Amgen highlights importance of innovation in future strategy

Amgen has provided analysts and investors with a report on its current strategic direction, highlighting the importance of innovation and efficiency to its future success.

The company has identified new pipeline developments and biosimilar research as key drivers of growth, with pivotal data from eight late-stage programmes expected to be published between 2013 and 2016.

To maximise its potential, Amgen will be taking a more selective "pick the winners" approach to its research and development efforts, while its commercial model will be broadened to take full advantage of emerging market opportunities.

Moreover, there will be an increased emphasis on new manufacturing processes and technologies to maximise production efficiency.

Robert Bradway, chairman and chief executive officer at Amgen, said: "Amgen is in a unique position to capitalise on major advances in drug discovery and biologics manufacturing. We are making strategic investments to drive long-term growth and deliver for both patients and shareholders."

According to Amgen's 2012 financial report, released last month, the company experienced an 11 percent annual revenue growth last year.