Celgene: EU panel recommends new Revlimid approval

Associated Press

SUMMIT, N.J. (AP) -- A panel that advises the European Union's chief medical agency is recommending a new approval for the cancer drug Revlimid, the drug's maker, Celgene Corp., said Friday.

The panel recommended that the European Medicines Agency approve Revlimid as a treatment for anemia in patients with certain forms of a group of blood disorders called myelodysplastic syndromes. Celgene said the EU is expected to make a final decision within three months.

Revlimid is approved as a treatment for multiple myeloma, a cancer of the blood, in patients who have been treated with at least one other therapy. It is already approved in the U.S. as a treatment for anemia in MDS patients, and Revlimid is running further trials of the drug to win new marketing approvals. New approvals are a key part of the company's growth plans.

Celgene is studying Revlimid as a treatment for chronic lymphocytic leukemia, non-Hodgkin lymphoma, and myelodysplastic syndromes.

Celgene expects to report about $6 billion in revenue in 2013, with $4.1 billion to $4.2 billion coming from Revlimid sales.

Shares of Celgene rose $2.39, or 2 percent, to $120.34 on Friday.