Jefferies Reiterates Buy on Celgene Corporation

Jefferies reiterates Buy on Celgene Corporation

. In a research report published today, Jefferies commented on the company's Revlimid product. In the report, Jefferies states, "While we agree with the Street that an increase in protocol-specified Revlimid maintenance duration in the IFM-DFCI trial would be an incremental positive, especially in light of recent French concerns over Revlimid maintenance duration, we do not see the absence of an amendment as a major negative. Based on our discussions with CELG, we believe that a protocol amendment has at least been proposed, and we assume most likely proposed by the U.S. DFCI investigators... We would view any change as a gauge of French sentiment towards Revlimid maintenance, but we note the IFM-DFCI study is of limited importance in quantifying the actual benefit of Revlimid maintenance, given that both arms in the study receive the same maintenance regimen, be it 12 or 24 months." On Monday, Celgene added 2.97% to its value to end the day at $59.59.