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Celgene Cancer Drug Sales Fall Short of Quarterly Estimates

Celgene Corp. reported third-quarter sales that were short of analysts estimates as the company’s top cancer drugs didn’t grow as fast as expected. The shares fell in early trading.

Third-quarter profit, excluding one-time items, was $1.23 a share, compared with analysts’ average forecast of $1.22 a share, according to estimates compiled by Bloomberg. Revenue rose to $2.33 billion, the Summit, New Jersey-based company said Thursday in a statement. Analysts had expected $2.4 billion.

The shares fell 3.7 percent to $122.50 at 8:01 a.m. in New York trading before the market opened.

The company reported a net loss of $34.1 million, or 4 cents a share, compared with a net income of $508.5 million, or 61 cents a share, a year ago...


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