Celgene Updates 2016 Guidance And 2017 Targets - Quick Facts

(RTTNews) - Celgene Corp. (CELG) announced, for fiscal 2016, the company now expects adjusted EPS in a range of $5.88 to $5.92 compared to prior guidance of $5.70 to $5.75. Total Net Product Sales are expected to be approximately $11.2 billion, compared to prior outlook of approximately $11.0 billion. Analysts polled by Thomson Reuters expect the company to report profit per share of $5.77 on revenue of $11.07 billion. Analysts' estimates typically exclude special items. REVLIMID sales are expected to approximately $7.0 billion compared to previous guidance of approximately $6.8 billion. Net product sales guidance for POMALYST/IMNOVID, ABRAXANE and OTEZLA remain unchanged.

For 2017, Celgene expects adjusted EPS to be at the high end of the range of $6.75 to $7.00. Total net product sales are expected to be at the high end of the range of $12.7 billion to $13.0 billion. REVLIMID net sales are expected to be more than $8.0 billion versus the previous target of approximately $8.0 billion.

Third-quarter adjusted net income was $1.26 billion or $1.58 per share compared to $1.01 billion or $1.23 per share for the third quarter of 2015. Third quarter net product sales were $2.97 billion, a 28 percent increase from the same period in 2015. Net product sales growth includes a 1 percent negative impact from currency exchange effects.