A powerful combination of unexpectedly robust quarterly earnings and groundbreaking clinical trial results has positioned biotechnology leader Amgen for a significant resurgence. The company not only upgraded its financial guidance but also revealed that an established cardiovascular treatment could become its next major growth driver. Investors are now assessing whether this dual momentum can be sustained.
Cardiovascular Breakthrough Steals Spotlight
Friday brought transformative news for Amgen’s cholesterol medication Repatha. Detailed results from the Phase 3 VESALIUS-CV trial demonstrated that the drug reduced the risk of major cardiovascular events by 25% in high-risk patients who had not previously experienced a heart attack or stroke.
This development establishes Repatha as the first and only PCSK9 inhibitor with proven benefits in primary prevention. Simultaneously, Amgen launched “AmgenNow,” a direct-to-patient platform in the United States designed to simplify access to the therapy.
Quarterly Performance Exceeds Projections
Amgen’s third-quarter 2025 results substantially outperformed analyst expectations across key metrics. Revenue climbed 12% to $9.6 billion, surpassing market projections of approximately $8.9 billion. The growth was primarily driven by a 14% increase in product volume that more than compensated for price adjustments.
Earnings performance proved even more impressive, with adjusted earnings per share reaching $5.64—significantly above the anticipated range of $5.01 to $5.04.
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Several products demonstrated exceptional growth trajectories:
– Repatha (cholesterol management): +40%
– EVENITY (osteoporosis treatment): +36%
– TEZSPIRE (asthma therapy): +40%
Revised Guidance and Pipeline Setbacks
Despite the positive developments, Amgen faced challenges in its oncology pipeline. The company discontinued the FORTITUDE-102 study for gastric cancer due to insufficient efficacy, representing a notable disappointment in its cancer research portfolio.
Nevertheless, management expressed confidence by substantially raising full-year expectations:
– Revenue forecast: $35.8-36.6 billion (previously $35.0-36.0 billion)
– Earnings per share projection: $20.60-21.40 (previously $20.20-21.30)
Market Analysts Maintain Cautious Stance
Financial experts remain cautiously optimistic despite the strong results. While Leerink Partners increased its earnings estimates, William Blair reduced projections for the fourth quarter. The consensus rating remains at “Hold,” indicating that markets require further evidence of sustainable growth.
The upcoming FDA decision on Uplizna for myasthenia gravis on December 14 represents the next significant catalyst. This regulatory milestone will help determine whether Amgen can maintain its recent upward trajectory or if the dual catalysts of quarterly outperformance and clinical success will deliver lasting impact.
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