THOUSAND OAKS, Calif. , Oct. 30, 2024 /PRNewswire/ -- Amgen (NASDAQ: AMGN ) today announced financial results for the third quarter of 2024.
"Strong growth in sales and earnings this quarter reflects the momentum we're building throughout our business. We continue to invest heavily in our rapidly advancing pipeline, with a focus on delivering innovative therapies across our core therapeutic areas," said Robert A. Bradway , chairman and chief executive officer.
Key results include: For the third quarter, total revenues increased 23% to $8.5 billion in comparison to the third quarter of 2023. Product sales grew 24%, driven by 29% volume growth, partially offset by 2% lower net selling price.
Excluding sales from our Horizon Therapeutics (Horizon) acquisition, product sales grew 8%, driven by volume growth of 12%. Ten products delivered at least double-digit sales growth in the third quarter, including Repatha ® (evolocumab), TEZSPIRE ® (tezepelumab-ekko), BLINCYTO ® (blinatumomab), EVENITY ® (romosozumab-aqqg), and TAVNEOS ® (avacopan). Our performance included $1.
2 billion of sales from our rare disease products, driven by several first-in-class, early-in-lifecycle medicines, including TEPEZZA ® (teprotumumab-trbw), KRYSTEXXA ® (pegloticase), UPLIZNA ® (inebilizumab-cdon), and TAVNEOS ® (avacopan). GAAP earnings per share (EPS) increased 62% from $3.22 to $5.
22 , driven by mark-to-market gains on our BeiGene, Ltd. (BeiGene) equity investment and higher revenues, parti.