Amgen sees revenue, earnings grow in Q2 2010

Amgen has outlined its business success over the last three months in its latest quarter fiscal report, highlighting year-on-year growth in its earnings and revenue.

Despite challenging business conditions in key markets, the pharmaceutical company was able to achieve a revenue increase of two per cent compared with Q2 2009, rising to $3.8 billion (2.4 billion pounds).

Its earning per share saw a larger increase of seven per cent, while sales of its products in territories other than the US also recorded positive growth.

Therapies which saw improved performance in the last quarter included Epogen, Neulasta, Neupogen and Sensipar, while developmental progress was made with several new drugs.

The cancer treatment denosumab, for example, was granted priority review status by the US Food and Drug Administration last month and is also being considered by authorities in the EU, Australia, Canada and Switzerland.

Kevin Sharer, chairman and chief executive officer of Amgen, added: “We are in the process of launching Prolia worldwide and look forward to working with global regulatory authorities to gain approval for denosumab in patients with advanced cancer.”