Celgene sold the rights because this was not their main area of focus & didn't expect this division to produce profits for many years. By selling it, CELG is able to focus on their drug pipeline & other divisions which have a more immediate potential return for the co. By selling this division celgene also reduces losses incurred by this division which should help a drop on the loss per share. The 7.5 Mill probably goes to earnings in 1998, which should make the P&L look better for '98.
I have also heard that approval is expected on Thalidomide shortly. The rumor is probably related to the co. meeting with the FDA within the past 2 weeks
This is probably the fairest article I've seen in a while. It's also the first time Celgene has publicly stated a possible number of patients they are expecting in the first goaround. If my estimates are correct & Celgene is correct that 10,000 patients is a conservative estimate, then we should see a minimum of 2.5 Million in revenues a month from thalomid. My only question now, is why is it taking so long?