Sales of Celgene's multiple myeloma drug could triple if use broadens

There must be holiday cheer in the executive suite at biotech Celgene (CELG), where the stock is up 15% over last year. The Summit, N.J.-based company's cancer pill Revlimid generated $1.3 billion in sales last year. And it did so as a backup therapy for patients with the blood cancer multiple myeloma who don't respond to other options.

Now, the drug could see its sales triple after the company releases new data next week suggesting Revlimid could emerge as a first-time treatment for myeloma, Bloomberg reports, in a development that could push aside Johnson & Johnson's (JNJ) drug Velcade. Bloomberg reports that preliminary information from a study of Revlimid as a first-line treatment indicates the drug might help patients live longer. The research also shows that Revlimid bested Velcade's results in a similar trial, the news agency says. Cancer experts say that if the results are in Revlimid's favor, it could "change the standard of care."