BMO Capital Positive on Celgene (CELG) REVLIMID Label Expansion
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Go back to BMO Capital Positive on Celgene (CELG) REVLIMID Label Expansion
February 18, 2015 9:38 AM EST
Celgene (NASDAQ: CELG) announced that the U.S. Food and Drug Administration (FDA) has expanded the existing indication for REVLIMID® (lenalidomide) in combination with dexamethasone to include patients newly diagnosed with multiple myeloma (NDMM). REVLIMID plus dexamethasone was previously approved in June 2006 for use in multiple myeloma patients who have received at least one prior therapy.
The approval of REVLIMID as an option for use in all patients with multiple myeloma represents a new paradigm in the management of this disease, said Kenneth Anderson, M.D., Director, Jerome Lipper Multiple Myeloma Center,... More
February 18, 2015 6:50 AM EST
BofA/Merrill Lynch analyst Ying Huang reiterated a Buy rating and $136 price target on Celgene (NASDAQ: CELG) after the company confirmed that no Inter Partes Reviews (IPRs) have been filed to date on any of its products, including Revlimid and Pomalyst. Management also... More
February 18, 2015 6:43 AM EST
(Updated - February 18, 2015 9:40 AM EST)
Canaccord Genuity initiated coverage on Celgene (NASDAQ: CELG) with a Buy rating and a price target of $156. Analyst John Newman thinks Revlimid will reach $10 billion in worldwide revenues by 2020. He also noted potential in inflammatory diseases.
"We do not expect generic competition to surface until ~2022-2024, providing substantial cash flows mid-term. Importantly, we expect US FDA approval in front-line multiple myeloma during February... More
