Celgene also has a series of drugs it's investigating for treating several diseases from multiple sclerosis to blood cancer. Celgene also is involved with other companies developing early stage drugs. History tells us that not all of these investments will work pan out but the opportunities are usually structured in a way that the funding comes through milestone payments allowing Celgene to only pay if the drug succeeds.
None of this guarantees that Celgene is entirely without risk. Celgene's stock has lost a third of its value in the past month due to a single pipeline setback combined with weak quarterly earnings. But I believe that a long term investor like myself sees this as a buying opportunity. Celgene is a successful company with strong cash flow, a solid balance sheet, and plenty of upside in the years to come.