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  - 06/24 10:00:04 pm
96.29 USD   -4.34%
06/22 CELGENE : Landmark cancer research consortium announced
06/22 CELGENE : Four NCI Cancer Centers Announce Landmark Research Consort..
06/15 CELGENE : board approves $3 billion stock buyback
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
06/23 CELGENE : joins DNDi's 'Drug Discovery Booster'
06/23 CELGENE : Announces Additional $3 Billion Share Repurchase Authorization
06/22 CELGENE : Landmark cancer research consortium announced
06/22 CELGENE : Four NCI Cancer Centers Announce Landmark Research Consortium and Coll..
06/16 CELGENE : Study Reveals Racial Disparities in Multiple Myeloma Treatment Pattern..
06/16 CELGENE : Pooled Data from Meta-Analysis Suggest Significant Overall Survival Be..
06/15 CELGENE CORP /DE/ : Change in Directors or Principal Officers, Submission of Mat..
06/15 CELGENE : board approves $3 billion stock buyback
06/15DJCELGENE : Upgrades Repurchase Program by $3 Billion
06/15DJCELGENE : Boosts Repurchase Program by $3 Billion
Advertisement
News chart
Full-screen chart
Income Statement Evolution
More Financials