Amgen Inc (NASDAQ:AMGN) stock rose 7.14% (As on February 4, 11:31:17 AM UTC-4, Source: Google Finance) after the company reported fourth-quarter financial results that came in ahead of Wall Street expectations, driven by a 7% ​increase in drug sales and a lower tax rate. Fourth-quarter product sales ‍rose 10% by volume, while net prices fell 4%, resulting in 7% quarter-over-quarter growth. Sales of cholesterol drug Repatha jumped 44% to $870 million, beating the average analyst estimate of $793 million, ​driven by higher volumes and price. Amgen said it expects the drug’s ‌2026 net price to decline by a percentage in the mid-single digits. Sales of eye disease drug Tepezza fell 1% in the quarter to $457 million, missing analyst expectations of $554 million.

Moreover, Amgen said sales of arthritis drug Enbrel fell 48% to $532 million, due mostly to lower prices it pays for the U.S. government’s Medicare health ⁠plan. Analysts had expected Enbrel sales of $679 million. The ​company said its tax rate was 7.8 ​percentage points lower than the year-earlier quarter due to adjustments in U.S. tax on foreign subsidiaries. Amgen is currently conducting six Phase 3 ‍trials of experimental ⁠drug MariTide across obesity and related conditions including heart disease and sleep apnea. It plans to begin Phase 3 studies of the drug for ⁠diabetes patients this year. The company said it is also enrolling obese adults into a Phase ‌1 trial of another weight-loss drug candidate, AMG513. Meanwhile, Competitive pressure from Merck’s upcoming oral PCSK9 inhibitor Enlicitide, expected to launch in 2026, poses a threat to Amgen’s Repatha, a key cardiovascular franchise. Amgen also recently acquired Dark Blue Therapeutics for up to $840 million, bolstering its oncology pipeline with therapies targeting acute myeloid leukemia.

AMGN in the fourth quarter of FY25 has reported the adjusted earnings per share of $5.29, beating the analysts’ estimates for the adjusted earnings per share of $4.76, according to the Zacks Consensus Estimate. The company had reported the adjusted revenue growth of 8.7 percent to $9.87 billion in the fourth quarter of FY25, missing the analysts’ estimates for revenue by 4.23%.

For 2026, Amgen said it expects adjusted earnings per share of $21.60 to $23.00, while Wall Street is estimating $22.09 ⁠per share. The company forecast ‌revenue for the year of $37 billion to $38.4 billion, with a midpoint well ahead of analysts’ forecast of $37.1 billion.