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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 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

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Financials ($)
Sales 2017 13 259 M
EBIT 2017 7 526 M
Net income 2017 4 419 M
Debt 2017 2 800 M
Yield 2017 -
P/E ratio 2017 22,60
P/E ratio 2018 17,46
EV / Sales 2017 7,74x
EV / Sales 2018 6,37x
Capitalization 99 867 M
Chart CELGENE CORPORATION
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Celgene Corporation Technical Analysis Chart | CELG | US1510201049 | 4-Traders
Technical analysis trends CELGENE CORPORATION
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Consensus
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Mean consensus OUTPERFORM
Number of Analysts 27
Average target price 150 $
Spread / Average Target 18%
EPS Revisions
Managers
NameTitle
Mark J. Alles Chief Executive Officer & Director
Scott Andrew Smith President & Chief Operating Officer
Robert J. Hugin Executive Chairman
Peter N. Kellogg Chief Financial Officer & Executive Vice President
Joseph S. Camardo Senior Vice President-Global Medical Affairs
Sector and Competitors
1st jan.Capitalization (M$)
CELGENE CORPORATION10.28%99 867
AMGEN14.42%122 067
GILEAD SCIENCES0.70%94 170
REGENERON PHARMACEUTICALS26.41%50 145
VERTEX PHARMACEUTICALS101.07%37 346
ACTELION22.00%30 302