Celgene Affirms 2015 Adj. Earnings, Revenue Outlook - Quick Facts

(RTTNews) - While reporting its financial results for the third quarter today, Celgene Corp. (CELG) lowered its reported earnings outlook for fiscal 2015, but affirmed its forecast for full-year adjusted earnings and revenue.

Looking ahead to fiscal 2015, Celgene now expects earnings in a range of $2.02 to $2.24 per share, down from the prior range of $2.17 to $2.46 per share.

However, the company affirmed its outlook for full-year adjusted earnings of $4.75 to $4.85 per share and total net product sales in a range of $9.0 billion to $9.5 billion.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $4.82 per share for the year on revenues of $9.29 billion. Analysts' estimates typically exclude special items.

Celgene also said that Perry Karsen, Chief Executive Officer of Celgene Cellular Therapeutics or CCT, is retiring at the end of 2015. Karsen's time with Celgene spanned over 10 years.

He served as CEO of CCT since May 2013 and was also Chief Operations Officer from July 2010 until July 2014, and from 2004 to 2009 was Senior Vice President and Head of Worldwide Business Development. Karsen was instrumental in the acquisition of Pharmion in 2008 which brought VIDAZA to the company's portfolio of products.