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Celgene profit tops estimates on strong cancer drug sales
July 25, 2013 / 11:47 AM / 4 years ago

Celgene profit tops estimates on strong cancer drug sales

(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

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