Amgen reported robust financial results on Tuesday, surpassing Wall Street expectations with a 12% increase in product sales. This impressive growth helped counterbalance rising operating expenses tied to the experimental weight-loss drug MariTide and a higher tax rate.

The biotechnology firm's revenue for the third quarter increased by 12% from the same period last year, reaching $9.56 billion. Adjusted earnings per share saw a modest rise of 1%, amounting to $5.64, exceeding analysts' expectations of a $5.01 profit per share on $8.97 billion in revenue, as gathered by LSEG data.

Amgen highlighted a 40% increase in the sales of its cholesterol-lowering drug Repatha, totaling $794 million, owing to increased demand. Alternatively, Enbrel, an arthritis medication, saw a 30% decrease in sa

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