Good News for Celgene - Analyst Blog
Yesterday, Celgene Corporation (CELG) announced that its cancer drug Revlimid met the main goal in a randomized, double-blind, multi-center late-stage study (IFM 2005 02). The study, sponsored by the Intergroupe Francophone du Myelome and University Hospital of Toulouse, evaluated Revlimid compared to placebo in patients suffering from multiple myeloma (MM) who had undergone an autologous stem cell transplant. The data was evaluated by an independent data and safety monitoring committee.
"Autologous stem cell transplant" refers to a process where stem cells are removed from a person's bone marrow before chemotherapy and reintroduced once through with chemotherapy. The objective of the exercise is for the stem cells to produce healthy new blood cells.
The participants in the study received two cycles of the Celgene drug after undergoing a stem cell transplant -- about one cycle a month. An interim analysis of data from the late-stage study revealed that multiple myeloma was in check for a longer period for those who continued to be treated with Revlimid as opposed to the patients who had stopped taking the drug after two cycles. Furthermore, patients who continued to be treated with Revlimid lived longer without their disease progressing than those who were given a placebo.
Celgene intends to present further results from the study later in the year. Revlimid is currently approved in combination with dexamethasone to treat MM patients who have undergone at least one prior treatment, but not for patients with newly diagnosed MM. The drug is also approved for treating Myelodysplastic Syndromes (MDS). 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 more safe and 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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