Amgen ranked largest biotech company by worldwide revenue

In a recently released report by ModernHealthcare.com, the Calif.-based Amgen was ranked the largest biotechnology company by worldwide revenue.

Amgen is the world's largest independent biotechnology firm with 12 approved drugs or therapeutic biologicals for 17 conditions, including Enbrel to treat anemia, Aranesp for arthritis and Procrit for anemia.

Amgen's revenue rose from $16,442 million in 2012 to $17,660 million in 2013, surpassing the second ranked Weston, Mass.-based Biogen Idec's $5,942 million revenue.

Biogen Idec's main products include its multiple sclerosis treatments Avonex and Tysabri, as well as Rituxan, which is used as a non-Hodgkin's lymphoma treatment.

Celgene Corp., Life Technologies Corp. and Regeneron Pharmaceuticals rounded out the top five.

The top 10 also included Alexion Pharmaceuticals, Vertex Pharmaceuticals, United Therapeutics Corp., Cubist Pharmaceuticals and BioMarin Pharmaceutical, respectively.

The state of Massachusetts had the most companies on the list at three - Biogen, Vertex and Cubist - while Maryland placed two on the list - United Therapeutics and Emergent BioSolutions, which was ranked 16th.