Celgene provides 2019 profit and sales outlooks above expectations [MarketWatch]
CELGENE (CELG)
Last celgene earnings: 10/31 07:30 am
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Source: MarketWatch
Celgene provides 2019 profit and sales outlooks above expectations Celgene Corp. CELG, +1.06% the biopharmaceutical company that agreed last week to be acquired by Bristol-Myers Squibb Co. BMY, -0.17% in a mega-deal valued at $74 billion , provided 2019 profit and sales outlooks that were above expectations. The company said it expects adjusted earnings per share, which excludes non-recurring items, of $10.60 to $10.80, above the the FactSet consensus of $10.31. Revenue is expected to be $17.0 billion to $17.2 billion, Celgene said, while the FactSet consensus is for $16.95 billion. The company expects 2019 sales of its blockbuster drug Revlimid to rise 11% to about $10.8 billion, compared with the FactSet consensus of $10.85 billion. "Multiple clinical and regulatory milestones are expected in 2019 to advance our late-stage portfolio and accelerate our early-stage pipeline," Chief Executive Mark Alles said. The stock slipped 0.5% in premarket trade, while Bristol-Myers shares e
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