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

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

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04/25/2013 | 02:25pm CET
   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

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Financials ($)
Sales 2017 13 287 M
EBIT 2017 7 462 M
Net income 2017 4 856 M
Debt 2017 2 897 M
Yield 2017 -
P/E ratio 2017 21,46
P/E ratio 2018 17,45
EV / Sales 2017 7,21x
EV / Sales 2018 6,18x
Capitalization 92 936 M
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Mean consensus OUTPERFORM
Number of Analysts 29
Average target price 141 $
Spread / Average Target 18%
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Managers
NameTitle
Mark J. Alles Chief Executive Officer & Director
Jacqualyn A. Fouse President, Chief Operating Officer & Director
Robert J. Hugin Executive Chairman
Peter N. Kellogg Chief Financial Officer & Executive Vice President
Joseph S. Camardo Senior Vice President-Global Medical Affairs
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