NEW YORK (CNNMoney.com) - The worldwide biotech industry is bigger than ever, with revenues exceeding $60 billion for the first time in the industry's 30-year history, according to a report released Tuesday.

Biotech sales surged 18 percent in 2005 to $63.1 billion, a record high, according to the financial firm Ernst & Young. In that same year, the industry's net loss plunged 30 percent, to $4.3 billion.

Biotechs managed to raise $19.7 billion in capital last year, marking its second-highest tally since the 2000 bubble.

Also, biotechs managed to get new 32 drugs approved by the Food and Drug Administration.

"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, leader of Ernst & Young's global biotechnology and pharmaceutical sectors, in a prepared statement. "Companies from around the globe are pioneering new technologies, platforms, industry segments and business models."

Amgen (up $0.26 to $72.14, Research), based in Thousand Oaks, Calif., is the world's largest biotech, with $12.4 billion in 2005 sales, up 18 percent from the year before. Genentech (down $0.59 to $82.15, Research), based in South San Francisco, is the second-biggest biotech, with $5.5 billion in 2005 sales, up 46 percent.

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