Amgen's Q2 Earnings Beat and Revenue Growth Outpace 122nd Volume Rank and Biosimilar Challenges

Amgen (AMGN) closed on August 5, 2025, with a 0.62% decline, trading at a daily volume of $0.8 billion, ranking 122nd in market activity. The biotech giant reported Q2 earnings of $6.02 per share, surpassing the $5.26 consensus estimate, with adjusted revenue rising 9.4% to $9.18 billion. Despite strong performance from Uplizna and Tepezza, Prolia sales fell 4% due to pricing pressures and biosimilar competition. The company raised 2025 guidance to $20.20–$21.30 per share and $35–36 billion in revenue, reflecting optimism amid mixed product trends.

The earnings beat was driven by double-digit growth in 15 products, including Uplizna (up 91%) and Tepezza (up 5%), though Enbrel’s 34% revenue drop highlighted ongoing challenges in its core portfolio. Management emphasized cost pressures from U.S. biosimilars and Medicare policy shifts as headwinds for the remainder of the year. Analysts noted the Zacks Rank #3 (Hold) rating aligns with the stock’s neutral outlook, as earnings estimate revisions remain mixed. Year-to-date, AMGN has gained 15.9%, outpacing the S&P 500’s 7.6% rise.

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