7622a95,1856f338-7fdc-4a1a-9c21-d4c7c0ef247f,b26c0141-e646-4169-b345-eb8c600559c3,32f45738‑)
[● 4 SOURCES] Quarterly sales of Evenity were $714 million, up 38% YoY. (Reuters)
[● 4 SOURCES] Sales of Uplizna increased 90% to $335 million. (Reuters)
[● 4 SOURCES] Amgen's second-quarter sales rose 9% to $10.1 billion. (d6748728-7438-4d52-b660-c7a6b7622a95,1856f338-7fdc-4a1a-9c21-d4c7c0ef247f,b26c0141-e646-4169-b345-eb8c600559c3,32f45738‑)
[● 4 SOURCES] Quarterly sales of Repatha were $953 million, up 37% YoY. (Reuters)
[● 4 SOURCES] Amgen discontinued development of the obesity candidate AMG 513. (d6748728-7438-4d52-b660-c7a6b7622a95,1856f338-7fdc-4a1a-9c21-d4c7c0ef247f,b26c0141-e646-4169-b345-eb8c600559c3,32f45738‑)
[○ 1 SOURCE] Gilead Sciences' second‑quarter sales rose 8% to $7.8 billion, beating the $7.4 billion estimate. (31d70563-b5b6-45af-9a37-7826e02457d8)
[○ 1 SOURCE] Gilead's adjusted loss per share was $6.75, better than the $7.24 expected. (31d70563-b5b6-45af-9a37-7826e02457d8)
[● 4 SOURCES] Amgen's adjusted earnings per share were $6.29, beating the $5.62 expectation. (d6748728-7438-4d52-b660-c7a6b7622a95,1856f338-7fdc-4a1a-9c21-d4c7c0ef247f,b26c0141-e646-4169-b345-eb8c600559c3,32f45738‑)