Amgen reported non-GAAP EPS for the first three months of 2024 down 1% to $3.96 on Thursday evening, with non-GAAP operating margin down 5.1 points to 43.2% on revenues up 22% to $7.4 billion.

The biotech group saw its product sales rise by 25% in volume terms, boosted by growth of at least 10% for ten products, including Repatha, Tezspire, Evenity, Blincyto and Tavneos.

Amgen now expects adjusted EPS of between $19 and $20.20 and revenues of between $32.5 and $33.8 billion, compared with target ranges of $18.90-20.30 and $32.4-33.8 billion respectively previously.

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