Shares of Amgen popped nearly 2 percent in after-hours trade after the biotech company beat on its third-quarter earnings.
The company reported quarterly earnings per share of $2.72 on revenue of $5.72 billion. Wall Street had expected the company to post earnings of $2.38 per share on $5.328 billion in revenue, according to consensus estimates from Thomson Reuters.
Amgen's profit was driven in part by a 30 percent spike in sales of the blockbuster rheumatoid arthritis drug Enbrel due to price increases and inventory stocking.
The world's largest biotechnology company raised its full-year earnings forecast, primarily to account for the strong third quarter results, and issued its first projection for 2016 adjusted earnings that falls short of current Wall Street estimates. However, Amgen typically raises its forecasts over the course of the year.
— Reuters contributed to this report.