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

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 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 [email protected]

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 2018 14 917 M
EBIT 2018 8 454 M
Net income 2018 4 829 M
Debt 2018 6 033 M
Yield 2018 -
P/E ratio 2018 12,02
P/E ratio 2019 9,48
EV / Sales 2018 4,13x
EV / Sales 2019 3,02x
Capitalization 55 529 M
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Technical analysis trends CELGENE CORPORATION
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 29
Average target price 114 $
Spread / Average Target 49%
EPS Revisions
Managers
NameTitle
Mark J. Alles Chairman, President, CEO & COO
Peter N. Kellogg Executive VP, Chief Financial & Accounting Officer
Joseph S. Camardo Senior Vice President-Global Medical Affairs
Jay T. Backstrom Chief Medical Officer
Rupert J. Vessey President-Research & Early Development
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