Cephalon, Celgene beat Street
Cephalon Inc. (NASDAQ:CEPH) and Celgene Corp. (NASDAQ:CELG) both reported 3Q10 financial results on Thursday that beat the Street's estimates. Cephalon reported 3Q10 adjusted diluted EPS of $2.14, beating by $0.34 the Street's estimate of $1.80 and up 32% from $1.62 in 3Q09. Third quarter sales increased 32% to $707.1 million. Cephalon also updated its full-year guidance and now expects sales of $2.69-$2.73 billion and adjusted basic EPS of $8.20-$8.40. Cephalon previously expected sales of $2.63-$2.71 billion and EPS of $7.45-$7.65. The company also introduced 2011 sales guidance of $2.96-$3.04 billion and adjusted basic EPS of $8.45-$8.65. Cephalon, which made the announcement after market close, was up $0.94 to $66.52.
Celgene reported 3Q10 non-GAAP diluted EPS of $0.75, beating by $0.04 the Street's estimate of $0.71 and up 34% from $0.56 in 3Q09. Third quarter non-GAAP revenues rose 31% to $910.1 million. Sales of Revlimid lenalidomide for multiple myeloma (MM) and myelodysplastic syndromes (MDS) rose 43% to $641.3 million. Sales of Vidaza azacitidine for MDS, chronic myelomonocytic leukemia (CMML) and acute myelogenous leukemia (AML) rose 37% to $141.4 million. ...