Celgene (CELG) Tops Q3 EPS by 2c

Celgene (NASDAQ: CELG) reported Q3 EPS of $0.97, $0.02 better than the analyst estimate of $0.95. Revenue for the quarter came in at $1.96 billion versus the consensus estimate of $1.96 billion.

Net Product Sales Performance

• REVLIMID® sales for the third quarter increased 19 percent to $1,300 million and were driven by volume in both the U.S. and International markets as a result of increased duration of therapy and continued market share leadership in multiple myeloma. U.S. sales of $760 million and International sales of $540 million increased 20 percent and 18 percent, respectively.
• ABRAXANE® sales for the third quarter were $212 million, a 25 percent increase. U.S. sales of $151 million and International sales of $61 million increased 15 percent and 62 percent, respectively. The year-over-year increase in sales reflects the impact of the ongoing U.S. launch in pancreatic cancer and early launch success for pancreatic cancer in Europe.

• VIDAZA® third quarter sales decreased 28 percent to $158 million, reflecting the year-over-year impact of the entry of generic azacitidine in the U.S. market. U.S. sales decreased 87 percent to $10 million. International sales were $148 million, an increase of 4 percent.
• POMALYST®/IMNOVID® sales were $181 million, an increase of 102%. U.S. sales were $118 million and International sales were $63 million, an increase of 54% and 402%, respectively. POMALYST®/IMNOVID® sales were driven by increased duration in the U.S. and the continuing launch in Europe following the August 5, 2013 approval.
• In the first full quarter of commercialization, OTEZLA® sales were $18 million. As of the end of July, OTEZLA® had captured the highest share of new patients of any brand in the U.S. psoriatic arthritis category. In addition, access to OTEZLA® remains on track and the product is listed on 98 percent of commercial formularies with the majority of patients not required to have first used a biologic therapy.
• All other product sales, which include THALOMID®, ISTODAX® and an authorized generic of VIDAZA® drug product in the U.S., were $88 million in the third quarter of 2014 compared to $75 million for the third quarter of 2013.

For earnings history and earnings-related data on Celgene (CELG) click here.

You May Also Be Interested In

• Growth isn't weak enough to truly undercut inflation pressures - BMO
• Acme United (ACU) Misses Q1 EPS by 20c
• PayPal (PYPL) stock: Risk-reward 'finally looks favorable' says Deutsche Bank