Results show Celgene in fine fettle ahead of B-MS takeover

31 January 2019

Bristol-Myers Squibb (NYSE: BMY) takeover target Celgene (Nasdaq: CELG) has impressed investors with a better-than-forecast result for the last three months of 2018, propelled largely by psoriasis drug Otezla (apremilast).

For the fourth quarter of 2018, revenue amounted to $4 billion, up 16% on the same period from 2017. Total revenue for the year was up 18% at $15 billion.

Based on generally accepted accounting principles (GAAP), the firm posted net income of over a billion dollars, and an earnings per share (EPS) figure of $1.50, for fourth quarter. Full year GAAP net income was $4 billion.

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