Sanford C. Bernstein Strategic Decisions Conference
June 2, 2016
Forward Looking Statements and Adjusted Financial Information
This presentation contains forward-looking statements, which are generally statements that are not historical facts. Forward-lookingstatements can be identified by the words “expects,” “anticipates,” “believes,” “intends,” “estimates,” “plans,” “will,” “outlook” and similarexpressions. Forward-looking statements are based on management’s current plans, estimates, assumptions and projections, and speakonly as of the date they are made. We undertake no obligation to update any forward-looking statement in light of new information orfuture events, except as otherwise required by law. Forward-looking statements involve inherent risks and uncertainties, most of which aredifficult to predict and are generally beyond our control. Actual results or outcomes may differ materially from those implied by the forward-looking statements as a result of the impact of a number of factors, many of which are discussed in more detail in our Annual Report onForm 10-K and our other reports filed with the Securities and Exchange Commission.
In addition to unaudited financial information prepared in accordance with U.S. GAAP, this presentation also contains adjusted financialmeasures that we believe provide investors and management with supplemental information relating to operating performance and trendsthat facilitate comparisons between periods and with respect to projected information. These adjusted measures are non-GAAP andshould be considered in addition to, but not as a substitute for, the information prepared in accordance with U.S. GAAP. We typicallyexclude certain GAAP items that management does not believe affect our basic operations and that do not meet the GAAP definition ofunusual or non-recurring items. Other companies may define these measures in different ways. Further information relevant to theinterpretation of adjusted financial measures, and reconciliations of these adjusted financial measures to the most comparable GAAPmeasures, may be found on our website at www.Celgene.com in the “Investor Relations” section.
2
Our Mission & Vision
Celgene is building a preeminent global biopharmaceutical company focusedon the discovery, development and
commercialization of innovative therapiesfor unmet medical needs in cancer and
immune-inflammatory diseases
3
A Leading Global Biopharmaceutical Company
4
Unique R&DCapability
• Expertise in hematology, oncology, and immunology
• Diverse technology platforms• Rich pipeline
– 70 programs in preclinical development– 32 treatments in clinical trials– 24 pivotal / phase III programs underway
• Operations in >60 countries• Sales in >70 countries• Manufacturing facilities in U.S. and EU• Key research facilities in NJ, CA, MA,
WA and Spain• ~7,000 employees globally
Global, FullyIntegrated Portfolio of Leading Products
O U R F O C U S
Continuing to Execute on Four Strategic Imperatives
5
Operational excellenceOperational excellence
Capitalizing on strength in Hematology / OncologyCapitalizing on strength in Hematology / Oncology
Driving innovation and long-term growthDriving innovation and long-term growth
Building a leading global Inflammation & Immunology franchiseBuilding a leading global Inflammation & Immunology franchise
18%CAGR
2020 Targets On-Track
Net Product Sales($B)
Adjusted Diluted EPS($)
$9.2
2015 2017E 2020E
$6.75-$7.00
2015 2017E 2020E
>$2118%CAGR1 22%
CAGR23%CAGR1
>$13.00
6
Note: At currency exchange rates on April 28, 20161. ) CAGR calculated from 2015 to 2020.
$12.7-$13.0
$4.71
Celgene Hematology / Oncology Targets High Unmet NeedIndications with a Portfolio of Backbone Therapies
Source: Evaluate Pharma
7
Cel
gene
Hem
/Onc
Foc
us Multiple Myeloma
Myeloid
NHL
CLL
Therapeutic AreaTargeted Market Size ($B)2015E 2020E
$9 $16
$1.5 $2.4
$7 $13
$2 $7
Total $42 $89
Potential Therapies
CC-486
CC-486Solid Tumors $22 $51
Luspatercept
CC-90009
CC-122
CC-122
CC-122
Durvalumab
Durvalumab
VTX-2337Demcizumab
CART
CART
BCMA CART
CC-220
Durvalumab
Durvalumab
CAGR %
12
10
12
29
16
18
Marizomib
PNK-007IDH Platform
Products
• NDMM approvals in US, EU and Japan; early launch metrics strong• Backbone therapy in novel triplet combinations for MM• Ph III NHL program accelerating – first data expected in mid-16
• NDMM approvals in US, EU and Japan; early launch metrics strong• Backbone therapy in novel triplet combinations for MM• Ph III NHL program accelerating – first data expected in mid-16
• Strong US performance with leading market share position• Updated US label reflects overall survival benefit• Global expansion gaining momentum in the EU and Japan
• Strong US performance with leading market share position• Updated US label reflects overall survival benefit• Global expansion gaining momentum in the EU and Japan
• Expanding globally for PanC, mBC and NSCLC• Advancing I/O strategy in NSCLC, TNBC and PanC• Significant Ph III data flow expected beginning in 2017
• Expanding globally for PanC, mBC and NSCLC• Advancing I/O strategy in NSCLC, TNBC and PanC• Significant Ph III data flow expected beginning in 2017
Maximizing the Value of Our Commercial Portfolio
8
• NDMM approvals in US, EU and Japan; early launch metrics strong• Backbone therapy in novel triplet combinations for MM• Ph III NHL program accelerating – first data expected in mid-16
• NDMM approvals in US, EU and Japan; early launch metrics strong• Backbone therapy in novel triplet combinations for MM• Ph III NHL program accelerating – first data expected in mid-16
• Strong US performance with leading market share position• Updated US label reflects overall survival benefit• Global expansion gaining momentum in the EU and Japan
• Strong US performance with leading market share position• Updated US label reflects overall survival benefit• Global expansion gaining momentum in the EU and Japan
• Expanding globally for PanC, mBC and NSCLC• Advancing I/O strategy in NSCLC, TNBC and PanC• Significant Ph III data flow expected beginning in 2017
• Expanding globally for PanC, mBC and NSCLC• Advancing I/O strategy in NSCLC, TNBC and PanC• Significant Ph III data flow expected beginning in 2017
Maximizing the Value of Our Commercial Portfolio
9
Mid-2016
H1:17
H2:17
2018
Trial Expected Data
2018
REMARCDLBCL Maintenance
RELEVANCE®
1ST Line Follicular
AUGMENT®
Rel / Ref Follicular
MAGNIFY®
Rel / Ref Indolent
ROBUST®
ABC DLBCL
Significant Ph III Data Beginning in 2017 Expected to Accelerate Sales
Trial Expected Data
apact®Adjuvant Pancreatic
abound®
NSCLC
IMpower 130*Non-Squamous NSCLC
IMpower 131*Squamous NSCLC
IMpassion 130*TNBC
Momentum Accelerating in Ph III NHL Trials
Robust Life Cycle Programs Expected to Yield Ph III Data Beginning in Mid-16
*Roche Ph III trials in combination with atezolizumab
2017
2017
2018
2017
2017
CELMoDs®: CC-122CC-220
I/O Combos:DurvalumabBCMA CART
Anti-CD47NK Cells
Next-Gen HDACs:Ricolinostat
Next-Gen PI’s:Marizomib
Celgene Drugs in Development
Expanding Leadership in Multiple Myeloma
10
Building on the IMiD® Backbone Across All Lines of Multiple Myeloma
Standard Disease
Aggression
SCTInduction
SCTMaintenance NSCT
2L 3L+NDMM
High Risk / Aggressive
Disease
RVd+/- Mab
RVdRd + Mab
R + Ixa, R + Dara
PdPd + PI
Pd + MabRVdRd + Mab
R
P Triplets
Rd RVd Rd + Mab
R Triplets
P Triplets
Note: Reflects current approved indications and new combinations.
CC-486 Luspatercept IDH Platform
RS+ Low/Int Risk MDS
Beta-Thalessemia
IDH2 Mutant AML
Extending Our Leadership Position in Myeloid Diseases
Broad Phase III Program in MDS, AML and Beta-Thalessemia Underway
Luspatercept
RS+ Low/Int Risk MDS
Beta-Thalessemia
IDH Platform
IDH2 Mutant AML
CC-486
11
Durvalumab CC-90009 PNK-007Development Programs:
Targeting Sizable Markets with a Portfolio of Disruptive Oral Therapies
Source: Evaluate Pharma
12
Cel
gene
I&I F
ocus
Rheumatology
Dermatology
Gastroenterology / IBD
Neuro-Inflammation / MS
$27 $34
$11 $17
$9 $15
$20 $27
Total $67 $93
Targeted Indications
• PsA• Behçet’s• AS
• Psoriasis• Atopic Dermatitis
• CD• UC• EoE
• MS
CC-220
GED-0301
ozanimod RPC-4046
ozanimod
• SLE• Sjogrens
Therapeutic AreaProducts and
Potential Therapies
5
9
11
6
7
CC-292
ABX-1431
ozanimod
Targeted Market Size ($B)2015E 2020E CAGR %
OTEZLA® Market Dynamics Supporting Positive U.S. Launch Performance
13
• Repeat leader in new-to-brand share for both PsA and psoriasis; reaching 38% in PsA and 42% in psoriasis• Persistency similar to biologics and ahead of oral DMARDs
Source: Symphony Prescriber-level data through week ending 31 March 20161. S. Feldman et.al., Comparison of Persistence Between Adults With Psoriasis Initiating Apremilast or Biologics at The 2016 AMCP Managed Care & Specialty Pharmacy Annual Meeting
Psoriasis Market Share Surpassing Enbrel
0%5%
10%15%20%25%30%35%40%45%50%
ENBREL STELARA HUMIRA COSENTYX OTEZLA
OTEZLA®
20%
• At 6 months post-index, persistence to initiated drug was similar between the OTEZLA® and biologic cohorts (OTEZLA®: 67.2%, 95% CI: 63.6–70.5 vs biologics: 68.5%, 95% CI: 66.3–70.6)1
0%5%
10%15%20%25%30%35%40%45%50%
ENBREL HUMIRA STELARA CIMZIAREMICADE SIMPONI OTEZLA
PsA Market Share Continuing to Grow
OTEZLA 15%
Advancing a Robust Life Cycle Plan
14
Milestone Expected Timing
2018
New Indications in Development
Trial Expected Data
Enhancing the Opportunity in PsA and Psoriasis
20162016Bridging StudyOnce daily regimen
Q1:16Q1:16Japan NDA Filing
Q2:16Q2:16Phase IIAtopic Dermatitis
2016/172016/17Phase IIUlcerative Colitis
20162016Ankylosing SpondylitisLong-term follow-up
Phase IIIBehçets Disease 20172017
Q1:16Q1:16PSA-006 Phase IIIPsA biologic-naïve
• Potential first-in-class smad7 anti-sense treatment• Ph III program in CD underway; endoscopic data expected in 2017• Ph II trial in UC initiated
• Potential first-in-class smad7 anti-sense treatment• Ph III program in CD underway; endoscopic data expected in 2017• Ph II trial in UC initiated
• Potential best-in-class next-generation S1P receptor modulator• Ph III trial in UC underway; data expected in 2018• Ph II trial in CD initiated
• Potential best-in-class next-generation S1P receptor modulator• Ph III trial in UC underway; data expected in 2018• Ph II trial in CD initiated
• Novel PDE-4 inhibitor with unique clinical profile• Ph II trial in UC underway• Data expected in late 2016 / early 2017
• Novel PDE-4 inhibitor with unique clinical profile• Ph II trial in UC underway• Data expected in late 2016 / early 2017
Establishing Leadership in Inflammatory Bowel Diseases
15
GED-0301
Ozanimod
Advancing Differentiated Oral Therapies Through Mid-to-Late Stage Trials
Unique Distributed R&D Model Amplifies Internal Strengths
CELGENE PLATFORMS
FibrosisCancer
Stem Cells/Resistance
Immuno‐Oncology
EpigeneticsNext
GenerationBiologics
ProteinHomeostasis
Immunology
Novel IMiDs® /CRBN & OtherUbiquitin Ligase
Targets
New Targets, EpigeneticPriming &
Convergence w/ Metabolic Targets
GDF Family PKC,BTKi,
Novel Targets JNK1,
New Targets,Novel
phenotypic screens
Payload Delivery,Next GenEnhanced Activities
Complementary Approaches to
I/O,Breaking Tumor
ToleranceUnique
Validation / Testing Capabilities fromTumor Tissue
16
PH
Over 50 Potential New Product Approvals Possible Through 2025
CC-486 CC-90009
530
CC-90002
PH
CC-122
Luspatercept
I/O
I/O
EPI
AG-221 /AG-120
RicolinostatRicolinostat
BCMACARTMarizomib
Durvalumab CART
Gen Next-Gen Biologic
CC-220 CC-90005CC-90006
I&I CC-90001 I&II&I
Ozanimod
I&I
I&I I&I EPI
I&I
I&I
I&I
ABX-1431
SotaterceptSotatercept
CC-90010
CC-90003
TKI
EPI
EPI
EPIGen Next-Gen Biologic
Demcizumab
EPII/O
Motolimod
PH EPI
EPI
GED-0301
17
Next-GenBiologic
CC-90008
Hematology I & I Oncology
We Are Well Positioned to Grow Through the Next Decade
18
Total Sales Potential
2015 2030
Commercial Productsand
Mid-to-Late Stage Pipeline
50 Potential New Products
>100 Indications
Data from at Least 18 Phase III Trials Expected by 2018
19
2016 2017 2018
PSA-006Biologic-naïve PsA
ETNANeoadjuvant BC
CONTINUUM®
CLL maintenance
REMARCDLBCL maintenance
apact®Adjuvant PanC
AUGMENT®
RR fNHL
IMpower 130*I/O non-squamous NSCLC
SUNBEAMMS
IMpower 131*I/O squamous NSCLC
RADIANCEMS
RELEVANCE®
1st Line fNHL
OPTIMISMM®
2nd Line+ RRMM
IMpassion 130*I/O TNBC
abound®.sqmSquamous maintenance
RELIEFTM
Behçet’s
ozanimod
ozanimod TRUE NORTHUC
ozanimod
CD-003Crohn’s
GED-0301
CD-002Crohn’s
GED-0301
*Roche Ph III trial in combination with atezolizumab
Positioned For GrowthBeyond 2020
2020 and Beyond: Driving Sustainable, High Growth
On Track to Meet or Exceed 2020 Targets
Expanding, Extending and Establishing Leading Franchises
$4.71
23%CAGR
>$13.00
Adjusted EPS($)
2014 2017E 2020E 2015 2030
20
Total Sales Potential
2016 Anticipated Milestones
Regulatory Submissions/Decisions Submit REVLIMID® in U.S. and EU for maintenance post-ASCT Submit POMALYST® renal impairment data in US and EUX Submit ABRAXANE® for early-stage breast cancer in EU Submit OTEZLA® for PSOR in Japan CHMP opinion on REVLIMID® for MCL
Trial Enrollment Complete enrollment in AUGMENT® – REVLIMID® in RR FL Complete enrollment in apact® – ABRAXANE® in adjuvant PanC Complete enrollment in RELIEF® – OTEZLA® in Behçet’s disease Complete enrollment in ph II trial of CC-486 + pembrolizumab in NSCLC Initiate enrollment in ph I trial of BCMA CART in RRMM Initiate enrollment in FUSION™ program with durvalumab in NDMM,
RRMM, NHL, MDS/AML
Trial Initiations Initiate pivotal trial with CC-122 in NHL Initiate ph III trial with OTEZLA® in AD Initiate second ph III trial with GED-0301 Initiate ph III trial with RPC4046 in EoE
Financial Performance Total Net Product Sales between $10.75 to $11.0 billion1
Net REVLIMID® sales of $6.7 billion1
Adjusted operating margin of ~53.5% Adjusted EPS between $5.60 to $5.701
21
Clinical Data Ph III REMARC – REVLIMID® in DLCBL maintenance Ph III CONTINUUM® – REVLIMID® in CLL maintenanceX Ph III ETNA – ABRAXANE® in neoadjuvant BC Ph III POSTURE® – long-term radiographic data of OTEZLA® in AS Ph III PSA-006 – OTEZLA® in biologic-naïve PsA Ph II CC-122 in NHL Ph II motolimod (VTX-2337) in SCCHN and ovarian cancer Ph II portion of tnAcity® – ABRAXANE® in TNBC Ph II OTEZLA® in AD and UC Ph II CC-220 in SLE Ph II RPC4046 in EoE Pharmacokinetic comparability study – OTEZLA® once-daily formulation
R&ED File at least 8 IND’s Advance at least 2 compounds to mid-to-late stage development
1. Updated Q1:16
Sanford C. Bernstein Strategic Decisions Conference
June 2, 2016
Reconciliation Table
23
2015
2014
Net p
roduct
sales
9,161.
1$
7,563.
8$
Other
reven
ue94.
9
106
.6
To
tal rev
enue
9,256.
0
7,670.
4
Cost o
f good
s sold
(excl
uding
amort
ization
ofacq
uired
intangi
ble as
sets)
420.1
385.9
Resea
rch an
d deve
lopme
nt3,6
97.3
2,4
30.6
Se
lling, g
eneral
and a
dminis
trative
2,305.
4
2,027.
9
Amort
ization
of ac
quired
intang
ible as
sets
279.0
258.3
Acqui
sition
relate
d char
ges an
d rest
ructur
ing, ne
t299
.6
48.
7
To
tal cos
ts and
expens
es7,0
01.4
5,1
51.4
Opera
ting inc
ome
2,254.
6
2,519.
0
Intere
st and
invest
ment
incom
e, net
31.1
28.2
Intere
st (exp
ense)
(310.6
)
(176.1
)
Other
incom
e (exp
ense),
net
48.4
(43.7)
Incom
e befo
re inc
ome t
axes
2,023.
5
2,327.
4
Incom
e tax
provis
ion
421.5
327.5
Net in
come
1,602.
0$
1,999.
9$
Net in
come p
er com
mon s
hare:
Basic
2.02
$
2.49
$
Dilute
d1.9
4$
2.3
9$
Weigh
ted av
erage
shares
:Ba
sic792
.2
802
.7
Dil
uted
824.9
836.0
Balan
ce sh
eet it
ems:
Cash,
cash
equiva
lents &
mark
etable
secur
ities
Total
assets
Short
-term
borro
wings
and cu
rrent
portion
of lon
g-term
debt
Long-
term
debt
Total
stockh
olders
' equity
Twelv
e-Mont
h Peri
ods En
dedDe
cember
31,
Celge
ne C
orpora
tion a
nd Su
bsidia
ries
Cond
ensed
Con
solida
ted St
ateme
nts of
Inco
me(Un
audit
ed)(In
milli
ons, e
xcept
per sh
are da
ta)
Reconciliation Table
24
2015
2014
Net in
come -
GAAP
1,602.
0$
1,999.
9$
Befor
e tax
adjust
ments
: C
ost of
goods
sold (
exclud
ing am
ortiza
tion
of acq
uired
intangi
ble as
sets):
S
hare-b
ased c
ompen
sation
expen
se (1)
31.7
26.2
Rese
arch a
nd dev
elopm
ent:
S
hare-b
ased c
ompen
sation
expen
se(1)
250.7
196.5
U
pfront
collab
oration
expen
se(2)
1,402.
3
453.6
IP
R&D
impair
ment
(3)-
129.2
Selli
ng, ge
neral a
nd adm
inistra
tive:
S
hare-b
ased c
ompen
sation
expen
se(1)
294.2
224.9
S
ettlem
ent of
contin
gent o
bligatio
n(4)
-
25.
0
Amo
rtizatio
n of a
cquire
d intan
gible a
ssets
(5)279
.0
258
.3
Acqu
isition
relate
d (gai
ns) ch
arges
and re
struct
uring,
net:
C
hange
in fair
value
of co
ntingen
t cons
iderat
ion(6)
(7.9)
48.7
A
cquisit
ion co
sts(7)
297.6
-
Rest
ructur
ing ch
arges
(8)9.9
-
Net in
come t
ax adj
ustme
nts(9)
(277.1
)
(263.7
)
Net in
come
- Adju
sted
3,882.
4$
3,098.
6$
Net in
come p
er com
mon s
hare
- Adju
sted
Basic
4.90
$
3.86
$
Dilute
d4.7
1$
3.7
1$
Twelv
e-Mont
h Peri
ods En
dedDe
cember
31,
Celge
ne C
orpora
tion a
nd Su
bsidia
ries
Reco
ncilia
tion o
f GAA
P to A
djuste
d Net
Incom
e(In
milli
ons, e
xcept
per sh
are da
ta)
Reconciliation Table
25
Explanation of adjustments:(1) Exclude share-based compensation expense totaling $150.2 for the three-month period ended December 31, 2015 and $128.4 for the three-month
period ended December 31, 2014. Exclude share-based compensation expense totaling $576.6 for the twelve-month period ended December 31, 2015 and $447.6 for the twelve-month period ended December 31, 2014.
(2) Exclude upfront payment expense for research and development collaboration arrangements.(3) Exclude in-process research and development (IPR&D) impairment recorded as a result of changes in estimated probability-weighted cash flows
related to CC-292.(4) Exclude settlement of a contingent obligation to make matching contributions to a non-profit organization.(5) Exclude amortization of intangible assets acquired in the acquisitions of Pharmion Corp., Gloucester Pharmaceuticals, Inc. (Gloucester), Abraxis
BioScience Inc. (Abraxis), Celgene Avilomics Research, Inc. (Avila), and Quanticel Pharmaceuticals, Inc. (Quanticel).(6) Exclude changes in the fair value of contingent consideration related to the acquisitions of Gloucester, Abraxis, Avila, Nogra Pharma Limited and
Quanticel.(7) Exclude equity compensation and other fees and costs related to the acquisitions of Receptos, Inc. and Quanticel.(8) Exclude restructuring charges related to our relocation of certain operations into our two Summit, NJ locations as well as costs associated
with certain headcount reductions.(9) Net income tax adjustments reflect the estimated tax effect of the above adjustments and the impact of certain other non-operating tax adjustments,
including the effects of acquisition related matters, adjustments to the amount of unrecognized tax benefits, adjustments related to the gain on the sale of an equity investment and nonrecurring items connected with the launch of new products.
In addition to financial information prepared in accordance with U.S. GAAP, this press release also contains adjusted financial measures that we believe provide investors and management with supplemental information relating to operating performance and trends that facilitate comparisons between periods and with respect to projected information. These adjusted financial measures are non-GAAP and should be considered in addition to, but not as a substitute for, the information prepared in accordance with U.S. GAAP. We typically exclude certain GAAP items that management does not believe affect our basic operations and that do not meet the GAAP definition of unusual or non-recurring items. Other companies may define these measures in different ways.