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Celgene Targets Doubling of Sales By 2017

Celgene (NASDAQ: CELG  ) has compiled preliminary 2012 results, and provided guidance for future periods that anticipates a doubling of sales by 2017, the company detailed in a press release. For fiscal 2012, the biotech firm believes it will post adjusted, diluted earnings per share of around $4.90, which is at the upper end of its previously-announced guidance range. Net product sales should come in at around $5.4 billion.

For future periods, the company anticipates it will post net product sales of $6 billion in 2013, an 11% increase on a year-over-year basis. Meanwhile, it is expecting EPS of $5.50-$5.60.

For 2017, Celgene has targeted a sales figure of $12 billion, double the expected level of 2013. It is also targeting EPS of $13-$14 that year.

The company will discuss its official 4Q and fiscal 2012 results in a conference call on January 24.

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