Celgene (NYSE:CELG) is a pharmaceutical company that develops and sells drugs to treat blood cancers. Its main drugs include Thalomid, which is used to treat multiple myeloma, a cancer of the plasma cell in blood; Revlimid, which is a first-line treatment for myelodysplastic syndrome (MDS); and a family of Ritalin drugs, which are used to treat Attention Deficit Disorder (ADHD). The company generated $2.6 billion in revenue and $777 million in net income in 2009.
However, Revlimid will face its stiffest competition yet when rival company Millemnium's new drug Velcade is approved for use in first-line treatment of multiple myeloma. Velcade has shown much greater efficacy as a first-line treatment in its clinical trials, surpassing the performance of Revlimid, which means it will compete fiercely with Revlimid after it receives FDA approval and enters the market.
Celgene took a step to respond to the challenge posed by Millennium with its acquisition of Pharmion (PHRM). The company expects the Pharmion deal to help it capture additional market share in the treatment of multiple myeloma by incorporating Pharmion's Vidaza into its existing drug portfolio. Unlike Revlimid, which targets low-risk multiple myeloma patients, Vidaza is a popular and effective treatment for high-risk multiple myeloma patients. Potential future combination drugs that include both Vidaza and Revlimid would allow Celgene to increase market share by expanding its targeted patient base.
Celgene sells leading drugs in the fields of hematology (blood cancer) and oncology. Its hallmark drugs include Thalomid, Revlimid, and a family of Ritalin products. Both Thalomid and Revlimid are drugs used in the treatment of multiple myeloma and associated blood cancers.
Multiple myeloma is the second most prevalent of all blood cancers and represents 1% of all cancers and 2% of all cancer deaths. Approximately 63,000 Americans are affected by multiple myeloma, and 14,600 new cases are diagnosed annually. 
Celgene's leading products, Revlimid and Thalomid, have shown consistent strong performance due to their efficacy in treating blood cancers. However, competition from drugs such as MLNM's Velcade and CEPH's Treanda may significantly limit future growth of Revlimid sales.
The following chart shows the drugs in development at Celgene's major competitors that may affect the performance. Celgene's current and future products.