Exhibit 99.1


Contact:    Robert J. Hugin                       Brian P. Gill
            President and COO                     Senior Director, PR/IR
            Celgene Corporation                   Celgene Corporation
            (908) 673-9102                        (908) 673-9530

               REVLIMID(R) IN COMBINATION WITH DEXAMETHASONE sNDA
           GRANTED APPROVAL BY FDA FOR TREATMENT OF MULTIPLE MYELOMA

            THIRD FDA APPROVAL FOR CELGENE CORPORATION IN SIX MONTHS

SUMMIT, NJ - (JUNE 29, 2006) - Celgene Corporation (NASDAQ: CELG) announced that
the  U.S.  Food and Drug  Administration  (FDA)  has  granted  approval  for its
Supplemental  New Drug  Application  (sNDA)  for an  additional  indication  for
REVLIMID  (lenalidomide),  for  use  in  combination  with  dexamethasone  as  a
treatment  for patients  with  multiple  myeloma who have  received at least one
prior  therapy.  REVLIMID is also  approved for use in the treatment of patients
with    transfusion-dependent    anemia   due   to    Low-or-Intermediate-1-risk
myelodysplastic  syndromes associated with a deletion 5q cytogenetic abnormality
with or without additional  cytogenetic  abnormalities.  Multiple myeloma is the
second most common blood cancer in the United  States,  affecting  approximately
50,000  people.  About 14,600 new cases of multiple  myeloma are diagnosed  each
year and about 12,000 Americans are expected to die of multiple myeloma in 2006.

In the REVLIMID (lenalidomide)/dexamethasone treatment group, 151 patients (45%)
underwent  at least one dose  interruption  with or without a dose  reduction of
REVLIMID (lenalidomide) compared to 21% in the  placebo/dexamethasone  treatment
group. Most adverse events and Grade 3 or 4 adverse events were more frequent in
patients who received the  combination of REVLIMID  (lenalidomide)/dexamethasone
compared to placebo /dexamethasone.

"The FDA  approval  of  REVLIMID  offers a new oral  therapeutic  option to this
particular group of patients with multiple  myeloma," said Graham Burton,  M.D.,
SVP, Regulatory Affairs and Pharmacovigilance for Celgene.

REVLIMID will be available in the following  strengths:  5 mg, 10 mg, 15 mg, and
25 mg capsules.




SAFETY NOTICE:
- --------------
WARNINGS:
- ---------

1. POTENTIAL FOR HUMAN BIRTH DEFECTS.
- -------------------------------------

LENALIDOMIDE  IS AN  ANALOGUE  OF  THALIDOMIDE.  THALIDOMIDE  IS A  KNOWN  HUMAN
TERATOGEN  THAT  CAUSES  SEVERE   LIFE-THREATENING   HUMAN  BIRTH  DEFECTS.   IF
LENALIDOMIDE IS TAKEN DURING  PREGNANCY,  IT MAY CAUSE BIRTH DEFECTS OR DEATH TO
AN UNBORN  BABY.  FEMALES  SHOULD BE ADVISED  TO AVOID  PREGNANCY  WHILE  TAKING
REVLIMID(R) (LENALIDOMIDE).

SPECIAL PRESCRIBING REQUIREMENTS

BECAUSE OF THIS  POTENTIAL  TOXICITY  AND TO AVOID  FETAL  EXPOSURE  TO REVLIMID
(LENALIDOMIDE),  REVLIMID  (LENALIDOMIDE)  IS ONLY  AVAILABLE  UNDER  A  SPECIAL
RESTRICTED DISTRIBUTION PROGRAM. THIS PROGRAM IS CALLED  "REVASSIST(SM)".  UNDER
THIS PROGRAM,  ONLY PRESCRIBERS AND PHARMACISTS  REGISTERED WITH THE PROGRAM CAN
PRESCRIBE AND DISPENSE THE PRODUCT.  IN ADDITION,  REVLIMID  (LENALIDOMIDE) MUST
ONLY BE DISPENSED TO PATIENTS WHO ARE  REGISTERED AND MEET ALL THE CONDITIONS OF
THE REVASSIST(SM) PROGRAM.

2. HEMATOLOGIC TOXICITY (NEUTROPENIA AND THROMBOCYTOPENIA).
- -----------------------------------------------------------

THIS DRUG IS  ASSOCIATED  WITH  SIGNIFICANT  NEUTROPENIA  AND  THROMBOCYTOPENIA.
EIGHTY  PERCENT OF PATIENTS  WITH DELETION 5Q  MYELODYSPLASTIC  SYNDROMES HAD TO
HAVE A DOSE  DELAY/REDUCTION  DURING  THE MAJOR  STUDY.  THIRTY-FOUR  PERCENT OF
PATIENTS  HAD TO HAVE A SECOND DOSE  DELAY/REDUCTION.  GRADE 3 OR 4  HEMATOLOGIC
TOXICITY WAS SEEN IN 80% OF PATIENTS ENROLLED IN THE STUDY.  PATIENTS ON THERAPY
FOR  DELETION 5Q  MYELODYSPLASTIC  SYNDROMES  SHOULD HAVE THEIR  COMPLETE  BLOOD
COUNTS  MONITORED  WEEKLY FOR THE FIRST 8 WEEKS OF THERAPY AND AT LEAST  MONTHLY
THEREAFTER.  PATIENTS MAY REQUIRE DOSE INTERRUPTION  AND/OR REDUCTION.  PATIENTS
MAY REQUIRE USE OF BLOOD PRODUCT SUPPORT AND/OR GROWTH FACTORS.  (SEE DOSAGE AND
ADMINISTRATION)

3. DEEP VENOUS THROMBOSIS AND PULMONARY EMBOLISM.
- -------------------------------------------------

THIS  DRUG  HAS  DEMONSTRATED  A  SIGNIFICANTLY  INCREASED  RISK OF DEEP  VENOUS
THROMBOSIS  (DVT) AND PULMONARY  EMBOLISM (PE) IN PATIENTS WITH MULTIPLE MYELOMA
WHO WERE TREATED WITH REVLIMID (LENALIDOMIDE)  COMBINATION THERAPY. PATIENTS AND
PHYSICIANS   ARE  ADVISED  TO  BE  OBSERVANT  FOR  THE  SIGNS  AND  SYMPTOMS  OF
THROMBOEMBOLI(SM).  PATIENTS  SHOULD BE  INSTRUCTED TO SEEK MEDICAL CARE IF THEY
DEVELOP  SYMPTOMS  SUCH  AS  SHORTNESS  OF  BREATH,  CHEST  PAIN,  OR ARM OR LEG
SWELLING.  IT IS NOT KNOWN WHETHER PROPHYLACTIC  ANTICOAGULATION OR ANTIPLATELET
THERAPY  PRESCRIBED IN CONJUNCTION WITH REVLIMID  (LENALIDOMIDE)  MAY LESSEN THE
POTENTIAL FOR VENOUS  THROMBOEMBOLIC  EVENTS.  THE DECISION TO TAKE PROPHYLACTIC
MEASURES SHOULD BE DONE CAREFULLY AFTER AN ASSESSMENT OF AN INDIVIDUAL PATIENT'S
UNDERLYING RISK FACTORS.

YOU CAN GET  INFORMATION  ABOUT REVLIMID  (LENALIDOMIDE)  AND THE  REVASSIST(SM)
PROGRAM ON THE  INTERNET AT  www.REVLIMID.com  OR BY CALLING THE  MANUFACTURER'S
TOLL-FREE NUMBER AT 1-888-423-5436.



IMPORTANT SAFETY INFORMATION

HYPERSENSITIVITY:  REVLIMID(R) (LENALIDOMIDE) IS CONTRAINDICATED IN ANY PATIENTS
WHO HAVE DEMONSTRATED HYPERSENSITIVITY TO THE DRUG OR ITS COMPONENTS.

RENAL  IMPAIRMENT:  REVLIMID  (LENALIDOMIDE)  IS  SUBSTANTIALLY  EXCRETED BY THE
KIDNEY,  SO THE RISK OF TOXIC REACTIONS MAY BE GREATER IN PATIENTS WITH IMPAIRED
RENAL FUNCTION. BECAUSE ELDERLY PATIENTS ARE MORE LIKELY TO HAVE DECREASED RENAL
FUNCTION,  CARE  SHOULD BE TAKEN IN DOSE  SELECTION,  AND IT WOULD BE PRUDENT TO
MONITOR RENAL FUNCTION.

NURSING MOTHERS: IT IS NOT KNOWN WHETHER REVLIMID  (LENALIDOMIDE) IS EXCRETED IN
HUMAN MILK. BECAUSE OF THE POTENTIAL FOR ADVERSE REACTIONS IN NURSING INFANTS, A
DECISION SHOULD BE MADE WHETHER TO DISCONTINUE  NURSING OR THE DRUG, TAKING INTO
ACCOUNT THE IMPORTANCE OF THE DRUG TO THE MOTHER.

OTHER ADVERSE EVENTS:  MULTIPLE  MYELOMA  (REVLIMID/DEXAMETHASONE)  CONSTIPATION
(39%),  FATIGUE  (38%),  INSOMNIA  (32%),  MUSCLE CRAMP (30%),  DIARRHEA  (29%),
NEUTROPENIA (28%),  ANEMIA (24%),  ASTHENIA (23%),  PYREXIA (23%), NAUSEA (22%),
HEADACHE ((21%),  PERIPHEAL EDEMA (21%),  DIZZINESS (21%), DYSPNEA (20%), TREMOR
(20%),  DECREASED WEIGHT (18%),  THROMBOCYTOPENIA  (17%),  RASH (16%), BACK PAIN
(15%), HYPERGLYCEMIA (15%), AND MUSCLE WEAKNESS (15%).
DELETION 5Q MDS (REVLIMID):  DIARRHEA (49%), PRURITUS (42%), RASH (36%), FATIGUE
(31%),  CONSTIPATION  (24%),  NAUSEA (24%),  NASOPHARYNGITIS  (23%),  ARTHRALGIA
(22%),  PYREXIA (21%),  BACK PAIN (21%),  PERIPHERAL  EDEMA (20%),  COUGH (20%),
DIZZINESS  (20%),  HEADACHE  (20%),  MUSCLE  CRAMP  (18%),  DYSPNEA  (17%),  AND
PHARYNGITIS (16%).

ABOUT REVLIMID(R)

REVLIMID is a member of a proprietary  group of novel  immunomodulatory  agents.
Celgene  continues to evaluate  REVLIMID in a broad range of  hematological  and
oncological conditions. The IMiDs(R) pipeline, including REVLIMID, is covered by
a  comprehensive  intellectual  property  estate of U.S. and foreign  issued and
pending patent applications including composition-of-matter and use patents.

REVLIMID is indicated for use as a treatment in combination  with  dexamethasone
for  previously  treated  multiple  myeloma.  REVLIMID  is  also  indicated  for
treatment  of  patients  with  transfusion-dependent   anemia  due  to  low-  or
intermediate-1-risk  myelodysplastic  syndromes (MDS) associated with a deletion
5q cytogenetic abnormality with or without additional cytogenetic abnormalities.

ABOUT REVASSIST(SM)

FOR FURTHER INFORMATION ABOUT REVLIMID AND THE RevAssist PROGRAM,  YOU MAY GO TO
THE  INTERNET AT  www.REVLIMID.com  OR BY CALLING THE  MANUFACTURER'S  TOLL FREE
NUMBER   1-888-4CELGENE.   RevAssist(SM)   is  a   proprietary   risk-management
restrictive  distribution program,  tailored specifically for REVLIMID patients,
to  prevent  the  potential  for human  birth  defects  and  ensure  prompt  and
convenient access to REVLIMID.

ABOUT MULTIPLE MYELOMA

Multiple  myeloma  (also known as myeloma or plasma cell myeloma) is a cancer of
the blood in which malignant  plasma cells are  overproduced in the bone marrow.
Plasma cells are white blood




cells that help produce antibodies called  immunoglobulins  that fight infection
and  disease.  However,  most  patients  with  multiple  myeloma have cells that
produce a form of  immuno-globulin  called  paraprotein (or M protein) that does
not benefit the body.  In addition,  the malignant  plasma cells replace  normal
plasma  cells and other  white  blood  cells  important  to the  immune  system.
Multiple  myeloma  cells can also attach to other  tissues of the body,  such as
bone, and produce tumors. The cause of the disease remains unknown.

In the year 2005, there were  approximately  200,000 people worldwide  suffering
from multiple  myeloma.  An estimated  74,000 new cases of multiple  myeloma are
expected in 2006. The estimated  number of deaths from multiple myeloma expected
in 2006 is approximately  60,000 worldwide.  Average survival time for a patient
diagnosed with multiple myeloma is about three to four years.

ABOUT MYELODYSPLASTIC SYNDROMES

Myelodysplastic  syndromes  (MDS) are a group of hematologic  malignancies  that
affect approximately 300,000 people worldwide.  Myelodysplastic  syndromes occur
when blood cells  remain in an immature or "blast"  stage within the bone marrow
and never  develop  into mature  cells  capable of  performing  their  necessary
functions.   Eventually,  the  bone  marrow  may  be  filled  with  blast  cells
suppressing  normal cell development.  According to the American Cancer Society,
10,000 to 20,000 new cases of MDS are diagnosed  each year in the United States,
with mean survival rates ranging from  approximately six months to six years for
the  different  classifications  of MDS. MDS  patients  must often rely on blood
transfusions   to  manage  symptoms  of  anemia  and  fatigue  and  may  develop
life-threatening iron overload and/or toxicity from frequent transfusions,  thus
underscoring  the critical  need for new  therapies  targeting  the cause of the
condition rather than simply managing its symptoms.

ABOUT DELETION 5q CHROMOSOMAL ABNORMALITY

Chromosomal  (cytogenetic)  abnormalities  are  detected  in more  than  half of
patients with  myelodysplastic  syndrome (MDS), and involve a deletion in all or
part  of  one  or  more  specific  chromosomes.   The  most  common  cytogenetic
abnormalities  in MDS are deletions in the long arm of chromosomes 5, 7, and 20.
Another  common  abnormality  is an  extra  copy  of  chromosome  8. A  deletion
involving  the 5q  chromosome  may be  involved  in 20 to 30  percent of all MDS
patients.  The World Health  Organization has also recently  identified a unique
subset  of MDS  patients  with a  "5q-  Syndrome"  where  the  only  chromosomal
abnormality is a specific portion of the 5q chromosome.

WEBCAST

Celgene will host a conference call on June 30, 2006 at 8:30 a.m. EDT to discuss
the FDA  approval of  REVLIMID(R).  The  conference  call will be  available  by
webcast at  www.celgene.com.  An audio replay of the call will be available from
noon EDT June 30, 2006 until  midnight EDT July 10, 2006.  To access the replay,
dial 1-800-642-1687 and enter Reservation Number 2521167.

ABOUT CELGENE

Celgene  Corporation,  headquartered  in Summit,  New Jersey,  is an  integrated
global  pharmaceutical  company engaged primarily in the discovery,  development
and  commercialization  of innovative  therapies for the treatment of cancer and
inflammatory diseases through gene and




protein regulation. For more information, please visit the Company's website
at www.celgene.com.

REVLIMID(R) is a registered trademark of Celgene Corporation. RevAssist(SM) is a
service mark of Celgene Corporation.

THIS RELEASE CONTAINS FORWARD-LOOKING  STATEMENTS WHICH ARE SUBJECT TO KNOWN AND
UNKNOWN RISKS,  DELAYS,  UNCERTAINTIES AND OTHER FACTORS NOT UNDER THE COMPANY'S
CONTROL,  WHICH MAY CAUSE ACTUAL  RESULTS,  PERFORMANCE OR  ACHIEVEMENTS  OF THE
COMPANY  TO BE  MATERIALLY  DIFFERENT  FROM THE  RESULTS,  PERFORMANCE  OR OTHER
EXPECTATIONS  EXPRESSED OR IMPLIED BY THESE  FORWARD-LOOKING  STATEMENTS.  THESE
FACTORS  INCLUDE  RESULTS  OF  CURRENT  OR  PENDING   RESEARCH  AND  DEVELOPMENT
ACTIVITIES,  ACTIONS  BY THE FDA AND  OTHER  REGULATORY  AUTHORITIES,  AND OTHER
FACTORS  DESCRIBED IN THE  COMPANY'S  FILINGS WITH THE  SECURITIES  AND EXCHANGE
COMMISSION SUCH AS OUR 10K, 10Q AND 8K REPORTS.

                                      # # #