Amgen Inc has registered a net profit growth of 29.6 per cent during the fourth quarter ended December 2013 to US$1,021 million as against $788 million in the corresponding period of last year. Its net sales improved by 13.4 per cent to $5,011 million from $4,421 million. The financial working is not strictly comparable as the company included figures for Onyx Pharmaceuticals, Inc, which was acquired by Amgen during October 2013.

Total product sales increased by 11 per cent for the fourth quarter of 2013 to $4,799 million from $4,337 million in the similar quarter of last year. Global Neulasta sales increased by 10 per cent to  1,098 million from $994 million and that of Enbrel sales moved up by 3 per cent to $1,200 million from $1,161 million. Epogen sales surged by 10 per cent. However, sales of Aranesp declined by 4 per cent to $470 million.

Robert A Bradway, chairman and CEO, said, “Amgen delivered financially and strategically in 2013. We now have ten innovative development programms with registration-enabling data expected by 2016, six biosimilars in development and expanded presence in more than 75 countries. We are excited about our prospects for long term growth.”

For the full year ended December 2013, Amgen's revenues increased by 8.1 per cent to $18,676 million from $17,265 million in the previous year. Its net profit moved up by 16.9 per cent to $5,081 million from $4,345 million and its EPS worked out to $6.75 as against $5.61. Its R&D expenditure increased by 20.8 per cent to $4,083 million from $3,380 million. Its US sales reached at $14,045 million during 2013.

The sales of Neulasta increased by 7 per cent to $4,392 million from $4,092 million in the previous year and that of Neupogen surged by 11 per cent to $1,398 million from $1,260 million. The sales of Enbrel also increased by 7 per cent to $4,551 million from $4,236 million. The sales of Xgeva/Prolia has taken a quantum jump of 45 per cent and touched to $1,763 million from $1,220 million. The sales of Sensipar/Mimpara went up by 15 per cent to $1,089 million from $950 million. However, its sales of Aranesp declined by 6 per cent to $1,911 million from $2,040 million in the previous year.

The company has projected total revenues between $19.2 billion to $19.6 billion and adjusted EPS in the range of $7.90 to $8.20 during full year ended December 2014.  This includes an $800 million incremental operating income contribution due to the end of the Enbrel profit share. The company announced that it has commenced a pivotal study for its biosimilar Avastin (bevacizumab), the third Amgen biosimilar to enter a pivotal trial. Further, enrollment has resumed for its pivotal study for biosimilar Herceptin (trastuzumab). Avastin and Herceptin are products of Genentech/Roche.