Celgene Corporation (NASDAQ: CELG) reported net product sales of $1,564 million for the second quarter of 2013, a 17 percent increase from the same period in 2012. Adjusted net income for the second quarter of 2013 increased 20 percent to $653 million compared to $545 million in the second quarter of 2012. Second quarter total revenue was $1,599 million compared to $1,367 million in second quarter of 2012. For the same period, adjusted diluted earnings per share (EPS) increased 25 percent to $1.52 from $1.22.
Based on U.S. GAAP (Generally Accepted Accounting Principles), Celgene reported second quarter of 2013 net income of $478 million or $1.11 per diluted share. For the second quarter of 2012, net income was $367 million or $0.82 per diluted share.
“In the second quarter, the Celgene team delivered outstanding results,” said Bob Hugin, Chairman and Chief Executive Officer of Celgene Corporation. “The positive outcome of the MM-020 trial along with other clinical and regulatory milestones met in the quarter represent significant advances for patients worldwide and support our commitment to our long-term growth outlook.”
2013 Adjusted Diluted EPS, Net Product Sales and REVLIMID ® Net Product Sales Guidance Raised
- Adjusted diluted EPS guidance is raised to a range of $5.80 to $5.90 from the previous range of $5.55 to $5.65, an increase of approximately 19% over 2012 adjusted diluted EPS.
- GAAP diluted EPS is expected to be in the range of $4.17 to $4.31 which includes upfront payment expense for collaborations.
- Total Net Product Sales guidance is raised to approximately $6,200 million from $6,000 million, an increase of approximately 15 percent over 2012 Total Net Product Sales.
- REVLIMID ® Net Product Sales guidance is raised to a range of $4,200 million to $4,300 million, from the previous range of $4,100 million to $4,200 million, an increase of approximately 13 percent over 2012 REVLIMID ® Net Product Sales.