By Deena Beasley

(Reuters) -Amgen on Tuesday reported quarterly financial results that beat Wall Street expectations, and raised its full-year outlook, as 12% sales growth offset expenses related to experimental weight-loss drug MariTide and a higher tax rate.

The California-based biotech company’s third-quarter revenue also rose 12% from a year earlier to $9.56 billion, which was ahead of analysts’ estimates of $8.97 billion, according to LSEG data. Adjusted earnings per share increased 1% to $5.64, compared with the average analyst forecast of $5.01.

The results represent “a decent beat and raise,” with multiple products showing higher sales, Mizuho analyst Salim Sayed said in a research note, while noting that some of the sales gains were attributed to accounting changes.

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