Celgene Corporation
Jan 11, 2010
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Celgene Corporation Reviews 2009 Achievements and Announces 2010 Financial Outlook

Record Fourth Quarter and Full Year Results Driven By Gains in Global Market Share, Duration of Therapy and Reimbursement Approvals REVLIMID® Fourth Quarter Global Net Product Sales Increased Nearly 35% Y/Y

VIDAZA® Fourth Quarter Global Net Product Sales Increased Nearly 65% Y/Y Full Year Non-GAAP Diluted Earnings Per Share Increased More Than 30 % Y/Y Conducting 20 Phase III and Pivotal Clinical Trials

SUMMIT, N.J., Jan 11, 2010 (BUSINESS WIRE) -- Celgene Corporation (NASDAQ: CELG)

2009 Fourth Quarter Financial Results Year-Over-Year (Unaudited)


2009 Full Year Financial Results Year-Over-Year (Unaudited)



Celgene Forecasts Continued Revenue and Earnings Growth in 2010



Celgene Strategically Positioned for Long-Term Global Growth







Inflammation and Immunology



2009 Corporate Developments



Celgene Corporation (NASDAQ: CELG) reviewed 2009 achievements and provided an outlook for 2010 at the JPMorgan 28th Annual Healthcare Conference. Preliminary 2009 unaudited results indicate that non-GAAP total revenue will increase by approximately 20 percent to approximately $2.67 billion. Non-GAAP diluted earnings per share are expected to increase more than 30% to approximately $2.08. The Company will report its 2009 full-year financial results on Thursday, January 28, 2010.

In 2010, total revenue is targeted to increase approximately 20 percent year-over-year to a range of $3.2 to $3.3 billion, and non-GAAP diluted earnings per share are targeted to increase approximately 25 percent to a range of $2.55 to $2.60.

Non-GAAP Financial Information

Non-GAAP financial measures provide investors and management with supplemental measures of operating performance and trends that facilitate comparisons between periods before and after certain items that would not otherwise be apparent on a GAAP basis. Certain unusual or non-recurring items that management does not believe affect the company's basic operations do not meet the GAAP definition of unusual or non-recurring items. Non-GAAP net income and non-GAAP earnings per share are not, and should not be viewed as a substitute for similar GAAP items. We define non-GAAP diluted earnings per share amounts as non-GAAP net income divided by the weighted average number of diluted shares outstanding. Our definition of non-GAAP net income and non-GAAP diluted earnings per share may differ from similarly named measures used by others.

Webcast Information

A webcast of the Company's JPMorgan 28th Annual Healthcare Conference presentation, scheduled for Monday, January 11, 2010 at 8 a.m. PT (11 a.m. ET), can be accessed by going to the Celgene website, www.celgene.com, and clicking on "Investor Relations", and then "Webcast Event." This event will be archived and accessible until 12 p.m. ET, January 18, 2010.

About Celgene

Celgene Corporation, headquartered in Summit, New Jersey, is an integrated global biopharmaceutical company engaged primarily in the discovery, development and commercialization of novel therapies for the treatment of cancer and inflammatory diseases through gene and protein regulation. For more information, please visit the company's Web site at www.celgene.com.

This release contains forward-looking statements which are subject to known and unknown risks, delays, uncertainties and other factors not under Celgene's control, which may cause actual results, performance or achievements of Celgene to be materially different from the results, performance or other expectations expressed or implied by these forward-looking statements. These factors include results of current or pending research and development activities, actions by the FDA and other regulatory authorities, and other factors described in Celgene's filings with the Securities and Exchange Commission such as its 10-K, 10-Q and 8-K reports.

SOURCE: Celgene Corporation

Celgene Corporation
David Gryska, 908-673-9059
Senior Vice President and Chief Financial Officer
Tim Smith, 908-673-9951
Investor Relations