Amgen Stock Jumps on Earnings Beat, Guidance Boost

Shares of Amgen were falling Tuesday after the biotechnology company easily beat quarterly earnings estimates and lifted revenue guidance.

Third-quarter sales of inflammation drug Amjevita/Amgevita rose 30% year-over-year, bolstered by 53% volume growth, partially offset by lower prices, according to the release, while sales of Prolia, one of Amgen’s general medicine treatments, jumped 14% from a year ago, boosted by a 7% uptick in volume and higher prices.

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