Amgen(US:AMGN) Prnewswire·2025-08-05 20:01Core Insights - Amgen reported strong financial performance for Q2 2025, with total revenues increasing by 9% to $9.2 billion compared to Q2 2024, driven by a 13% volume growth in product sales, despite a 3% decrease in net selling price [5][20] - The company continues to focus on innovative medicines and biosimilars, aiming for sustainable long-term growth [2] Financial Performance - Total revenues for Q2 2025 reached $9.2 billion, a 9% increase from Q2 2024 [5] - GAAP earnings per share (EPS) rose 92% from $1.38 to $2.65, while non-GAAP EPS increased 21% from $4.97 to $6.02 [5][16] - GAAP operating income increased from $1.9 billion to $2.7 billion, with an operating margin of 30.3%, up 6.6 percentage points [5][15] - Free cash flow for Q2 2025 was $1.9 billion, down from $2.2 billion in Q2 2024, influenced by deferred tax payments and higher capital expenditures [20] Product Sales Performance - Product sales grew by 9%, with 15 products achieving double-digit sales growth, including Repatha® (31% increase), EVENITY® (32% increase), and UPLIZNA® (91% increase) [5][6] - Prolia® sales decreased by 4% year-over-year to $1.1 billion, attributed to lower net selling prices [6][12] - TEZSPIRE® sales increased by 46% year-over-year to $342 million, driven by volume growth [12][13] Operating Expenses and Margins - Total operating expenses increased by 1% year-over-year, with R&D expenses rising by 21% due to investments in clinical programs [14][15] - The operating margin on a non-GAAP basis increased to 48.9%, reflecting improved operational efficiency [15][19] Cash Flow and Balance Sheet - Operating cash flow for Q2 2025 was $2.3 billion, down from $2.5 billion in Q2 2024 [18] - Cash and cash equivalents totaled $8.0 billion, while debt outstanding was $56.2 billion as of June 30, 2025 [20] Guidance - For the full year 2025, Amgen expects total revenues to be in the range of $35.0 billion to $36.0 billion [18]