"Go for a business that any idiot can run -- because sooner or later, any idiot probably is going to run it." -- Peter Lynch

I'm not sure Celgene's (Nasdaq: CELG) newly appointed CEO Robert Hugin is an idiot -- I'd guess not since he's currently the company's president and chief operating officer -- but there's no doubt he's about to inherit a business that would be hard to mess up.

Revenue from the company's cancer drugs was up 32% in the first quarter. Top-selling Revlimid led the charge increasing 46% year over year, while Vidaza was up 60% compared to the year-ago quarter. Yep, "same old, same old" from the blood cancer specialist.

The bottom line looked just as good with earnings per share increasing 43%. That's after adjustment for things like acquisitions, which is reasonable, and stock-based compensation, which really shouldn't be subtracted out. Hopefully Hugin has a little more respect for shareholders and stops breaking out stock-based compensation in the company's adjusted earnings.

Like other drug companies, Celgene will be affected by the new health-care reform legislation. All told, the company will lose $35 million to $40 million in revenue for the year from things like increased discounts for Medicaid. But unlike Johnson & Johnson (NYSE: JNJ), Eli Lilly (NYSE: LLY), and Bristol-Myers Squibb (NYSE: BMY), Celgene actually raised its guidance in the face of the decline; it should be able to absorb the entire cost and then some thanks to a combination of brisk business and previous conservative guidance from management.

Celgene isn't without risk: It will need another hit from its pipeline in order to sustain the sales growth for years into the future. But for now investors can take solace in the fact that the current offerings seem to be selling well enough that Lynch's quote doesn't really apply right now.

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Fool contributor Brian Orelli, Ph.D., doesn't own shares of any company mentioned in this article. Johnson & Johnson is an Income Investor selection and Motley Fool Options recommended buying calls on the stock. The Fool has a disclosure policy.