Celgene "buy"

03/26/07 - Lazard Capital Markets

LONDON, March 26 (newratings.com) - Analysts at Lazard Capital maintain their "buy" rating on Celgene Corp (CELG). The target price is set to $70.

In a research note published on March 23, the analysts mention that the EMEA's Committee for Medicinal Products for Human Use issued a positive opinion for Revlimid for myeloma. This positive opinion was based primarily on the results of two pivotal phase 3 trials from the US (MM-009) and the EU (MM-010), the analysts say. Final approval from the European Commission is expected within two-to-three months, Lazard Capital adds.