SUMMIT, N.J.--(BUSINESS WIRE)--Jan. 6, 2008--
Company Reports Record Operating Performance in 2007 Driven by
Extraordinary Revenue and Profit Growth
- Total Revenue for 2007 Increased More Than 50 Percent
Year-Over-Year to Approximately $1.4 Billion (Unaudited)
- REVLIMID(R) Net Product Sales in 2007 Increased More Than 140
Percent Year-Over-Year to a Range of $770-775 Million
(Unaudited)
- REVLIMID Net Product Sales in Fourth Quarter 2007 Increased
More Than 95 Percent Year-Over-Year to a Range of $240-245
Million (Unaudited); and More Than 23% Over Q3 2007 Results of
$199Million
- Adjusted Diluted Earnings Per Share Expected to Double
Year-Over-Year to Approximately $1.05 (Unaudited)
Celgene Forecasts Exceptional Revenue and Earnings Growth in 2008
Driven by Multiple Products, Countries and Indications
- Total Revenue Expected to Increase More Than 30 Percent to
Approximately $1.8 Billion
- REVLIMID Revenue Expected to Increase More Than 60 Percent to
Approximately $1.25 Billion in Global Product Sales
- Adjusted Diluted Earnings Per Share Targeted to Increase
Approximately 45 percent to a Range of $1.50 to $1.55
Recent Developments Strategically Position Celgene for Significant
Growth Over the Next Five Years
- Signed Agreement to Acquire Pharmion Corporation for $2.9
Billion in Cash and Stock; Transaction Accelerates Financial
Growth Over the Next Five Years
- Celgene/Pharmion Hart-Scott-Rodino Thirty Day Waiting Period
Expired
- Achieved REVLIMID Compendia Listing in Newly Diagnosed
Multiple Myeloma
- Commercialization of REVLIMID in Several Countries with
Clinical, Commercial and Regulatory Opportunities in Nearly
100 Countries Over Next Five Years
- More Than 113 Abstracts Presented at ASH 2006; 25 Oral
Presentations Including Updated Clinical Data for REVLIMID in
Newly Diagnosed Multiple Myeloma, Non-Deletion 5q MDS, Chronic
Lymphocytic Leukemia (CLL) & Non-Hodgkin's Lymphoma (NHL)
- REVLIMID and Low-Dose Dexamethasone Achieved an Unprecedented
Two-Year Survival Rate (87%) in an Eastern Cooperative
Oncology Group (ECOG) Phase III Trial in Newly Diagnosed
Multiple Myeloma
- Southwestern Oncology Group (SWOG) Study Finds REVLIMID and
Dexamethasone Demonstrated Superior Overall Response Rates
(85%) Compared to (55%) for Dexamethasone Alone; One-Year
Progression-Free Survival (77%) Compared to (51%) for
Dexamethasone Alone
- Two Major Phase III Studies Published in The New England
Journal of Medicine Reported REVLIMID plus Dexamethasone Shows
Increased Overall Survival Advantage to Dexamethasone Plus
Placebo in Patients Previously Treated for Multiple Myeloma
- Initiated REVLIMID Phase II CLL-001 Dose-Escalation Study in
Relapsed/Refractory Chronic Lymphocytic Leukemia
2008 Selected Corporate Objectives
- Complete Acquisition of Pharmion Corporation
- Maximize REVLIMID's Commercial Potential in More Than 30
Countries
- Advance Regulatory Strategies to Expand REVLIMD Label to NDMM
with FDA, EMEA and Other International Regulatory Agencies
- Update REVLIMID Newly Diagnosed Multiple Myeloma Phase III
Data from ECOG E4A03 Trial
- Complete REVLIMID Phase II NHL-003 Trial in Aggressive
Relapsed/Refractory Non-Hodgkin's Lymphoma
- Complete Dose-Escalating Studies of REVLIMID in CLL-001
- Initiate REVLIMID CLL & NHL Phase III SPA Trials
- Complete Enrollment in REVLIMID Newly Diagnosed Multiple
Myeloma Phase III MM-015 RMP Clinical Trial
- REVLIMID Del 5Q Myelodysplastic Syndrome Phase III Data from
MDS-004 Clinical Trial
- Initiate REVLIMID Newly Diagnosed Multiple Myeloma Phase III
MM-020 (Rd vs MPT); International Clinical Study with 1,500
Patients
- Advance CC-4047 Clinical and Regulatory Strategies in
Myelofibrosis, Multiple Myeloma, Sickle Cell Anemia and Solid
Tumors
- Advance Regulatory Strategies for lead TNF(alpha)/PDE4
Inhibitor CC-10004 in Moderate/Severe Psoriasis, Psoriatic
Arthritis and Rheumatoid Arthritis
- Evaluate Activity of TNF(alpha)/PDE4 Inhibitor CC-11050 in
Broad Range of Inflammatory Indications
- Achieve Regulatory Approvals for REVLIMID in Australia and
Canada
- Submit Regulatory Filings for REVLIMID in Japan
- Initiate Clinical Investigation for CC-930 in Inflammatory
Diseases
- File IND for Clinical Investigation of PDA001 Placental
Derived Stem Cell Program
Celgene Corporation (NASDAQ: CELG) will review 2007 achievements
and provide outlook for 2008 milestones at the JPMorgan 26th Annual
Healthcare Conference. In 2007, Celgene achieved exceptional results
in all areas of its global operations, underscored by EMEA approval
for REVLIMID(R) and globalization of Celgene operations in more than
40 countries.
The Company's commercial performance is based on record total
revenue and profits supported primarily by the initial launch of
REVLIMID in several European countries as well as from multiple
product revenue streams that include, REVLIMID, THALOMID, ALKERAN(R),
FOCALIN XR(TM) and the Ritalin Family of products. The successful
growth of product revenue continues to reflect the positive reception
by hematologist/oncologists worldwide for REVLIMID based on approved
indications in multiple countries, compendia listing for patients
newly diagnosed with multiple myeloma in the United States, clinical
findings across a broad range of blood cancers presented worldwide at
major international medical meetings, and reported in peer-reviewed
publications.
In 2007, preliminary unaudited results indicate that total revenue
will increase by more than 50 percent, year-over-year, to
approximately $1.4 billion. Adjusted diluted earnings per share are
expected to double to approximately $1.05. The Company will report its
2007 full-year financial results on January 31, 2008.
2008 total revenue growth is targeted to increase more than 30
percent to approximately $1.8 billion, and adjusted diluted earnings
per share are targeted to increase approximately 45 percent to a range
of $1.50 to $1.55.
Webcast
A Webcast of the Company's JPMorgan 25th Annual Healthcare
Conference presentation, scheduled for Monday, January 7 at 8:30 am PT
(11:30 am ET), can be accessed by going to Celgene's website,
www.celgene.com, and clicking on "Investor Relations", and then
"webcast event". This event will be archived and accessible until
12:00 p.m. ET, January 14, 2008.
About Celgene
Celgene Corporation, headquartered in Summit, New Jersey is an
integrated global pharmaceutical company engaged primarily in the
discovery, development and commercialization of innovative therapies
for the treatment of cancer and inflammatory diseases through gene and
protein regulation. For more information, please visit the Company's
website at www.celgene.com.
This release contains forward-looking statements which are subject
to known and unknown risks, delays, uncertainties and other factors
not under the Company's control, which may cause actual results,
performance or achievements of the Company to be materially different
from the results, performance or other expectations expressed or
implied by these forward-looking statements. These factors include
results of current or pending research and development activities,
actions by the FDA and other regulatory authorities, and other factors
described in the Company's filings with the Securities and Exchange
Commission such as our 10K, 10Q and 8K reports.
CONTACT:
Celgene Corporation
David Gryska, 908-673-9102
Senior Vice President and Chief Financial Officer
or
Brian P. Gill, 908-673-9530
Vice President, Corporate Communications
SOURCE: Celgene Corporation
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