Amgen reports double-digit growth in second quarter

Amgen has reported strong double-digit growth during the second quarter of 2012, with revenues increasing by 13 percent during the period.

The company generated revenue of $4.48 billion (2.88 billion pounds) over the quarter, with product sales growth of eight percent driven by strong performance across its portfolio.

During the quarter, the firm modified its agreement with Takeda to grant exclusive worldwide development rights for motesanib, recognising income of $206 million in other revenues, while also completing four phase II studies for the new drug AMG 145.

Products that saw increased sales during Q2 2012 include Neulasta, Enbrel, Xgeva and Prolia, while Sensipar/Mimpara, Vectibix and Nplate are all in the growth phase of their commercial life cycles.

Bob Bradway, chief executive officer at Amgen, said: "I am excited about the growth opportunities in our research and development pipeline, particularly our biologic AMG 145 for hypercholesterolemia."

Last month, the company paid a milestone fee to its developmental partner Array BioPharma, based on the developmental progress of the diabetes drug AMG 151.