Celgene's 1st-qtr 2007 net income soars 61.4%
US drugmaker Celgene says that its first-quarter 2007 net income totaled $57.4 million, $0.14 per diluted share, versus $16.0 million, or $0.04 per share, in the like, year-ago period, as total revenue sky-rocketed 61.4% to a record $293.4 million.
The Summit, New Jersey-based firm said that its healthy earnings were due to a 351% increase in net sales of the multiple myeloma drug Revlimid (lenalidomide) to $146.2 million, while income from another MM drug, Thalomid (thalidomide), totaled $106.0 million.
Sales of the MM drug Alkeran (melphalan and melphalan HCl), which the firm licensed in April 2003 from UK drug major GlaxoSmithKline for distribution and promotion in the USA, were down at $16.0 million compared with $18.3 million.
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