Celgene reports preliminary double-digit growth figures for 2016

Celgene has announced its preliminary 2016 unaudited results, reporting a total net product sales total of around $11.19 billion (9.09 billion pounds).

This represents a year-on-year increase of 22 percent, with brands such as Revlimid, Pomalyst/Imnovid and Otezla all seeing strong year-over-year growth. Its GAAP operating margin, meanwhile is expected to be around 28 percent, up from 24 percent in 2015.

Financial guidance for 2017 has also been issued, with total revenue expected to be in the range of $13 billion to $13.4 billion, which would represent an 18 percent increase on 2016, based on the midpoint of the range.

Revlimid is likely to be a key driver of this ongoing growth, with product sales expected to be in the range of $8.0 billion to $8.3 billion, up from $6.98 billion in 2016.

Mark Alles, chief executive officer of Celgene, said: "We are entering a pivotal two-year period with multiple catalysts increasing our confidence in our ability to achieve or exceed our 2020 targets and sustain our growth from 2020 to 2030."

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