Celgene Corporation, headquartered in Summit, New Jersey, is an integrated global biopharmaceutical company engaged primarily in the discovery, development and commercialization of novel therapies for the treatment of cancer and inflammatory diseases through gene and protein regulation. For more information, please visit the Company's website at www.celgene.com.
The company is due to report Q4 earnings on 01/31/2008 at 9 A.M. Consensus estimates from those polled at Thomson are expecting a profit of 31c on revenue of $390.4M. The consensus range for EPS is 30c to 33c, with a revenue range of $372M to $408.9M, according to First Call. Historical performance for this company speaks volumes, having beaten estimates by at least a penny over the past seven quarters. This trend, along with positive notes both from Citigroup and JP Morgan, should help Wall Street become bullish on the stock which has a 52wk range of 41.26 - 75.44 (currently trading at 54.00).
Another driver for the bulls on the Celgene story in 2008 appears to be the purchase of Pharmion for $2.9 billion in mid November 2007. The deal is expected to be slightly dilutive to earnings in 2008 and accretive in 2009. Celgene is paying more than 10 times Pharmion's revenue of $256 million over the past 12 months. The acquisition furthers Celgene's strategy of becoming a major global player in blood-cancer drugs, since the deal brings together Revlimid, Thalomid and particularly Vidaza, a treatment for pre-leukemia blood-cell disorders -- three therapies expected to generate multiple global revenue streams over the next five years.
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