Introduction
Celgene (NASDAQ:CELG), one of the great successes in all of global business for the past 20 years, reported Q1 results Thursday and provided a business update. With one notable exception, Otezla, there were no surprises. There were also no major clinical trial results announced. Thus, this article will briefly summarize the quarter and updated guidance, with comments on Otezla's downside sales surprise, and then provide a bigger picture perspective on the company and the stock than the earnings release, associated slides, or conference call transcript provide.
Q1 another strong one; guidance raised marginally
EPS were $1.16 this year, up 17% yoy.
Sales were $2.95B, up 18% yoy. Currency effects had a minimal effect on sales, and sales comprise essentially the entirety of revenues.
