Revlimid fuels Celgene sales rocket

Here's what one big drug can do: Celgene announced that it expects fiscal 2007 profits to double to $1.05 per share, as sales of its cancer drug Revlimid [1]skyrocket. And the company projects that Revlimid will be its profit engine for 2008 as well.

Overall revenue for the company shot up by 50 percent to $1.4 billion; Revlimid's sales grew by a whopping 140 percent to $770 million-plus. As the juggernaut rolls forward, profits should grow a further 45 percent to $1.50 to $1.55 per share on a 30 percent hike in sales to $1.8 billion. And Revlimid will account for 60 percent of that figure, or about $1.25 billion.

Analysts are even more bullish on the company: They're projecting 2008 sales of more than $2 billion. The lion's share of that would come from Revlimid, though Celgene will add another blood-cancer treatment to its quiver when its buyout of Pharmion [2]--and its drug Vidaza--closes later this year.

- see the press release [3] from Celgene
- read this report [4] for more

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Revlimid price likely to attract price scrutiny. Report [1]