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Financial Report: Celgene

Revenues up 28% in the quarter

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By: Kristin Brooks

Managing Editor, Contract Pharma

Celgene

3Q Revenues: $3.0 billion (+28%)

3Q Earnings: $171.4 million (loss of $34.1 million 3Q15)

YTD Revenues: $8.2 billion (+23%)

YTD Earnings: $1.6 billion (+51%)

Comments: REVLIMID sales in the quarter were up 30% to $1.9 billion, driven by new patient market share gains. POMALYST/IMNOVID sales were $341 million, up 33%. OTEZLA sales were $275 million, a 98% increase, driven by market share gains and increased prescriber adoption. ABRAXANE sales were $233 million, up 1%. R&D expenses were $1.7 billion in the quarter, compared to $1.3 billion for the same period in 2015, primarily driven by a $623.3 million asset acquisition expense associated with the purchase of EngMab AG and an increase in early research and clinical trial activity, partially offset by decreases in expenses related to collaboration-related upfront expenses. Loss in 3Q15 reflected costs related to strategic transactions including the collaboration with Juno Therapeutics and the acquisition of Receptos.

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