Amgen’s revenue increased 20% year-over-year, totaling $8.4 billion in Q2.

The California-based pharma giant released its latest quarterly earnings report on Tuesday afternoon after the markets closed.

Amgen benefited from considerable topline growth, with product sales up 20% and volume growth up 26%. The company noted that when its sales from recently-acquired Horizon Therapeutics were excluded, product sales grew 5% and volume growth amounted to 10%.

Horizon’s rare disease products – including the likes of Tepezza, Krystexxa and Uplizna – generated $1.1 billion in sales during the reporting period.

The drugmaker’s product line also demonstrated widespread depth, with a dozen products generating double-digit sales growth each. 

These include Tezspire, Evenity, Prolia and Repatha. Notably, Prolia’s sales hit $1.2 billion, while Repatha topped $530 million in sales. 

Amgen’s non-GAAP operating income rose from $3.5 billion to $3.9 billion, though its net income dropped from $1.3 billion to $746 million.

Despite the topline growth, Amgen’s GAAP earnings per share (EPS) fell 46% year-over-year to $1.38. The company attributed this to higher operating expenses related to the Horizon deal. Meanwhile, its non-GAAP EPS slid only 1% from $5 to $4.97.

The total revenue and non-GAAP EPS numbers topped analyst expectations and Amgen subsequently updated its financial outlook for the rest of the year.

Amgen now projects total revenues in the range of $32.8 billion to $33.8 billion, changed from a previous guidance range between $32.5 billion to $33.8 billion. The company also placed its non-GAAP EPS in the range of $19.10 to $20.10, narrowed from its previous range between $19 to $20.20.

“With a strong, balanced portfolio of in-market products and a rapidly advancing pipeline of innovative medicines, we are confident in our ability to deliver attractive long-term growth,” Amgen CEO Robert A. Bradway said in a statement.

While the drugmaker was quiet on the dealmaking front in Q2, it provided a couple of regulatory updates.

In late May, the Food and Drug Administration approved Amgen’s Bkemv (eculizumab-aeeb) as the first interchangeable biosimilar to Soliris (eculizumab) for the treatment of specific rare diseases.

In early June, Amgen said its drug to treat patients with an immune system-related condition has met the main goal of a late-stage study.

More recently, Amgen said it stopped development of a Phase 1 bispecific T cell engager.