Celgene Corp.'s diversification and growth strategy appears to be back on track after several setbacks, though continued execution is needed to diminish skepticism that the company will be able to replace revenue from its biggest seller Revlimid (lenalidomide) when generics launch in 2022.
Celgene's Focus On Execution Pays Off, But Follow-Through Is Key
Third quarter sales grew 18.5% to $3.89bn, beating consensus with Otezla's contribution of 40.3% growth. After several disappointments, Celgene appears to be back on track with efforts to boost revenue before Revlimid generics hit in 2022.
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