Amgen Inc (NASDAQ:AMGN) stock rose 5.96% (As on November 5, 11:10:56 AM UTC-4, Source: Google Finance) after the company  reported quarterly financial results that beat Wall Street expectations, and raised its full-year outlook, as 12% sales growth offset expenses related to experimental weight-loss drug MariTide and a higher tax rate. Amgen said third-quarter sales of cholesterol-lowering drug Repatha rose 40% from a year earlier to $794 million on higher demand. Sales of older arthritis drug Enbrel fell 30% to $580 million due to a 38% price drop driven by changes in the U.S. Medicare health plan for people age 65 and older and hospital purchases at favorable pricing. The company said it expects to have data before year-end from two key mid-stage MariTide studies. One is testing the drug in obese or overweight adults with or without type 2 diabetes, and the second is looking at MariTide as a treatment for type 2 diabetes. Amgen also said it has completed enrollment in two Phase 3 studies for similar patient populations. MariTide is an antibody linked to a pair of peptides that activate receptors for the appetite- and blood sugar-reducing hormone GLP-1 while simultaneously blocking a second gut hormone called GIP. The Company generated $4.2 billion of free cash flow in the third quarter of 2025 versus $3.3 billion in the third quarter of 2024.

AMGN in the third quarter of FY25 has reported the adjusted earnings per share of $5.64, beating the analysts’ estimates for the adjusted earnings per share of $5.01. The company had reported the adjusted revenue growth of 35.9 percent to $9.56 billion in the third quarter of FY25, beating the analysts’ estimates for revenue of $8.97 billion, according to LSEG data. This is driven by 14% volume growth, partially offset by 4% lower net selling price. Sixteen products delivered at least double-digit sales growth in the third quarter, including Repatha (evolocumab), EVENITY (romosozumab-aqqg), IMDELLTRA (tarlatamab-dlle)/IMDYLLTRA (tarlatamab), TEZSPIRE (tezepelumab-ekko), TEPEZZA (teprotumumab-trbw), BLINCYTO® (blinatumomab), UPLIZNA (inebilizumab-cdon) and TAVNEOS (avacopan). Adjusted third-quarter operating expenses rose 18% from a year earlier, while research and development costs jumped 31%. Amgen said its tax rate increased 4.8 percentage points due to a change in product mix.

For the full year, Amgen raised its outlook for adjusted earnings and now expects $20.60 to $21.40 per share on revenue of $35.8 billion to $36.6 billion. It had previously forecast earnings of $20.20 to $21.30 per share on revenue of $35 billion to $36 billion. Analysts, on average, have estimated 2025 earnings of $21.04 per share on revenue of $35.67 billion.