Here's Why I'm Not Selling My Celgene Shares [The Motley Fool]
CELGENE (CELG)
Last celgene earnings: 10/31 07:30 am
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Source: The Motley Fool
The company could be about to get back on track following some high-profile stumbles. Celgene Corp. ( NASDAQ:CELG ) is one of biotech's largest companies, but that hasn't kept shares from falling in the past year because of disappointments and missteps. In the past year, the company's market cap has been cut in half because of headwinds, yet I've got no intention of selling my stake. Read on to learn why I plan to hold onto this biotech Goliath. Why it's tumbled Celgene has had a tough 12 months. The failure of a promising Crohn's disease drug in phase 3 trials and slowing sales growth for its psoriasis drug, Otezla, forced management to lower its long-term sales outlook for 2020 to at least $19 billion from $21 billion or more. Then, the FDA refused to accept ozanimod's application for approval in multiple sclerosis patients, waylaying the most promising drug in Celgene's pipeline. IMAGE SOURCE: GETTY IMAGES. It's not all bad news These stumbles hav
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