(Reuters) - Biotechnology firm Celgene Corp (CELG.O) reported a quarterly profit above analysts’ estimates as demand for its cancer drugs, Revlimid and Abraxane, remained strong, and the company raised its full-year earnings forecast for the second time.
Second-quarter net income rose to $478.1 million, or $1.11 per share, from $367.4 million, or 82 cents per share, a year earlier.
Excluding one-time items, it earned $1.52 per share. Analysts on average expected a profit of $1.44 per share, according to Thomson Reuters I/B/E/S.
Reporting by Esha Dey in Bangalore; Editing by Sreejiraj Eluvangal