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

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

Delayed Quote. Delayed  - 05/27 09:59:59 pm
106.43 USD   +0.61%
05/27 Novartis, Foundation Medicine, Celgene Invest in Healthcare Infor..
05/24DJNant Health Seeks $82 Million in IPO
05/20DJChina Drug Deal Will Slash Prices of Top-Selling Treatments by Up..
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

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

share with twitter share with LinkedIn share with facebook
share via e-mail
0
04/25/2013 | 02:25pm CEST
   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

share with twitter share with LinkedIn share with facebook
share via e-mail
0
React to this article
Latest news on CELGENE CORPORATION
05/27 Novartis, Foundation Medicine, Celgene Invest in Healthcare Informatics Firm ..
05/24DJNant Health Seeks $82 Million in IPO
05/20DJChina Drug Deal Will Slash Prices of Top-Selling Treatments by Up to 67%
05/20 CELGENE CORPORATION : to Webcast at Upcoming Investor Conferences
05/19 CELGENE : Pancreatic Cancer Action Network Joins More Than 40 Global Pancreatic ..
05/19 IMMUNOVIA AB : Immunovia Joins More Than 40 Global Pancreatic Cancer Organizatio..
05/19 1986-1990
05/18 CELGENE : Announces Presentations of Investigational Studies in Solid Tumor and ..
05/18 AGIOS PHARMACEUTICALS : Celgene agree to establish metabolic immuno-oncology all..
05/18 AGIOS PHARMACEUTICALS : Updates 2016 Financial Guidance
Advertisement
News chart
Full-screen chart
Income Statement Evolution
More Financials