Celgene Updates 2017 Guidance - Quick Facts

(RTTNews) - Celgene Corp. (CELG) announced the company now expects 2017 adjusted EPS in the range of $7.30 to $7.35, up from prior guidance range of $7.25 to $7.35. Total Revenue is now expected to be approximately $13.0 billion. Earlier, the company estimated total revenue in a range of $13.0 to $13.4 billion.

In consideration of certain market dynamics and recent pipeline events, the company updated its 2020 outlook. The company now expects adjusted EPS to be above $12.50. Previously, the company projected adjusted EPS to be be above $13.00. Total Net Product Sales are now expected to be in the range of $19.0 to $20.0 billion. Previously, the company targeted net product sales to be above $21.0 billion.

For third-quarter, adjusted EPS increased 21 percent to $1.91 from $1.58. Net product sales were $3.28 billion, an 11 percent increase from the same period in 2016. Celgene reported third quarter of 2017 total revenue of $3.29 billion, a 10 percent increase compared to $2.98 billion in the third quarter of 2016.