10:25 AM
Jan 12, 2018
 |  BC Week In Review  |  Company News  |  Deals

Celgene reports preliminary earnings, adds JAK inhibitor with Impact deal

Celgene Corp. (NASDAQ:CELG) reported preliminary 2017 results and 2018 guidance generally in line with expectations and said it will acquire Impact Biomedicines Inc. (San Diego, Calif.), gaining a late-stage hematology candidate in the process. The financial figures were presented at the J.P. Morgan Healthcare Conference in San Francisco.

The company reported 4Q17 sales of psoriasis drug Otezla apremilast of $371 million, up 22% from 4Q16 and beating consensus of $340.9 million. The company expects Otezla sales to grow 17% in 2018 vs 2017.

Celgene reaffirmed its 2020 guidance, which it lowered by $1-$2 billion in October after reporting $3.3 billion in 3Q17 earnings -- narrower than analysts’ consensus of $3.4 billion (see BioCentury,

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