Celgene beats estimates in earnings and sales

25 January 2018

Fresh from announcing a huge $9 billion takeover of CAR-T cell therapy specialist Juno Therapeutics, Celgene (Nasdaq: CELG) has announced better-than-predicted results for the last quarter of 2017.

The US biotech group reported adjusted earnings-per-share of $2 and revenues of $3.48 billion, beating Wall Street estimates of $1.97 and $3.46 billion respectively.

Both the quarterly revenue figure and the total for 2017 as a whole – of $13 billion – represent rises of around 16% to 17% compared to the previous year, with Revlimid (lenalidomide), which provides 60% of Celgene’s sales, responsible for much of the growth.

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