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Celgene Reports Strong Third Quarter 2013 Operating And Financial Results

Stocks in this article: CELG

Net Product Sales Performance

  • REVLIMID ® sales for the third quarter increased 12 percent to $1,090 million and were driven by increased duration of therapy and overall market share gains. U.S. sales of $633 million and international sales of $457 million increased 16 percent and 8 percent, respectively.
  • ABRAXANE ® sales for the third quarter were $170 million, a 60 percent increase. U.S. sales of $132 million and international sales of $38 million increased 64 percent and 47 percent, respectively. The increase in U.S. sales was primarily driven by use in non-small cell lung cancer and new patient starts in pancreatic cancer.
  • VIDAZA ® third quarter sales were $220 million, flat compared to the same period in 2012. U.S. sales decreased 6 percent to $77 million and were impacted by the introduction of a generic to the market in September. International sales increased 4 percent to $143 million. VIDAZA ® has orphan drug exclusivity in Europe until 2018 and in Japan until 2019.
  • POMALYST ®/IMNOVID ® third quarter sales were $90 million, a 35 percent increase over the second quarter of 2013. U.S. sales were $77 million, a 33 percent increase over the second quarter of 2013. The Company received U.S. Food and Drug Administration (FDA) approval for pomalidomide under the trade name POMALYST ® in February 2013. International sales for the third quarter were $13 million. The European Commission (EC) approval for pomalidomide was granted on August 5; the trade name is IMNOVID ®.
  • THALOMID ® sales were $60 million in the third quarter.

Research and Development (R&D)

Adjusted R&D expenses were $372 million compared to $328 million for the third quarter of 2012. The increase in R&D expenses was primarily due to increased investment in clinical trials. On a GAAP basis, R&D expenses were $585 million for the third quarter of 2013 and $442 million for the same period in 2012. GAAP R&D expenses increased primarily due to higher upfront payments for collaborations.

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