Celgene expects full-year sales of about $2.1 billion

By Associated Press May 8, 2008 Comments (0)

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Biotechnology company Celgene Corp. on Thursday raised its full-year sales estimate to $2.1 billion, a nearly 60 percent increase over 2007 revenue.

Previously, the company forecast a 30 percent increase in revenue to about $1.8 billion.

Analysts polled by Thomson Financial, on average, estimate sales of $2.16 billion in 2008.

Celgene also estimated adjusted earnings per share of about $1.45, including 5 to 10 cents per share in acquisition-related costs.

Analysts, on average, expect a profit of $1.52 per share. Analyst estimates typically exclude one-time, unusual items.

Celgene shares slipped 4 cents to $63.06 in midday trading.

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