Amgen reports double-digit growth in Q1 2016

Amgen has announced strong double-digit sales growth during the first quarter of 2016, thanks to robust demand for key products.

The company's total revenues increased by ten percent year on year to $5.53 billion (3.79 billion pounds), with seven percent product sales growth driven by Enbrel, Prolia, Aranesp, Neulasta, Kyprolis and Xgeva.

Its adjusted earnings per share, meanwhile, grew 17 percent compared to the first quarter of 2015 to $2.90, driven by its higher revenues and operating margins.

As such, the company now expects total revenues in the range of $22.2 billion to $22.6 billion for the full year, up from its previous forecast of $22.0 billion to $22.5 billion.

In the coming months, Amgen expects to make further progress on the development of new therapies such as Repatha, Blincyto, Imlygic, romosozumab and AMG 334.

Robert Bradway, chairman and chief executive officer of Amgen, said: "We are off to a strong start in 2016, delivering results for the year and laying groundwork for our long-term growth with innovative new product launches globally."