Celgene boosts estimates for 2019; second-quarter sales up 15%, topping forecasts

Headline results for the second quarter:

Revenue

$4.4 billion (forecasts of $4.2 billion)

15%

Profit

$1.6 billion

Versus $1 billion

Note: All changes are versus the prior-year period unless otherwise stated

What the company said:

"Outstanding operating performance in the second quarter supports raising our full-year financial guidance," commented CEO Mark Alles.

Other results:

  • Revlimid: $2.7 billion, +11%
  • Pomalyst/Imnovid: $619 million, +22%
  • Otezla: $493 million, +31%
  • Abraxane: $316 million, +30%
  • Other products including Idhifa, Thalomid, Istodax, Vidaza and an authorised generic of Vidaza: $239 million, versus $230 million in prior year

Looking ahead:

Celgene now expects annual revenue in the range of $17.2 billion to $17.4 billion, lifted from an earlier estimate of $17 billion to $17.2 billion, boosted by the performance of Abraxane and Pomalyst, which are now predicted to generate sales this year of around $1.2 billion and about $2.5 billion, respectively. Meanwhile, full-year earnings per share are now seen in the range of $10.65 to $10.85, with both ends of the guidance raised by $0.05.

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