Celgene's Revlimid fails to meet Phase III endpoint for expanded indication

27 July 2016

Shares of US biotech firm Celgene (Nasdaq: CELG) dipped after the company revealed disappointing Phase III data for its already marketed cancer drug Revlimid (lenalidomide) in the treatment of diffuse large B-cell lymphoma patients, that failed to show benefit on overall survival.

Celgene had hoped to extend the life of its blockbuster Revlimid by expanding into new indications that were expected to increase sales of Revlimid, but these results have likely put paid to that aim, at least in the short term. Sales of Revlimid came in at $5.8 billion for full-year 2015. The setback knocked 2% off Celgene shares on Tuesday morning and highlights just how much the company depends on its top product, said EP Vantage, the editorial arm of the Evaluate group.

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