Can Celgene’s Most Important Drugs Keep Growing? [The Motley Fool]
CELGENE (CELG)
Last celgene earnings: 10/31 07:30 am
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Source: The Motley Fool
Here's why the company's top-selling drugs could continue driving this biotech superstar's revenue and profit higher. Celgene Corp. ( NASDAQ:CELG ) markets four billion-dollar blockbuster medicines, but only two were behind its stellar sales and profit performance in the second quarter . Sales of Revlimid grew 21% to $2.4 billion, and Pomalyst sales increased 30% to $507 million. Can these multiple myeloma drugs continue to deliver growth for Celgene's investors? Delivering on plans Celgene came into 2018 expecting sales to increase to at least $14.4 billion, and so far, it appears the company is on track to over-deliver on that guidance. IMAGE SOURCE: GETTY IMAGES. In the second quarter, revenue increased 17% to $3.8 billion, and that strength was enough to prompt the company to up its full-year sales outlook to $15 billion. Although three of its four major drugs posted year-over-year revenue growth in the quarter, it was Revlimid and Pomalyst that really
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