Celgene (CELG) reported its 1Q18 results on May 4. In 1Q18, Celgene’s revenue grew 20% YoY (year-over-year) to $3.5 billion from $3.0 billion, boosted by Revlimid, Pomalyst, and Otezla sales. Its revenue grew 1% quarter-over-quarter.
The company’s operating income rose YoY to $218 million in 1Q18 from $1.1 billion, and its net income rose YoY to $846 million from $932 million. Celgene reported basic and diluted earnings per share of $1.13 and $1.10, respectively, in 1Q18, compared with $1.20 and $1.15 in 1Q17.
Product revenue trends in 1Q18
- Revlimid revenue rose 18.9% YoY to $2.2 billion, with $1.5 billion and $747 million from US and international markets, respectively. Its US revenue grew ~20.5% YoY.
- Pomalyst revenue rose 24.5% YoY to $453 million, with $300 million and $153 million from US and international markets, respectively.
- Otezla revenue rose 45.9% YoY to 353 million, with $276 million and $77 million from US and international markets, respectively.
- Abraxane revenue rose ~11% YoY to $262 million, with $159 million and $103 million from US and international markets, respectively.
- Celgene’s newly launched drug, Idhifa, generated revenue of $14 million.
In 1Q18, Celgene’s costs of goods sold (excluding amortization of acquired intangible assets) rose YoY to $135 million from $113 million. Its R&D (research and development) and SG&A (selling, general, and administrative) expenses rose YoY to $2.2 billion and $864 million, respectively, from $995 million and $620 million.