Celgene provides peek at 2013 financials, 2014 outlook

Celgene Corp. (NASDAQ:CELG) on Monday provided a preliminary look at its 2013 financial results, introduced 2014 EPS and sales guidances and raised its prior guidance for 2015 and 2017. The biotech said it now expects 2013 revenues of $6.5 billion, net product sales of $6.4 billion and 2013 adjusted diluted EPS of about $5.96. In October, Celgene said it expected net product sales would exceed $6.2 billion and full-year EPS of $5.90-$5.95. The Street is expecting an EPS of $6 on 2013 revenues of $6.4 billion. Celgene is slated to provide full 2013 financial results on Jan. 30.

Celgene also introduced 2014 guidance and raised its previous long-term guidance for 2015 and 2017. The biotech said it expects 2014 revenues of $7.5 billion, net product sales of about $7.3-$7.4 billion and adjusted diluted EPS of $7-$7.20. The Street is expecting 2014 EPS of $7.29 on revenues of $7.4 billion. The biotech also now expects 2015 net product sales of $8.5-$9.5 billion and adjusted diluted EPS of $9-$9.50, and 2017 net product sales of $13-$14 billion and EPS of about $15. Celgene previously said it expected 2015 net sales of $8-$9 billion and EPS of $8-$9, and 2017 net sales of more than $12 billion and EPS of $13-$14. ...