Net Product Sales Performance
Net product sales increased 14% to $1,388 million and reflect volume growth in the U.S., Europe and Japan. U.S. and international net product sales of $775 million and $613 million increased 11 percent and 19 percent, respectively.
- REVLIMID sales for the third quarter increased 18 percent to $970 million and were driven by overall market share gains, increased duration of therapy and geographic expansion. U.S. sales of $547 million and international sales of $423 million increased 17 percent and 20 percent, respectively.
- ABRAXANE ® sales for the third quarter were $106 million, a 6 percent decrease. U.S. sales of $81 million declined 14 percent. In 2011, sales were positively impacted by generic paclitaxel shortages in the U.S. International sales of $25 million increased 29 percent due to volume growth and distributor purchasing patterns.
- VIDAZA ® third quarter sales increased 15 percent to $220 million. U.S. sales increased 13 percent to $83 million. International sales increased 16 percent to $137 million, driven by gains in market share.
- THALOMID ® sales were $75 million in the third quarter, representing a 10 percent decrease.
Research and Development (R&D)
Adjusted R&D expenses were $328 million for the third quarter compared to $307 million for the third quarter of 2011. The change is primarily due to increased clinical costs associated with advancing the mid- to late-stage pipeline and the absorption of the Avila Therapeutics acquisition which closed in March 2012. On a GAAP basis, R&D expenses were $442 million for the third quarter of 2012 and $357 million for the same period in 2011.Selling, General and Administrative (SG&A) Adjusted SG&A expenses were $323 million for the third quarter of 2012 compared to $276 million for the third quarter of 2011. The change was primarily due to increased ABRAXANE and REVLIMID marketing, in addition to pomalidomide pre-launch activities. On a GAAP basis, SG&A expenses were $355 million for the third quarter of 2012 compared to $303 million for the same period in 2011.