Celgene reports 3Q13 results, raises guidance

Celgene Corp. (NASDAQ:CELG) reported 3Q13 earnings that beat the Street on Thursday and again raised its 2013 EPS and revenue guidance. Adjusted diluted EPS in 3Q13 was $1.56, up from $1.29 in 3Q12 and above the Street's $1.54 estimate. Third quarter revenues were $1.67 billion, up 18% over the prior year's quarter and beating the Street's $1.64 billion estimate. Sales of Revlimid lenalidomide -- which is approved for relapsed or refractory multiple myeloma (MM), myelodysplastic syndromes (MDS) and mantle cell lymphoma (MCL) -- increased 12% to $1.1 billion.

Celgene reported $90 million in 3Q13 sales of MM drug Pomalyst pomalidomide, which FDA approved in February. Sales of Abraxane nab-paclitaxel in the quarter were $170 million. Last month, FDA approved an sNDA to expand Abraxane's label to include first-line pancreatic cancer, for which it is under review in the EU. Celgene also markets Abraxane for first-line non-small cell lung cancer (NSCLC) and second-line metastatic breast cancer. ...