(Adds analyst comment, sales details, share move)

Oct 23 (Reuters) - U.S. biotechnology company Celgene Corp on Thursday reported third-quarter profit rose 37 percent on a double-digit jump in sales of its flagship multiple myeloma drug Revlimid, and raised its full-year earnings forecast.

Revlimid sales increased 19 percent to $1.3 billion as patients were using the medicine for a longer duration. Analysts looked for sales of $1.26 billion.

A U.S. Food and Drug Administration decision is expected in February on whether Revlimid can be used as a first-line, or initial, therapy rather than after a prior treatment has failed and could significantly boost sales next year.

The company now expects 2014 earnings, excluding items, of $3.65 to $3.70 per share, up from $3.60 to $3.65 per share. It forecast full-year revenue exceeding its previous forecast of $7.60 billion.

Celgene posted net profit jumped to $508 million, or 61 cents per share, from $372 million, or 43 cents per share on a stock split adjusted basis, a year ago.

Excluding one-time items, Celgene earned 97 cents a share, exceeding the average analyst estimate by 2 cents, according to Thomson Reuters I/B/E/S.

"Overall the numbers were good, a couple pennies above expectations with a little boost to the guidance. It's ho hum, but solid," said Cowen and Co analyst Eric Schmidt.

Revenue totaled $1.98 billion, versus the Wall Street estimate of $1.96 billion.

Sales of Abraxane for breast, lung and pancreatic cancer rose 25 percent to $212 million, but shy of analysts' estimates of $232 million.

The company expects full-year Revlimid sales to slightly exceed $4.95 billion and Abraxane sales to reach $850 million.

Celgene's newer multiple myeloma drug Pomalyst had sales of $181 million for the quarter, topping Wall Street estimates of $176 million. But its newest drug, Otezla, for psoriatic arthritis posted sales of just $18 million.

"Revlimid and Pomalyst were particularly strong. Otezla is having a difficult time getting some traction," Schmidt said.

Celgene shares rose 0.6 percent to $95.39 in premarket trading.

(Reporting by Bill Berkrot in New York; Editing by W Simon, Chizu Nomiyama and Jeffrey Benkoe)