S&P Maintains STRONG BUY Rating on Celgene Shares

October 07 00:00 2011

NEW YORK, October 7 (RainbowNewsLine.com): Analyst Steven Silver of S&P Equity Research maintains his STRONG BUY rating on the shares of CELGENE (NASDAQ: CELG).

Analyst Steven Silver, in a research note published yesterday mentions that, the company has received positive opinion from EU for Revlimid after the Article 20 review that resulted in positive ruling in September. Celgene has recorded secondary malignancy rate in 7% newly diagnosed patients and 3.98 % per 100 patients a year who previously treated for myeloma, the analyst says. The analyst expects the drug’s label to indicate such risks and approval of this drug in early treatment stages due to the survival benefits. This can be a key catalyst for the stock, the analyst adds.