Biotech
Biotech Earnings Review: Celgene, Biogen
05/09/08 - 03:51 PM EDT
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For more on Cephalon, check out this recent headline from TheStreet.com:
Celgene: May 8
Factoring out a $1.74 billion charge related to the acquisition of Pharmion, Celgene reported adjusted profit of $159.3 million, or 36 cents a share. Sales of multiple myeloma (MM) drug Revlimid totaled $286.8 million, surpassing analysts' expectations of $272 million, and helping total revenue rise 58% to $462.5 million. Results surpassed the Thomson Reuters target of 34 cents a share on revenue of $444 million. The company updated its guidance to include the Pharmion acquisition, which closed on March 8. It's expecting adjusted profit of $1.45 a share, including a 5-cent to 10-cent dilution from the Pharmion acquisition, on revenue of roughly $2.1 billion, a 60% increase year over year. (Prior to factoring the acquisition into guidance, the company expecting between $1.50 a share and $1.55 a share on total revenue of $1.8 billion.) For more on Celgene, check out this headline from TheStreet.com:But the biotech beats Wall Street estimates on an adjusted basis, when factoring out expenses related to Pharmion.
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