Earnings Roundup: Celgene Corp
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Earnings Roundup: Celgene Corp

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Celgene Corp (NASDAQ: CELG) is one of biotechnology's brightest shining stars. The company markets a slate of therapies, including its mega blockbuster multiple myeloma drug Revlimid and its ...

Celgene Corp (NASDAQ: CELG) is one of biotechnology's brightest shining stars. The company markets a slate of therapies, including its mega blockbuster multiple myeloma drug Revlimid and its fast-growing cancer drug Abraxane.
Celgene also recently launched its first therapy for autoimmune disease, Otezla. Given all Celgene's activity, investors are right to wonder how sales stacked up in the second quarter. In the following slideshow, you'll learn which drugs grew fastest and why and gain insight into how the rest of the year is likely to shape up.

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  • 1. Earnings Roundup: Celgene Corp.
  • 2. Celgene Overview • Total sales of $1.87 billion, up 17% from last year. • Volume = 14% contribution to growth. • Pricing = 3% contribution to growth. • EPS of $0.90 vs. $0.76 YoY, up 18%. • Increased guidance.
  • 3. Celgene Revenue
  • 4. Celgene Earnings
  • 5. Celgene Product Sales
  • 6. Revlimid • Q2 sales of $1.2 billion, up 15%. • Up 8% from Q1. • Volume growth. • Market share growth.
  • 7. Abraxane • Q2 sales of $215 million, up 39% YoY. • Up 17% from Q1. • U.S. sales of $160 million, up 33%. • Ex-U.S. sales of $55 million, up 58%. • Due to label expansion to include pancreatic cancer. • Addl’l launches in key markets by 2015.
  • 8. Vidaza • Q2 sales of $152 million, down 28%. • U.S. sales tumbled 89% to $10 million due to generics. • Int’l sales of $142 million, up 12%.
  • 9. Pomalyst/Imnovid • Q2 sales of $161 million, up 143%. • Up 19% from Q1 on market share gains. • U.S. sales of $104 million, up 81%. • Ex-U.S. sales of $57 million, up 567% (launched Aug. ‘13).
  • 10. Otezla • Q2 sales of $5 million. • Picking up into quarter end. • Launch trending better than Xeljanz, Cimzia, and Stelara. “Underlying demand grew steadily and Otezla ended the quarter sharing the market share lead for new patient starts.”
  • 11. Other • Bought back 3.2 million shares (pre-split) for $475 million. • Increased its equity stake in Acceleron Pharma. • Operating cash flow of $516 million. • Cash & equivalents of $6.2 billion.
  • 12. 2014 Guidance Updated • Expects 2014 sales of $7.6 billion, up 17% YoY. • Expects 2014 EPS of $3.60 to $3.65, up 22% YoY.
  • 13. Future catalysts 1. Filed Revlimid for use in newly diagnosed multiple myeloma. • PDUFA date of February 22, 2015. 1. Began enrolling phase 3 for Abraxane in non-small cell lung cancer as a maintenance therapy, began enrolling phase 2 for previously treated metastatic colorectal cancer. 2. Otezla potential label expansion to include psoriasis. • PDUFA date of September 23, 2014. • Phase 3 Revlimid trials underway for large b-cell lymphoma as a maintenance therapy, relapsed follicular lymphoma, and relapsed indolent lymphoma.
  • 14. Leaked: A coming blockbuster that could make even Celgene jealous.