Celgene announces strong year-on-year growth in Q2 2016

Celgene has announced its financial results for the second quarter of 2016, during which it experienced a year-on-year revenue increase of 21 percent.

Its quarterly revenue total of $2.75 billion (2.09 billion pounds) was achieved in large part thanks to the strong demand seen for its key product Revlimid, which generated $1.7 billion in sales thanks to market share gains and increased duration.

The market reach of Revlimid continues to expand, with the drug having been approved in Europe for the treatment of mantle cell lymphoma last month.

Sales for its Pomalyst/Imnovid and Otezla brands also saw strong momentum, helping the firm achieve an income total of $598 million for the quarter, up from $356 million in the corresponding period of 2015.

Other key highlights of the quarter include the announcement of new strategic collaborations with Jounce Therapeutics and Agios Pharmaceuticals in the field of immuno-oncology.

Mark Alles, chief executive officer of Celgene, said: "This strong momentum increases our confidence in our near and longer-term outlook as we continue to invest in innovative research and the development of transformational therapies for patients worldwide."