Celgene forecasts strong annual growth figures for 2010

Celgene has published preliminary financial results for 2010 which demonstrate the company's strong growth in the last 12 months.

According to unaudited figures from the pharmaceutical manufacturer, Celgene's non-GAAP total revenue for the 2010 full year will come to around $3.6 billion (2.3 billion pounds).

This would represent a year-on-year increase of approximately 34 percent, driven by the robust performance of drugs such as Revlimid and Vidaza, sales of which rose by 44 percent and 38 percent respectively in the last year.

In addition, the firm has accomplished a number of key clinical milestones, with important submissions, approvals and launches in the fields of haematology, oncology and immunology treatment having been achieved.

Celgene expects growth to continue in the coming year, with annual revenue predicted to increase by a further 25 percent in 2011 to reach a total of around $4.5 billion.

This comes after the company applied for European approval of Revlimid as a treatment for multiple myeloma patients earlier this month, based on positive data from the recent MM-015 phase III clinical trial.