After the approval of the drug as a therapy for NDMM (newly diagnosed multiple myeloma), Celgene’s (CELG) Revlimid has witnessed rapid growth in market share around the world. The approval has also helped significantly increase the average duration of Revlimid therapy used by multiple myeloma patients.
Revlimid has already been approved in about 20 countries for NDMM. In 1Q17, the company plans to complete reimbursement discussions in France. In 2017, Celgene expects to witness significant growth in Revlimid’s market share in Japan and Europe.
In 4Q16, Revlimid’s sales reached ~$1.8 billion, which represents a rise of ~16% on a YoY (year-over-year) basis. The drug earned ~$1.2 billion in the US market, which represents a YoY growth of about 24%.
In 4Q16, Revlimid earned revenues of $621 million from international markets, which represents a YoY growth of ~3%. Celgene thus continues to pose tough competition to other multiple myeloma players like Merck (MRK), Bristol-Myers Squibb (BMY), and Novartis (NVS).
Growth drivers for 2017
In 1Q17, Celgene expects the FDA (US Food and Drug Administration) to approve Revlimid as a maintenance therapy for NDMM patients who have already received autologous stem cell transplants. The company expects a regulatory decision for Revlimid in this indication from European Medicines Agency in the first half of 2017.
Notably, the PowerShares QQQ (QQQ) has about 1.5% of its total portfolio holdings in CELG. To know more about Revlimid’s performance in 2016, please read Market Realist’s “Revlimid Continues to Be a Key Growth Driver for Celgene in 2016.”
In the next article, we’ll analyze the growth trends for Celgene’s Pomalyst.