The negative net impact of currency on net product sales was 2%.
The company gave guidance for the full year as $4.60 to $4.75 in EPS and total sales in the range of $9.0 billion to $9.5 billion. The consensus estimates are $4.81 EPS and 9.32 billion in revenue for the year.
Adjusted research and development expenses were $431 million for the first quarter, compared to $358 million in the first quarter of 2014.
In terms of the company’s segments, compared to the previous year, Celgene reported:
- Revlimid had total revenues of $1.34 billion, up 17.4%.
- Abraxane had total revenues of $223.4 million, up 20.9%.
- Pomalyst/Imnovid had total revenues of $198.5 million, up 46.4%.
- Vidaza had total revenues of $143.6 million, down 3.2%.
- Azacitidine had total revenues of $20.6 million, up 12.0%.
- Otezla had total revenues of $60.3 million.
- Thalomid had total revenues of $46.9 million, down 19.1%.
- Isotdax had total revenues of $16.5 million, up 2.5%.
All others had total revenues of $2.5 million.
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Bob Hugin, chairman and CEO of Celgene, said:
Our first quarter results reflect the strength of our product portfolio and we expect the multiple global regulatory approvals achieved during the quarter to drive near term growth. Our continued investments in our franchises, innovative therapies and technologies position us for sustained growth beyond 2020.
In the first quarter, Celgene purchased approximately 9.5 million of its shares at a total cost of roughly $1.13 billion. At the end of March, Celgene had $2.01 billion remaining under its stock repurchase program.
Operating cash flow was $858 million in the first quarter of 2015. Celgene ended the quarter with $7.31 billion in cash, cash equivalents and marketable securities.
Shares of Celgene closed Wednesday down 0.3% at $113.20. In premarket trading Thursday after earning came out, shares were down another 2.3% at $110.60. The stock has a consensus analyst price target of $138.74 and a 52-week trading range of $71.32 to $129.06.
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