Celgene Sales Miss Estimates on Lung Cancer, Psoriasis Drugs
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Celgene Corp. reported first-quarter revenue that fell short of analysts’ estimates as sales of drugs for lung cancer and psoriasis missed projections. The shares fell.
Revenue increased 20 percent to $2.08 billion, compared with the $2.12 billion analysts had predicted on average. Earnings excluding one-time items rose to $1.07 a share, compared with the $1.06 average estimate, according to data compiled by Bloomberg.