Shares of Amgen Inc. AMGN, +0.64% rose more than 3% in the extended session Monday after the drug maker reported an adjusted quarterly profit above Wall Street expectations and said sales rose in part due to COVID-19 products. Amgen said it earned $1.9 billion, or $3.36 a share, in the quarter, compared with $1.6 billion, or $2.76 a share, in the year-ago quarter. Adjusted for one-time items, Amgen earned $4.36 a share. Sales rose 3% to $6.8 billion, thanks in part to a revenue bump from its collaboration with Eli Lilly & Co. LLY, +0.53% on COVID-19-related products, Amgen said. In addition, volumes grew double-digits for several products such as osteoporosis drug Prolia and high-cholesterol treatment Repatha, Amgen said. Growth in these and other products “combined with our many pipeline opportunities, position us well for long-term growth,” Chief Executive Robert A. Bradway said in a statement. FactSet consensus called for earnings of $4.04 a share on sales of $6.9 billion. Amgen stock ended the regular trading day up 0.6%.
