Prolia's Q2 revenue falls 32%... Amgen to release Q3 earnings on the 4th

Amgen's Q2 total revenue rose 10% year-over-year to $10.054 billion, but sales of bone drugs Prolia and Xgeva fell 32% and 34%, respectively, and the company will report Q3 results after market close on November 3. Product sales grew 9% to $9.537 billion, while GAAP EPS jumped 65% and adjusted EPS rose 4%. Prolia Q2 sales dropped 32% to $759 million, driven by a 20% decline in sales volume and a 12% drop in net selling price. Xgeva sales fell 34% to $352 million, with volume and price declines also weighing on results. The divergence between overall growth and weakness in these key bone-health franchises matters because it signals biosimilar and pricing pressure on two of Amgen's top sellers. Investors will watch the Q3 print for whether Prolia and Xgeva erosion accelerates and how the rest of the portfolio offsets the drag.