Earnings Roundup: Celgene Corp.

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.

Celgene Revenue

Celgene Earnings

Celgene Product Sales

Revlimid• Q2 sales of $1.2 billion, up 15%.• Up 8% from Q1.• Volume growth.• Market share growth.

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.

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%.

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).

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.”

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.

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.

Future catalysts1. Filed Revlimid for use in newly diagnosed multiple myeloma.• PDUFA date of February 22, 2015.

2. 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.

3. 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.

Leaked: A coming blockbuster that could make even Celgene

jealous.