Looking ahead into the full year 2019, the company still expects adjusted earnings in the range of $10.65 to $10.85 per share. However, Celgene lowered its earnings forecast to the range of $8.39 to $9.10 per share from the previous range of $8.71 to $9.44 per share.
For the third quarter, Revlimid sales increased 13% driven primarily by the adoption of triplet therapy for myeloma resulting in increases in treatment duration and market share. Pomalyst/Imnovid sales jumped 29% on the adoption of triplet therapy for myeloma resulting in increases in treatment duration and market share.
Otezla sales climbed 27% on the increase in US demand and continued uptake in key international markets. Abraxane sales increased by 10% on increased demand due to immuno-oncology combinations in non-small cell lung cancer (NSCLC) and triple-negative breast cancer (TNBC).
The pending merger between Bristol-Myers Squibb (NYSE: BMY) and Celgene is expected to close by the end of 2019. Due to the pending transaction, Celgene is not hosting a conference call in conjunction with its Q3 2019 earnings release and does not expect to do so for future quarters.