Taking Full Advantage of Spooked Investors
After a virtually uninterrupted upward move since last summer, shares of Celgene (CELG) took a breather last week on concerns of moderating growth. Insiders appear to find those concerns unfounded, with two execs buying the recent dip in Celgene. I agree with them, and am sticking with this past insider-approved winner.
Celgene develops and sells cancer and immune-inflammatory therapies. Revlimid, which generated $3.2 billion in 2011 sales and is projected to bring in $3.8 billion this year, is the company's blockbuster. Other drugs, such as Thalomid and Vidaza have sales well below $1 billion annually, with the former having generated $387 million annually. Also, in late 2010 Celgene also bought the rights to Abraxone, a breast cancer drug with $400 million in sales last year, and the company has four additional drugs undergoing clinical testing. Each of those pipeline drugs appears to face a potentially large market opportunity....532 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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