Amgen’s quarterly profit slid 1% but its revenue jumped 22%, according to its latest earnings report released Thursday afternoon.

For the quarter, Amgen recorded $7.4 billion in revenue, thanks largely to 22% growth in product sales and 25% growth in volume. Amgen’s non-GAAP earnings per share (EPS) fell 1% of $3.96 but still topped Wall Street estimates of $3.89.

Among its product offerings, Prolia brought in nearly $1 billion in sales, Repatha sales increased 33% to $517 million and sales of Evenity jumped 35% to $342 million.

Blincyto and Vectibix both had quarterly sales exceeding $240 million, while Tezspire’s sales increased 80% to $173 million. Otezla had sales of $394 million, up 1% compared to Q1 2023, and Enbrel had sales of $567 million, representing a 2% decline.

Horizon Therapeutics, which Amgen bought last year for around $28 billion, contributed $914 million in sales. Thyroid eye disease drug Tepezza generated $424 million in sales, uncontrolled gout medication Krystexxa brought in $235 million and Uplizna, a biologic for neuromyelitis optica spectrum disorder, had sales of $80 million. 

Even without Horizon, Amgen’s product sales grew 6% and its volume growth was 9%.

Importantly, Amgen also gave an update on its Phase 2 study of MariTide (maridebart cafraglutide, AMG 133).

The study of its effects in adults with overweight or obesity with or without type 2 diabetes is still ongoing, with topline data set to be released later this year but its plans for a Phase 3 clinical trial is on track. The company added that its Phase 1 study of AMG 786, a small molecule obesity program, is complete.

“With many of our innovative products delivering strong growth and promising new medicines advancing through our pipeline, we are excited about delivering attractive long-term growth,” Amgen CEO Robert Bradway said in a statement. 

During the quarter, Amgen disclosed that Bradway received $22.6 million in total compensation in 2023, up slightly from the $21.4 million he took home in 2022. 

He received a base salary of $1.78 million, stock awards of $11.1 million, $4.7 million in option awards, $4.7 million in his non-equity incentive plan and $680,456 in all other compensation.

For the full year, Amgen stated that its total revenue range is between $32.5 billion to $33.8 billion, along with a non-GAAP EPS between $19 to $20.20.

Looking to a post-merger future, Amgen is readying its rare disease pipeline for growth opportunities and believes these drugs will bolster its three other key pillars: general medicine, oncology and inflammation.

Amgen also unveiled a $474 million manufacturing facility in Ohio during the quarter.