(Update 9:45 a.m.): Updated with conference call information and stock price.
Celgene reported a year-over-year increase in net profit to $597.8 million, or 72 cents a share, from $478.1 million, or 56 cents a share. Profit excluding items was 90 cents a share, which edged the consensus estimate of 89 cents a share by a penny. Total revenue rose 17% to $1.87 billion from $1.599 billion in the same period one year earlier.
Sales of Celgene's signature cancer drug, Revlimid, drove a 25% increase in quarterly profit. Sales of Revlimid, which treats multiple myeloma, rose 15% to $1.21 billion. Celgene said on its conference call that growth in the multiple myeloma treatment market aided Revlimid's sales growth.
Abraxane sales rose 39% to $215 million, while Otezla, a psoriatic arthritis drug Celgene launched in April, totaled $5 million in sales for the quarter. More than 1,000 physicians have already prescribed Otezla, according to Celgene's conference call.
Sales of Pomalyst/Imnovid rose 143% to $161 million, which included a 21% increase internationally. Celgene said on its conference call this growth came almost exclusively from Europe. Vidaza sales decreased 28% to $152 million.
Celgene increased its full-year EPS guidance to a range of $3.60 to $3.65 from a range of $3.50 to $3.60, though this is still short of the consensus estimate of $3.67. The biotech company now expects full-year revenue of $7.6 billion, compared to its previous forecast of $7.5 billion. Analysts expect $7.54 billion.