Pretty positive comments on CELG from ISI friday video just out....
ISI made call to own CELG into Pancreatic Cancer Data (which came early) and others did as well – and that was the problem – the stock went up nicely on that great data – but it appears a lot of the money in that stock was in it for a short term trade on the Abraxane data and those folks cleared out especially with the overall biotech tape weak past few weeks (stronger today)/
But let me be clear – this is going to add a $billion a yr to CELG P&L that wasn’t in there – and that’s a billion $ of very, very high operating margin dollars, 70%-80%.
This is going to add at least $1 to the EPS of CELG – this is very, very good news.
MM-020 Front Line Revlimid Myeloma data in Q1 is next key big event. “Binary event”
“But the key to CELG is not only Revlimid – the key is the rest of the pipeline.
Epitomized by Apremilast – PsA data out –- Apremilast for dermatology is going to be very interesting - we have been doing some community dermatology calls lately psoriasis – and we have gotten some VERY positive feedback from them - could be a $500 million to a billion dollar drug in psoriasis alone. Getting paid for Apremilast may be 2013 – 2014 - but perhaps earlier with a very favorable deal with a major player in the dermatology space.
Good downside support – even if for some reason MM-020 doesn’t go well, they still will make $9 EPS in 2015.