Positive Results for Celgene's Revlimid (CELG)

Updated results from Celgene's (NASDAQ: CELG) MM-015 study reaffirmed Revlimid's efficacy in improving progression free survival (PFS).

The analysts said, "We believe that the data will
support US and EU filing in front line MM. While US approval will likely have limited impact, as Revlimid is already widely used off label, we believe that in Europe, approval will provide an incremental $1bn opportunity."

Celgene is rated Overweight with a price target of $77.00. CELG is currently trading at $53.44.