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celgene corp (CG3) Details

Celgene Corporation, a biopharmaceutical company, discovers, develops, and commercializes therapies to treat cancer and immune-inflammatory related diseases in the United States and internationally. The company’s commercial stage products include REVLIMID, an oral immunomodulatory drug for the treatment of multiple myeloma, myelodysplastic syndromes (MDS), and mantle cell lymphoma; VIDAZA, a pyrimidine nucleoside analog to treat intermediate-2 and high-risk MDS, and chronic myelomonocytic leukemia, as well as acute myeloid leukemia (AML); ABRAXANE, a solvent-free chemotherapy product for the treatment of breast, non-small cell lung, pancreatic, and gastric cancers; and POMALYST/IMNOVID for the treatment of multiple myeloma. Its commercial stage products also comprise THALOMID for the patients with multiple myeloma and for the acute treatment of the cutaneous manifestations of erythema nodosum leprosum; ISTODAX to treat cutaneous T-cell lymphoma; and FOCALIN, FOCALIN XR, and RITALIN LA products. The company’s pre clinical and clinical stage products consist of OTEZLA for the treatment of psoriatic arthritis, psoriasis, and ankylosing spondylitis; CC-122 and CC-220 to treat hematological and solid tumor cancers; cellular therapies, such as PDA-001 and PDA-002 for Crohn’s and peripheral arterial diseases; CC-486, to treat MDS, AML, and solid tumors; Sotatercept and ACE-536 for the treatment of anemia in patients with rare blood disorders; CC-223 and CC-115 for lymphomas, hepatocellular, and prostate cancers; and CC-292 for the treatment of chronic lymphocytic leukemia and lymphomas. It has strategic drug discovery collaboration with Abide Therapeutics to enhance the treatment paradigm for patients with immune disorders; strategic collaboration with Sutro Biopharma, Inc. to discover and develop antibodies and antibody drug conjugates; and strategic alliance with Forma Therapeutics. Celgene Corporation was founded in 1980 and is headquartered in Summit, New Jersey.

Founded in 1980

celgene corp (CG3) Top Compensated Officers

Chairman, Chief Executive Officer and Chairma...
Total Annual Compensation: $1.3M
President and Chief Operating Officer
Total Annual Compensation: $666.7K
Chief Executive Officer of Celgene Cellular T...
Total Annual Compensation: $645.8K
President of Global Hematology and Oncology
Total Annual Compensation: $753.3K
President of Research and Early Development ...
Total Annual Compensation: $645.8K
Compensation as of Fiscal Year 2013.

celgene corp (CG3) Key Developments

Celgene Corporation Reports Earnings Results for the Fourth Quarter and Full Year of 2014 ; Provides Guidance for the Year 2015

Celgene Corporation reported earnings results for the fourth quarter and full year of 2014. In the fourth quarter, earnings growth was largely driven by operating income with a modest benefit from a lower tax rate and share count. Product sales grew 19% year-over-year compared to original guidance of 16% and adjusted EPS grew 24% year-over-year compared original guidance of 19%. In the fourth quarter, net product sales growth was indeed primarily driven by volume. The volatility in the foreign exchange markets toward the end of the year drove approximately a $25 million fourth quarter unfavorable impact to total net product sales, resulting in a negative 1.4 percentage point impact to growth. In the fourth quarter, earnings growth was largely driven by operating income with a modest benefit from a lower tax rate and share count. Full year, earnings growth was also high quality, based largely on operating income, which accounted for $0.71 of the $0.73 per share increase year-over-year. The gains from the improved tax rate and the favorable cumulative impact of share repurchase program were offset by increased financial expenses associated with May 2014 $2.5 billion debt offering and hedging program. Adjusted earnings per share growth accelerated in both the fourth quarter and full year compared to 2013. Focusing on 2015, the company expected total net product sales between $9 billion to $9.5 billion, a 22% year-over-year increase based on the midpoint of that range. The guidance is based on ForEx rates established over a 1-week period last December. It includes an expected negative currency impact approaching $100 million for the year. The company have a diverse product portfolio with multiple drivers for the top line.

Celgene to Collaborate with Zymeworks on Bispecific Antibodies

Zymeworks has announced that it has entered into a collaboration and licensing agreement with Celgene that focuses on the development of bispecific antibody therapeutics by leveraging the Zymeworks' proprietary Azymetric platform. Based on the terms of the agreement, the two partners will collaborate on early research for several Azymetric-generated antibodies, and Celgene will retain the option to advance the bispecific candidates through clinical development towards commercialisation. In return, Zymeworks will be entitled to an upfront payment, as well as an equity investment from Celgene. Zymeworks will also be eligible to further receive up to USD 164 million in clinical, regulatory, and commercial milestone payments for each candidate, as well as royalties on worldwide net sales. The collaboration between Zymeworks and Celgene builds on the promising features of the Azymetric drug-discovery platform to generate biotherapeutics with the ability to bind to two targets simultaneously in order to potentially create additive or synergistic responses. Privately held Zymeworks will benefit from the financial investment greatly and will focus its efforts on developing its own internal oncology pipeline, with multiple Investigational New Drug approvals anticipated starting from 2016. Bispecific candidates could be developed for a range of indications within oncology, autoimmunity, and inflammatory diseases. If the partnership is successful, Celgene's portfolio will be strengthened considerably with first-in-class therapies.

European Commission Approves Celgene International's Oral OTEZLA for the Treatment of Both Patients with Psoriasis and Psoriatic Arthritis

Celgene International announced that the European Commission has granted marketing authorization for OTEZLA (apremilast), the company’s oral selective inhibitor of phosphodiesterase (PDE4), in two therapeutic indications: For the treatment of moderate-to-severe chronic plaque psoriasis in adult patients who failed to respond to or who have a contraindication to, or are intolerant to other systemic therapy including cyclosporine, methotrexate or psoralen and ultraviolet-A light (PUVA). Alone or in combination with Disease Modifying Antirheumatic Drugs (DMARDs), for the treatment of active psoriatic arthritis (PsA) in adult patients who have had an inadequate response or who have been intolerant to a prior DMARD therapy. OTEZLA is the first in a new class of medicines for the treatment of both psoriasis and psoriatic arthritis, two diseases involving dysregulated immune system activity. Psoriasis is a systemic inflammatory condition characterized by raised scaly lesions on the skin. It affects approximately 14 million people across Europe and about 125 million people worldwide. Plaque psoriasis, also called psoriasis vulgaris, is the most common form of the disease, representing approximately 80% of cases. Additionally, up to 30% of people with psoriasis may develop psoriatic arthritis. Psoriatic arthritis, which is also an immune-mediated disease, is estimated to affect nearly 38 million people worldwide. It is a chronic condition characterized by pain, stiffness, swelling and tenderness of the joints, and a decrease in physical functioning. Enthesitis (inflammation at sites where tendons or ligaments insert into bone) and dactylitis (inflammation of fingers and toes, commonly known as “sausage fingers and toes”) are specific disease manifestations related to psoriatic arthritis, which can contribute to significant disability. The marketing authorization is based on efficacy and safety data from two Phase III programs, ESTEEM AND PALACE, which demonstrate a maintained clinical response among patients with psoriasis (ESTEEM) and psoriatic arthritis (PALACE) treated with OTEZLA® through 52 weeks, across multiple endpoints. In the ESTEEM studies, treatment resulted in significant and clinically meaningful improvements in plaque psoriasis as measured by PASI-75 (a 75% improvement in the Psoriasis Area Severity Index) scores at week 16, the primary endpoint. Patients on apremilast also benefited from significant improvements in difficult to treat areas, such as nail and scalp, and itch, known to have a marked impact on patients’ quality of life and perception of disease severity. In the PALACE program, treatment resulted in significant and clinically meaningful improvements in the signs and symptoms of psoriatic arthritis, as measured by the modified ACR-20 (a 20% improvement in the American College of Rheumatology disease activity criteria) response at week 16, the primary endpoint. Patients on apremilast showed improvement across multiple disease manifestations specific to psoriatic arthritis, such as swollen and tender joints, dactylitis, enthesitis and overall physical function and quality of life. Consistently, across these Phase III clinical studies, the most commonly reported adverse reactions were diarrhoea, nausea, upper respiratory tract infection, tension headache and headache. Gastrointestinal (GI) adverse reactions were mostly mild to moderate in severity, with 0.3% of diarrhoea and 0.3% of nausea reported as being severe. These adverse reactions generally occurred within the first two weeks of treatment and usually resolved within four weeks. Overall, most adverse reactions were considered to be mild or moderate in severity. The EC decision follows the positive opinion issued by the Committee for Medicinal Products for Human Use (CHMP) in November 2014. OTEZLA® will be launched in the European Union in the coming months in accordance with local requirements.


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