Celgene Corp’s multiple myeloma drugs and expanded use of the cancer treatment Abraxane have driven a 25% rise in profits for the second quarter.

Net income came in at $597.8 million, while revenues increased 17% to $1.87 billion. Revlimid (lenalidomide), which is also approved for myelodysplastic syndromes (MDS), generated $1.21 billion, up 15%, although Vidaza (azacitidine), which is approved for MDS and acute myeloid leukaemia, fell 28% to $152 million due to generic competition in the USA.

The breast and lung cancer drug Abraxane (nab-paclitaxel) saw sales leap 39% to $215 million, helped by launches on both sides of the Atlantic pancreatic cancers. Celgene's new MM drug Pomalyst/Imnovid (pomalidomide) brought in $161 million, up 143% and the company has raised its full-year revenues guidance to $7.60 billion, versus a prior forecast of $7.54 billion.

Chief executive Bob Hugin said the results “demonstrate the significant momentum of our portfolio and support raising our 2014 guidance”. He added that “we look forward to multiple milestones in the second half of the year”, including the expansion of Otezla (apremilast) into psoriasis. The latter was recently launched for psoriatic arthritis and contributed $5 million to Celgene’s coffers.