Celgene receives E.U. approval for thalidomide drug

The drug, Thalidomide Pharmion, was approved for use in combination with melphalan and prednisone to treat newly diagnosed multiple myeloma, a blood cancer.

Celgene last year received full marketing authorization for its Revlimid oral treatment for multiple myeloma for patients who have received at least one year of prior therapy.

Celgene said it is working with local regulatory authorities to determine next steps or pricing, reimbursement and distribution for Thalidomide Pharmion in all European Union member states.

Shares fell 76 cents to $63.69 during midday trading.