Amgen reported strong Q2 2024 financial results, with total revenues increasing 20% year-over-year to $8.4 billion. Product sales grew 20% to $8.0 billion, driven by a 26% increase in volume, partially offset by a 3% decline in net selling price. The acquisition of Horizon Therapeutics contributed $1.1 billion in product sales.Key products showed solid performance, with Prolia sales up 13% to $1.2 billion and Repatha sales rising 25% to $532 million. However, ENBREL sales declined 15% to $909 million due to lower net selling price. Newly acquired products TEPEZZA and KRYSTEXXA generated $479 million and $294 million in sales, respectively.Operating expenses increased 51% to $6.5 billion, primarily due to higher amortization from Horizon acquisition-related assets. Net income decreased 46% to $746 million and diluted EPS fell 46% to $1.38, impacted by acquisition-related costs. Amgen expects continued product sales growth from Horizon products and volume increases from other brands for the remainder of 2024, partially offset by net selling price declines.

Amgen reported strong Q2 2024 financial results, with total revenues increasing 20% year-over-year to $8.4 billion. Product sales grew 20% to $8.0 billion, driven by a 26% increase in volume, partially offset by a 3% decline in net selling price. The acquisition of Horizon Therapeutics contributed $1.1 billion in product sales.Key products showed solid performance, with Prolia sales up 13% to $1.2 billion and Repatha sales rising 25% to $532 million. However, ENBREL sales declined 15% to $909 million due to lower net selling price. Newly acquired products TEPEZZA and KRYSTEXXA generated $479 million and $294 million in sales, respectively.Operating expenses increased 51% to $6.5 billion, primarily due to higher amortization from Horizon acquisition-related assets. Net income decreased 46% to $746 million and diluted EPS fell 46% to $1.38, impacted by acquisition-related costs. Amgen expects continued product sales growth from Horizon products and volume increases from other brands for the remainder of 2024, partially offset by net selling price declines.