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Amgen raised its full-year sales and adjusted profit outlook Tuesday after third-quarter revenue climbed 8% to $10.4 billion, with cholesterol treatment Repatha and newer medicines offsetting a sharp fall in osteoporosis drug Prolia. Adjusted earnings rose 14% to $6.45 a share.
Both headline figures exceeded analyst expectations: revenue was above the $10.1 billion estimate and adjusted earnings topped the $5.79 forecast, according to LSEG data cited by Reuters. The earnings comparison is on an adjusted basis, not GAAP earnings.
Amgen shares nevertheless fell more than 2% to about $450 in after-hours trading, Reuters reported in its Tuesday account, updated at 5 p.m. That is the price reaction reported by the news agency, not a current live quote.
Repatha and newer treatments offset Prolia’s decline
Prolia sales dropped 45% to $632 million as patent expirations brought increased competition, Reuters reported. That missed the $697 million analyst forecast and showed how quickly an established drug’s revenue can erode as rivals enter the market.
Repatha sales rose 37% to $1.09 billion, according to Amgen’s quarterly release. Reuters said that was slightly above the $1.04 billion analysts expected. The cholesterol medicine remained a major source of growth as some older products weakened.
Uplizna sales increased 191% to $451 million, while lung-cancer treatment Imdelltra rose 128% to $406 million. Those newer growth drivers helped support the overall sales increase despite Prolia’s decline.
Amgen now expects 2026 adjusted earnings of $22.90 to $23.70 a share, up from $22.30 to $23.50. It raised its revenue outlook to $38.9 billion to $39.7 billion from $38.2 billion to $39.4 billion. These are management forecasts, not guaranteed results.
MariTide data and Tavneos review remain ahead
The company is also advancing MariTide, its experimental weight-loss medicine. Initial results from its broad Phase 3 trial program are not expected until next year, Reuters reported. Trial progress and expected data are not regulatory approval, and MariTide remains investigational.
Amgen’s release describes ongoing studies in obesity and related conditions, including cardiovascular disease, heart failure and obstructive sleep apnea. The program also includes studies of less-frequent dosing, but the clinical work still has to establish how the medicine performs.
Another unresolved issue is Tavneos, whose quarterly sales fell 2% to $105 million. Reuters reported that the Food and Drug Administration proposed withdrawing the medicine in April, citing concerns about effectiveness and the integrity of trial data. A proposed withdrawal is not a completed withdrawal.
Amgen said it continues to engage with the FDA and believes Tavneos demonstrates clinical effectiveness and a favorable benefit-risk profile. That is the company’s position in an ongoing regulatory dispute, rather than a resolution of the agency’s concerns.
The quarter shows growth from Repatha and newer medicines translating into a higher annual forecast. Investors are also weighing the decline in older products and the clinical and regulatory decisions still ahead, including next year’s MariTide results.
JBizNews Desk | Thousand Oaks
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