Celgene: Solid Top-Line Growth Owing To Volume Traction, Although Pricing Marginally Negative In International Markets [Seeking Alpha]
CELGENE (CELG)
Last celgene earnings: 10/31 07:30 am
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US:NASDAQ Investor Relations:
ir.celgene.com
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Source: Seeking Alpha
Summary Celgene Corporation ( CELG ) had a solid Q3 '18, beating both the revenue and the EPS estimates of the Street. CELG has corrected significantly (c50%) from its early 2017 high (currently at c$75 compared to c$145 in February 2017), resulting in a forward price to earnings multiple of 6.9x. As we have highlighted in this report, the recent growth seen by the company should garner it a higher PE. However, that will only happen when the new management gains the trust of the market and turns around in an industry where regulatory hurdles abound. One positive outcome in this quarter is the strong performance in Otezla. We highlight this in a later section. The total revenues were ahead by $47m coming at the $3,892m vs. the consensus expectation of $3,845. The yoy growth in revenue (c18.5%) was primarily driven by volume (14.7%) and price (4.3%), while FX impact resulted in a minor detraction of 0.5%. The volume increase was primarily a result of increase in volumes in key d
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