Amgen third-quarter sales rise 5%; profit up before charge

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. Amgen said it would discuss sales of Horizon's drugs on a conference call with analysts and investors, but raised its post-acquisition forecast for full-year sales to between $28 billion and $28.4 billion from a previous estimate of $26.6 billion to $27.4 billion. Wall Street analysts, on average, have forecast 2023 earnings of $18.47 per share on revenue of $28 billion, according to LSEG data.