«We think the strategy is working very well," Hugin said in an interview with Bloomberg News Friday in Shanghai. «There’s great productivity coming out of the partnerships.»
As part of its plan to reduce its dependence on cancer drug Revlimid, Celgene struck 10 licensing deals in 2014, more than any other biotech company, according to Bloomberg Intelligence. The strategy provides biotech startups with capital and an experienced ally to help bring
Celgene’s alliance with Acceleron Pharma Inc. has yielded two different drugs that are currently in
Last month, Celgene agreed to pay a subsidiary of AstraZeneca Plc $450 million upfront to collaborate in developing and selling a treatment for hematologic malignancies, cancer that begins in
Last month, the company reported a 20 percent increase in
Cancer treatment Abraxane had sales of $223 million, compared with the $246 million average estimate, and psoriasis drug Otezla had revenue of $60 million, short of the $70.6 million analysts had predicted on average.
Abraxane is likely to meet the lower end of its goals for this year because as the company expands outside of the U.S., it takes time to get reimbursements in other countries, Hugin said.
Celgene is working with the China Food and Drug Administration to get permission to market Abraxane to treat pancreatic cancer, which has been approved in many other countries but not yet in China.
The company hopes to have discussions with Chinese regulators in the second half of this year on Vidaza, a treatment for myelodysplastic syndromes — disorders of the blood cells that can lead to leukemia — and have it approved in the next two years, Hugin said.