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Investing.com - Amgen Inc (NASDAQ:AMGN) reported better-than-expected first-quarter results, driven by strong demand for its products globally.
The biotechnology company posted adjusted earnings per share of $4.90, surpassing analyst estimates of $4.29. Revenue rose 9% YoY to $8.15 billion, slightly above the consensus forecast of $8.09 billion.
"Demand for our products was strong globally in the first quarter. Ongoing new product launches and successful Phase 3 trial results for several products make us feel confident in our long-term growth prospects," said Robert A. Bradway, chairman and chief executive officer.
Product sales grew 11%, primarily driven by 14% volume growth, partially offset by 6% lower net selling price. U.S. sales increased 14%.
Fourteen products delivered at least double-digit sales growth in the quarter, including Repatha, BLINCYTO, and TEZSPIRE. The company’s newly launched IMDELLTRA generated $81 million in sales.
For the full year 2025, Amgen said it expects adjusted EPS of $20.00-$21.20, versus the consensus of $20.63, and revenue of $34.3-$35.7 billion, versus the consensus of $35.102 billion.
The company generated $1.0 billion of free cash flow in Q1, up from $0.5 billion in the same period last year.
Amgen’s shares were flat in after-hours trading following the earnings release.