SAN FRANCISCO — Celgene (CELG) was trading down Monday after the big biotech issued preliminary Q4 results and 2016 guidance that missed expectations, while also unveiling changes at the top of its management. At the annual JPMorgan Healthcare Conference in San Francisco, Celgene said that Q4 EPS totaled $1.18 a share, up 17% from the year-earlier quarter but missing analysts’ consensus by 9 cents, according to Thomson Reuters. Product sales
Big biotech Celgene (CELG) beat analysts’ Q3 earnings expectations but came up short on the top line Thursday morning, sending shares down sharply in early trading. Celgene earnings rose 27% over the year-earlier quarter to $1.23 a share, excluding one-time items, beating analysts’ consensus by a penny. Revenue climbed 18% to $2.33 billion, about $70 million below consensus, according to Thomson Reuters. Celgene affirmed its previous full-year
Valeant Pharmaceuticals (VRX) late Wednesday said it has received subpoenas from U.S. Attorneys in Massachusetts and the Southern District of New York related to drug pricing and how it helps patients pay for drugs. It comes as Valeant and a slew of biotechs such as Biogen (BIIB), Gilead Sciences (GILD), Amgen (AMGN) and Celgene (CELG). Valeant said in a statement: “Most of the materials requested by the subpoenas relate to documents with respect