Celgene reports double-digit growth in second quarter of 2017

Celgene has announced its financial results for the second quarter of 2017, during which it reported a revenue total of $3.7 billion (2.46 billion pounds).

This represented a year-on-year increase of 19 percent, while net income and diluted earnings per share rose to $1.06 billion and $1.31 respectively, up from $598 million and $0.75 during the second quarter of 2016.

Double-digit percentage sales increases were recorded for a number of therapies, including Revlimid, Pomalyst/Imnovid and Otezla, while Abraxane sales also ticked upwards slightly.

Other highlights of the quarter included the publication of positive data from the phase III ROBUST, QUAZAR and RADIANCE study, while new collaborations were agreed with BeiGene and Forma Therapeutics.

Mark Alles, Celgene's chief executive officer, said: "Exceptional execution of key strategic initiatives strengthened and expanded our opportunities for long-term growth."

Following the publication of these results, Celgene has confirmed that it is on track to meet its revenue target for the full year, which is in the range of $13 billion to $13.4 billion.

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