Celgene shares rise on Thalomid approval

Shares of Celgene were buoyed in overnight trading by news that the FDA had approved Thalomid as a therapy for the blood cancer multiple myeloma. Thalomid had originally been approved for leprosy but quickly found its market in off-label use for multiple myeloma, a disease that is expected to kill 12,000 Americans this year. Thalomid is the trade name for thalidomide, which early on became notorious for triggering severe birth defects among pregnant women.

- here's the report on Thalomid from TheStreet.com