uploads/2017/11/Abraxane.png

How Celgene’s Abraxane Is Positioned after 3Q17

By

Updated

Abraxane’s revenue trends

In 3Q17, Celgene’s (CELG) Abraxane generated revenues of $251.0 million, which reflected ~8.0% growth on a year-over-year (or YoY) basis and a 1.0% decline on a quarter-over-quarter basis. In the US market, Abraxane generated revenues of ~$149.0 million in 3Q17, which reflected ~3.5% growth on a YoY basis.

Outside the US markets, Abraxane reported revenues of ~$102.0 million in 3Q17 compared to $89.0 million in 3Q16. The revenue growth outside the US market was primarily attributed to the overall revenue growth of Abraxane in 3Q17.

In the US market in 3Q17, Abraxane maintained leadership in first-line metastatic pancreatic cancer.

Article continues below advertisement

In the first nine months of 2017, Abraxane reported revenues of ~$741.0 million, which reflected ~4.8% growth on a YoY basis. The increase in unit sales in international markets propelled its revenue growth, which was partially offset by a net price decrease and a modest decline in sales in the US market. 

Celgene anticipates net revenues from the sales of Abraxane in fiscal 2017 to reach ~$1.0 billion.

About Abraxane

Abraxane is used for the treatment of individuals with metastatic breast cancer. It is also used as a first-line treatment for patients with metastatic adenocarcinoma of the pancreas in combination with gemcitabine. Abraxane is also used in combination with carboplatin as a first-line treatment for individuals with metastatic non-small cell lung cancer (or NSCLC).

In the NSCLC market, Abraxane’s peers include Roche’s (RHHBY) Tarceva, Eli Lilly’s (LLY) Cymraza, Merck’s Keytruda, and Bristol-Myers Squibb’s (BMY) Opdivo. In 3Q17, Tarceva, Cyramza, Keytruda, and Opdivo reported revenues of about $202.0 million, $196.0 million, $1.0 billion, and $1.3 billion, respectively. 

The revenue growth of Abraxane could boost the iShares Core S&P 500 ETF (IVV). Celgene comprises ~0.42% of IVV’s total portfolio holdings.

Advertisement

More From Market Realist