Celgene 3Q Profit Surges On Cancer Drug Sales

SUMMIT, N.J. (AP) — Biotech drugmaker Celgene Corp. said Thursday its third-quarter profit surged 58 percent on a boost in sales of the cancer drugs Revlimid and Vidaza.

The company earned $216.8 million, or 46 cents per share, up from profit of $136.8 million, or 29 cents per share, during the same period a year prior. Revenue rose 17 percent to $695.1 million from $592.5 million.

Excluding charges, the company said it earned 56 cents per share. Analysts polled by Thomson Reuters expected profit of 54 cents per share on revenue of $671.2 million.

Worldwide Revlimid sales rose 31 percent to $450 million, while Vidaza sales rose 62 percent to $103 million. The company also reported $110 million in Thalomid sales.

Shares of Celgene rose $2.24, or 4.1 percent, to $58.82 in morning trading. The stock has traded between $36.90 and $66.50 over the last 52 weeks.