This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Celgene Reports Third Quarter 2012 Operating And Financial Results

Stocks in this article: CELG

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.

2 of 7

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,387.21 -291.49 -1.65%
S&P 500 2,029.55 -27.54 -1.34%
NASDAQ 4,681.4970 -90.2660 -1.89%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs