Celgene Eases Angst Over Otezla, Sets The Stage For Growth
Celgene reported second quarter sales growth for key assets in its commercial portfolio, including a recovery for Otezla, and prepared investors for a deluge of data in the second half of 2017.
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Q3 revenue grew 10% to $3.29bn, but came in below consensus, mostly due to Otezla. The blockbuster drug's new reality and recent GED-0301 failure in Crohn's disease contributed to Celgene's decision to lower guidance for both 2017 and 2020.
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