Celgene's Revlimid sales surge 48 percent in second quarter

Celgene recorded a 48-percent rise in second-quarter sales of its multiple myeloma drug Revlimid to $587 million, beating analysts estimates of $553 million, the company announced Thursday.

Three-month revenue for Vidaza jumped to 43 percent to $132 million. Overall sales at the company rose to $853 million during the quarter, from $629 million in 2009, beating analyst forecasts of $821 million. Net income climbed 9 percent to $155 million, compared to the year-ago period.

The company raised its full-year earnings, saying it now expects earnings of between $2.65 and $2.70 per share, from previous guidance of $2.60 to $2.65. The drugmaker, which last month agreed to acquire Abraxis BioScience for $2.9 billion, also lifted its revenue forecast, and now expects to generate sales of $3.4 billion to $3.45 billion, from an earlier estimate of $3.3 billion to $3.4 billion in revenue.

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