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Celgene forecasts 2019 EPS, revenue above analysts' consensus estimates

Celgene Corp., the target of a $74 billion takeover by Bristol-Myers Squibb Co., said its adjusted EPS in 2019 is expected to be in the range of $10.60 to $10.80.

That range exceeds the current S&P Global Market Intelligence normalized EPS consensus estimate for the year of $10.32.

Summit, N.J.-based Celgene said it achieved its full-year 2018 adjusted EPS outlook of between $8.75 and $8.80. Analysts are anticipating $8.80, according to the S&P Global Market Intelligence consensus estimate.

The biopharmaceutical company will report its fourth-quarter and full-year 2018 earnings on Jan. 31.

For 2019, Celgene expects total revenue of between $17.0 billion and $17.2 billion, a 12% year-over-year gain. Of this, about $10.8 billion will come from net product sales of its blockbuster blood cancer drug Revlimid, which faces potential revenue loss from looming generic competition.

The S&P Global Market Intelligence normalized EPS consensus estimate for 2019 revenue is $16.9 billion.

Additionally, Celgene reaffirmed its 2020 financial forecast that adjusted EPS will exceed $12.50. Total revenue will probably be in the range of $19.0 billion to $20.0 billion that year, the company added.