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Celgene profit beats estimates as demand for cancer drugs rise
April 25, 2013 / 11:41 AM / 5 years ago

Celgene profit beats estimates as demand for cancer drugs rise

April 25 (Reuters) - Biotechnology firm Celgene Corp reported a first-quarter profit that edged past analysts’ estimates on strong demand for its cancer drugs, Revlimid and Abraxane, and it raised its 2013 earnings forecast.

Net income fell to $384.9 million, or 89 cents per share, from $401.5 million, or 90 cents per share, a year earlier.

Excluding one-time items, it earned $1.37 per share. Analysts on average expected a profit of $1.35 per share, according to Thomson Reuters I/B/E/S.

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