As Amgen revenues soar so does entire biotech group.

Thousand Oaks-based Amgen helped push the biotech industry to record revenues this past year. For the first time, total industry revenues exceeded $60 billion, according to a report by Ernst & Young. Sales rose by a total of 18 percent to reach $63.1 billion, and the industry's net loss fell to $4.3 billion.

Amgen, which is the largest biotechnology company in the world, reported $12.4 billion in sales last year, which is an 18 percent increase from the year before.

"Since our first report 20 years ago, we've seen historic scientific advances and dramatic changes in market conditions combine to produce a rapidly maturing industry," said Donn Szaro, who beads Ernst & Young's global biotechnology and pharmaceutical sectors, in a news release. "Companies from around the globe are pioneering new technologies, platforms, industry segments and business models."

Amgen also reported earlier this month that an exploratory cancer drug stops the progression of colorectal cancer in patients who have seen the cancer spread.

The drug, panitumumab, was given to patients when chemotherapy didn't work, and was found to be better than simply supportive care. Thirty six percent of the patients reported that the cancer was controlled, compared to 10 percent with supportive care.

Amgen developed the drug with Abgenix, a company that it purchased for $2.2 billion.