Celgene reports strong financial results for 2012

Celgene has announced its unaudited financial results for 2012, during which it generated total revenues of $5.5 billion (3.42 billion pounds).

This represented a year-on-year increase of 14 percent, with quarterly net product sales of Revlimid expected to have surpassed $1 billion in the fourth quarter of the year.

Celgene said it is now on target to meet its financial goals for 2015 and has forecast that net product sales during 2013 will come to around $6 billion, up by 11.4 percent on last year, even when factoring in a $100 million negative year-over-year currency impact.

Bob Hugin, Celgene's chairman and chief executive officer, said: "The increased visibility we now have to many of those catalysts allows us to reaffirm our 2015 targets and give new targets out to 2017."

Earlier this week, the company reported positive data from a trial of apremilast, demonstrating the drug's efficacy as a treatment of moderate to severe chronic plaque psoriasis.