Increased Payments Lift Amgen Quarterly Revenue

Amgen, a Thousand Oaks biotechnology company, said its earnings more than doubled to $488,000, or 3 cents a share, in the fourth quarter that ended March 31. Revenue rose 37% to $14.6 million.

For the year, earnings rose 52% to $1.7 million, or 10 cents a share, with revenue climbing 54% to $53.3 million. Most of Amgen’s revenue comes in the form of payments from companies that are partners in developing drugs expected to become available commercially.