Celgene reports strong second quarter performance

Celgene has published its financial results for the second quarter of 2012, during which it experienced a 16 percent year-on-year increase in revenues.

The company's sales total for the period came to $1.37 billion (870.99 million pounds), while its income and earnings per share totals rose by 31 percent and 37 percent respectively.

Key products Revlimid, Abraxane and Vidaza all saw double-digit sales increases, which more than offset a drop in demand for Thalomid, while strong volume growth was observed in the US, Europe and Japan.

In the coming months, the company expects to be able to publish pivotal trial data for treatments such as apremilast and pomalidomide.

Bob Hugin, chairman and chief executive officer of Celgene, said: "We have never been in a better position to deliver on our promise of helping to improve patients' lives and provide value for our shareholders."

Earlier this month, the company published positive data from Palace-1, the first of three phase III studies evaluating apremilast, with results from Palace-2 and Palace-3 expected during the third quarter.