Celgene sees year-to-year revenue increase of more than 50 percent

WARREN, N.J. Celgene’s revenue increased by more than 50 percent in 2007 as compared to 2006. The growth was due to sales of its cancer drug Revlimid.

Revlimid is used in combination with the corticosteroid dexamethasone to treat multiple myeloma patients who have received at least one prior therapy. Net sales of the drug increased more than 140 percent in 2007 to nearly $775 million.

The company also reported good sales results for its skin disease treatment drug Thalomid, the chemotherapy drug Alkeran and the attention deficit hyperactivity disorder drugs Focalin XR and Ritalin and the Ritalin family of products.

The company expects revenue to increase more than 30 percent this year to approximately $1.8 billion and adjusted diluted earnings per share to increase approximately 45 percent up to $1.55.