Log in
Login
Password
Remember
Lost password
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  Shares  >  Nasdaq  >  Celgene Corporation    CELG

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Celgene Corporation : Celgene 1st-Quarter Net Down 4.1% Amid Increased Costs

04/25/2013 | 08:25am US/Eastern
   By Ben Fox Rubin 
 

Celgene Corp.'s (CELG) first-quarter profit fell 4.1% as the drug maker saw higher expenses offset stronger revenue from its Revlimid and Vidaza drugs.

The company raised its full-year guidance to a range of $5.55 to $5.65 a share in adjusted earnings from $5.50 to $5.60. It also backed its full-year product sales outlook.

Celgene has continued to post improved revenue, with its flagship blood-cancer treatment Revlimid grabbing more market share and sales of Vidaza, a blood-cancer treatment that lost patent exclusivity in May 2011, continuing to rise in the face of generic competition. The biopharmaceutical company also is expanding its core hematology franchise and building out new product lines in cancer and psoriasis as part of a strategy to achieve $12 billion in product sales by 2017.

Celgene reported a profit of $384.9 million, or 89 cents a share, down from $401.5 million, or 90 cents, a year earlier. Excluding items such as stock-based compensation, per-share earnings rose to $1.37 from $1.08.

Revenue grew 15% to $1.46 billion.

Analysts polled by Thomson Reuters had most recently forecast earnings of $1.35 a share on revenue of $1.47 billion.

Total costs and expenses rose 27%.

Revlimid sales were up 16% to $1 billion while Vidaza sales rose 10% to $204 million.

Shares closed Wednesday at $118.28 and were down 0.2% premarket. The stock has gained 51% so far this year.

Write to Ben Fox Rubin at ben.rubin@dowjones.com

Order free Annual Report for Celgene Corp.

Visit http://djnweurope.ar.wilink.com/?ticker=US1510201049 or call +44 (0)208 391 6028

React to this article
Latest news on CELGENE CORPORATION
08/31DJCBO finds patent-law change could cost health programs $1.3 billion
08/31 Wall Street's worst month in three years ends on a sour note
08/29 Celgene Completes Receptos Acquisition, Big Lots Soars on Outlook
08/27 CELGENE : DE/ : Completion of Acquisition or Disposition of Assets, Financial St..
08/27 CELGENE : Completes Acquisition of Receptos, Advancing Leadership in Immune-Infl..
08/26 CELGENE : to Webcast Upcoming Investor Conferences in September
08/25 CELGENE : Announces Expiration of Cash Tender Offer for Shares of Receptos, Inc.
08/24DJAcorda Therapeutics Shares Surge
08/20 CELGENE : Patent Issued for Inhibition of Drug Resistant Cancer Cells (USPTO 910..
08/19 GlobeImmune Posts 2Q 2015 Results and Corporate Highlights
Advertisement
Chart
Duration : Period :
Celgene Corporation Technical Analysis Chart | CELG | US1510201049 | 4-Traders
Income Statement Evolution
More Financials