Amgen reports strong growth in 2013 business year

Amgen has announced its financial results for the 2013 fiscal year, during which it experienced year-on-year growth of eight percent.

The company's total revenue for the period came to $18.7 billion (11.36 billion pounds), while its adjusted earnings per share total for the quarter rose by 17 percent during the same timeframe to $7.60. The growth rate was bolstered by the acquisition of Onyx Pharmaceuticals in October 2013.

Products such as Neulasta, Enbrel, Epogen, Sensipar, Vectibix, Nplate, Xgeva and Prolia all saw improved sales, while free cash flow for the year was $5.6 billion, compared to $5.2 billion in 2012.

The strong performance of Amgen's portfolio and its encouraging future prospects has led the firm to predict a 2014 revenue total of $19.2 billion to $19.6 billion.

Robert Bradway, chairman and chief executive officer, said: "We now have ten innovative development programs with registration-enabling data expected by 2016, six biosimilars in development and expanded presence in more than 75 countries."

This comes after the firm's chief financial officer Jonathan Peacock stepped down from his position earlier this month. He will remain with the company until May, by which time a permanent succesor will have been appointed.