Amgen reported stellar quarterly results, with revenue surging 9% to $9.2 billion—exceeding analyst expectations—and adjusted earnings per share jumping 21% to $6.02. The biotech giant also raised its full-year guidance, projecting revenue between $35-$36 billion and higher EPS estimates. However, shares fell nearly 5% as investor enthusiasm was dampened by concerns over its experimental weight-loss drug, MariTide. Analysts questioned its competitiveness against dominant rivals like Ozempic, casting doubt on Amgen’s ability to capitalize on this high-growth market.
Pipeline Performance Under Scrutiny
While drugs like cholesterol treatment Repatha saw sales soar 31% to $696 million, declining revenue for bone therapy Prolia (-4%) highlighted competitive pressures. Despite heavy R&D investment (up 18%), MariTide remains a key uncertainty, with critical trial data expected later this year. The stock, though up 10% year-to-date, lags behind broader indices, reflecting deeper skepticism about Amgen’s long-term growth strategy amid shifting market dynamics.
