US biotech Celgene (Nasdaq: CELG) has reported second-quarter 2019 earnings that beat Wall Street expectations. Profit in the latest quarter rose to $1.571 billion, or $2.16 a share, from $1.045 billion, or $1.43 a share, in the year-earlier quarter.
Adjusted earnings per share (EPS) were $2.86, topping the $2.63 a share predicted by FactSet analysts. Revenue rose 15% to $4.4 billion from $3.814 billion a year ago, topping the FactSet consensus of $4.235 billion, said Celgene, currently the subject of a $74 billion takeover by US pharma major Bristol-Myers Squibb (NYSE: BMY).
Celgene’s shares dipped 0.4% to $92.61 by close of trading on Tuesday but edged up 0.o43% to $92.65 pre-market today.
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
7 day trial access
Become a subscriber
Or £77 per month
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
Copyright © The Pharma Letter 2024 | Headless Content Management with Blaze