How did Celgene
First the ho-hum news: Revenue was up 10% year over year, which is impressive except for the fact that Celgene isn't Pfizer
The good news came in the form of a trial dubbed MM-015. Results from the phase 3 trial weren't expected quite so soon, but the data at the interim analysis was good enough to show that Revlamid in combination with two older drugs delayed the progression of newly diagnosed multiple myeloma, a type of blood cancer.
Revlamid is already used off-label by U.S. doctors to treat newly diagnosed multiple myeloma patients, but there's still benefit to getting a broader approval because the company'll be able to market the drug for that indication, once approved. Celgene should also benefit from increased sales in Europe, where it's currently not used to treat early patients.
Expanding the patient population is a pretty standard procedure to increase sales. For instance, on Wednesday Onyx Pharmaceuticals
With very few late-stage compounds in its pipeline, Celgene will need to continue this tactic of increasing sales by expanding its already-approved drugs into different cancers until its pipeline can catch up. So far, the juice is working.
Expand into this Foolishness:
- The next millionaire-maker megatrend.
- These stocks won't wait for a recovery.
- There's more to options than you think.