Amgen reports strong revenue growth in Q3 2013

Amgen has published its financial report for the third quarter of 2013, during which it achieved double-digit year-on-year revenue growth.

The company's revenue total for the three-month period came to $4.7 billion (2.9 billion pounds), up by ten percent on Q3 2012, with product sales growth driven by strong performances from therapies such as Neulasta, Enbrel, Prolia and Xgeva.

Adjusted earnings per share grew 16 percent to $1.94, with higher revenues and a lower tax rate partially offset by increased research and development investments.

For the full year 2013, the company expects to achieve a revenue total in the range of $18.3 billion to $18.5 billion.

Robert Bradway, chairman and chief executive officer of Amgen, hailed the impact of milestones such as "the acquisition of Onyx Pharmaceuticals in oncology, the opening of our alliances in Japan and China and the repurchase of our rights to Neupogen and Neulasta in key emerging growth markets around the world".

This comes after the company announced the appointment of Greg Garland, chief executive of Phillips 66, to its board of directors earlier this month.