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Amgen Reports 5% Rise in Q3 Product Sales After Horizon Therapeutics Acquisition

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Amgen,Horizon Therapeutics,Acquisition

Amgen announces a 5% increase in third-quarter product sales, driven by double-digit volume growth but offset by lower prices. The company also raises its post-acquisition sales forecast and adjusted earnings outlook for 2023.

Watch on - Amgen, which earlier this month acquired Horizon Therapeutics for $27.8 billion, on Tuesday said its third-quarter product sales rose 5% as double-digit volume growth was offset by lower prices.

Wall Street analysts, on average, have forecast 2023 earnings of $18.47 per share on revenue of $28 billion, according to LSEG data. Investors will be keen to see whether Amgen, which has operations around the world, can help boost sales of Horizon's two key products, thyroid eye disease treatment Tepezza and gout drug Krystexxa.

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