Company Name: Celgene Corporation

Stock Market: NASDAQ (CELG)
Industry Sector: Biopharmaceutical Company
Market Capitalisation: $ 24,733.0 million
Yearly Revenue: $1,405.8 million
Operating Income: $425.1 million
Net Income: $226.4 million
Total Assets: $ 3,611.3 million

Key People: Sol J. Barer (Chairman of the Board and Chief Executive Officer), Robert J. Hugin (Director, Chief Operating Officer), David W. Gryska (Chief Financial Officer)

Headquarters Address: 86 Morris Avenue
Summit, New Jersey 07901
Number of Employees: 1,685 full-time (as of December 31, 2007)
Website Address: www.celgene.com

Company Overview

Celgene Corporation was founded as a unit of the Celanese Corporation in 1980. After six years, it spun off as an independent company. The company is a worldwide bio-pharmaceutical company that discovers, develops and commercialises products for the treatment of cancer and immune inflammatory-related diseases.

The goal of Celgene Corporation is to lengthen the lives of patients who suffer from severe illnesses like cancer. The company also is focusing on the commercialisation and development of its products. It has conducted research on patients with incurable haematological tumour cancers (including breast, prostate, ovarian and pancreatic cancers), myeloma (cancer of plasma cells), non-Hodgkin’s lymphoma, glioblastoma multiforme (an aggressive type of brain tumour), and other kinds of cancer. The company has two primary products: Thalomid and Revlimid. Thalomid (thalidomide) is for the treatment of Multiple Myeloma (MM), and it is also a treatment for acute cutaneous manifestations of Erythema Nodosum Leprosum (ENL). Thalomid is combined with Dexamethasone for treating patents with myeloma. Thalomid is contraindicated for pregnant women because it causes life-threatening defects. Revlimid (lenalidomide) is contraindicated for patients who are hypersensitive to the drug. Other products that the company introduced include Alkeran (melphalan), Ritalin and Focalin.

Celgene Corporation believes in medical progress that ensures that patients benefit from its products. Basically, Celgene’s industry-leading programmes supply patients with corresponding information, assistance and support. Employees of Celgene receive a lot of benefits such as medical, dental and life insurance; disability plans; travel assistance; retirement plans; vision plans; paid vacations and holidays; education assistance; fitness benefits; discounts on products and health services.

Current Financial Overview

In 2007, the net sales of Revlimid® increased to $773.9 million from $320.6 million in 2006. This increase was principally attributable to the expanded use of the product in the United States due to the FDA’s approval for the medication for patients suffering from multiple myeloma who had undergone at least one previous treatment for multiple myeloma. The increase could also be attributed to expanded use in Europe, due to the approval of the European Commission for the use of Revlimid®. This increase was also due to the price increases and increased sales from the company’s European Named Patient Program (NPP), which offers Revlimid® to European patients on a sympathetic basis.

In 2007, net sales of Thalomid® increased to $447.1 million from $433.0 million. This increase was due mainly to price increases, yet this was partially offset by lower sales as a result of a decline in written prescriptions, which reflected the increased use of Revlimid®. Net sales of Alkeran® also increased to $73.6 million in 2007 from $50.3 million in 2006, which was primarily attributable to increased prices and a decline in product returns.