Celgene beats Street, raises 2013 guidance

Celgene Corp. (NASDAQ:CELG) raised its full year guidance on Thursday and reported 2Q13 earnings that beat the Street. The company reported 2Q13 adjusted diluted EPS of $1.52, up from $1.22 in 2Q12 and above the Street's $1.44 estimate. Revenues for the quarter were $1.6 billion, up 17% from 2Q12 and ahead of the Street's estimate of $1.54 billion. Sales in the quarter of Revlimid lenalidomide -- which is approved for multiple myeloma (MM), myelodysplastic syndromes (MDS) and mantle cell lymphoma (MCL) -- were $1.1 billion, up 13% over year-ago sales. Celgene reported $66 million in the first full quarter of sales for MM drug Pomalyst pomalidomide, which FDA approved in February.

Celgene raised its 2013 adjusted diluted EPS guidance to $5.80-$5.90 from $5.55-$5.66. The company also raised its full-year net sales guidance to $6.2 billion from $6 billion. The Street was expecting 2013 EPS of $5.77 on full-year sales of $6.2 billion. ...