Celgene Slips Further on Weak Outlook

Updated from 3:10 p.m. EST

SAN FRANCISCO -- Celgene (CELG Quote) offered 2009 financial guidance that fell below consensus expectations, as uncertainty over the global economy and the looming health-care reform in the U.S. weighed on management's outlook.

The Summit, N.J.-based drugmaker forecast 2009 earnings in the range of $2.05 per share to $2.15 per share, below the consensus view of $2.29 per share, according to Thomson Reuters.

Total revenue for 2009 is expected to reach $2.6 billion to $2.7 billion, Celgene said. Again, the forecast was below the consensus forecast of $2.9 billion. ...