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Home Industry News Celgene maintains strong momentum in third quarter of 2014

Celgene maintains strong momentum in third quarter of 2014

28th October 2014

Celgene has announced its financial results for the third quarter of 2014, during which it recorded a revenue total of $1.98 billion (1.56 billion pounds).

This represented a year-on-year increase of 18 percent, with net product sales rising 19 percent, adjusted net income surging by 20 percent and adjusted diluted earnings per share growing by 24 percent in the same period.

During the quarter, improved sales of key products such as Revlimid, Abraxane and Pomalyst/Imnovid helped to offset a drop in demand for Vidaza, which was caused by the introduction of a generic competitor.

For the year as a whole, the company now expects to generate a revenue total of $7.6 billion, which would represent a year-on-year increase of approximately 17 percent.

Bob Hugin, chairman and chief executive officer of Celgene, said: "Upcoming US and European clinical and regulatory milestones and the meaningful progress we are making with our pipeline strengthen our position for future growth and success."

This comes after the company recently presented promising clinical trial data on its new Crohn's disease therapy GED-0301 at the United European Gastroenterology Week in Vienna.ADNFCR-8000103-ID-801756805-ADNFCR

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