Celgene Corporation (NASDAQ:CELG) Reports 14% Jump In 4Q EPS


Dallas, Texas 01/31/2014 (FINANCIALSTRENDS) – The $63 billion market capped drug maker Celgene Corporation (NASDAQ:CELG) announced earnings results for its 4th quarter and full year 2013 operations on 30th January. The highlight of the call was the 21 percent increase in the quarter revenue, which were achieved on the back of big surge in the sales of its latest flag ship drug Revlimid. Revenue for the quarter came in at $1.75 billion resulting in a net income of close to $649 million for the quarter. As a result of this big increase in its top line, the Earnings per share went up by a substantive 14 percent to $1.51 as compared to 4Q12.

The call out performance among its big ticket drug offerings was achieved by its anemia related drug Revlimid this quarter. It accounted for close to 65 percent of the total fourth quarter revenue of this drug major by contributing $1.14 billion. Celgene Corporation (NASDAQ:CELG) announced the across the board increase in the sale of Revlimid across all geographies. The good news in the earnings call for the share holders of this company was the fact that the popular drug had clocked a 13 percent growth in both sales and revenue in 4Q as compared to its 4Q12.

Commenting about the big jump in its sales for the full year, Celgene Corporation (NASDAQ:CELG) Chairman of the Board and Chief Executive Officer Robert J. Hugin has been quoted to have said that, “The progress achieved in 2013 positively impacted our prospects in multiple ways. Through our innovative research and development strategies, we have built an extraordinarily high potential, deep and diverse research in Phase 1 pipeline. This pipeline has been created by our internal teams and in collaboration with some of the world’s finest research-based companies and investigators. And the outlook for 2014 is even brighter.”