Celgene Raises 2018 Revenue Guidance To High End Of Previous Range

(RTTNews) - Celgene Corp. (CELG) announced the company now expects 2018 total revenue of approximately $14.8 billion (previous guidance was $14.4 to $14.8 billion). With dilution from Juno, the company now expects adjusted EPS of approximately $8.45. The company's previous 2018 guidance did not include the impact of its acquisition of Juno, which was expected to be dilutive to adjusted diluted EPS in 2018 by approximately $0.50.

Mark Alles, CEO of Celgene, said: "Strong global demand and excellent commercial execution drove our exceptional first quarter results, leading to improvement in our 2018 financial guidance. With multiple catalysts for growth expected over the next 12 to 18 months, we are reaffirming our 2020 outlook."

First-quarter adjusted EPS increased 23 percent to $2.05 (inclusive of approximately $0.05 dilution from the Juno acquisition) from $1.67, prior year. Net product sales were $3.53 billion, a 20 percent increase from the same period in 2017. REVLIMID sales for the first quarter increased 19 percent to $2.23 billion. Total revenue was $3.54 billion, a 19 percent increase from prior year.