Celgene Corporation (CELG) announced recently that its cancer drug Revlimid reduced the risk of progression of the disease in newly diagnosed patients with multiple myeloma (MM) by 50%.  The data was presented at the 51st American Society of Hematology’s annual meeting in New Orleans.

The data from a randomized, double-blind, late-stage study revealed that after less than 10 months of follow-up, patients treated with Revlimid combined with melphalan and prednisone, followed by Revlimid alone (MPR-R), lived longer without their disease progressing compared to those who took melphalan and prednisone followed by a placebo (MP).

Patients who took only melphalan and prednisone lived an average of 13 months before the commencement of their disease progression. The median point had not yet been reached in the MPR-R group thereby suggesting that the disease had not yet worsened in more than half the patients in the group. It was further disclosed that patients who used Revlimid for maintenance therapy reduced the risk for disease progression 75% more than those who used induction alone.

Revlimid is currently approved for myelodysplastic syndrome (MDS) and second-line multiple myeloma and the company is expanding its label into other indications. There can be a further addition of $500 million to $700 million in sales if the drug is approved as a maintenance therapy. In addition to Revlimid, the company’s product portfolio includes Vidaza for MDS, which should also drive growth.

However, sales of Celgene’s Thalomid have been declining. We feel this decline will continue since safer and more effective drugs are available for multiple myeloma in the form of Revlimid and Takeda’s Velcade.

Currently, we are Neutral on Celgene.

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