Celgene posts 1st-qtr 2019 sales growth of 14%

US biotech major Celgene (Nasdaq: CELG) reported net product sales of $4,024 million for the first quarter of 2019, a 14% increase from the same period in 2018.

Celgene, the subject of a $74 billion takeover approach from Bristol-Myers Squibb (NYSE: BMY), reported first quarter 2019 total revenue of $4,025 million, a 14% increase, topping analysts’ expectations for $4.01 billion.

Based on US Generally Accepted Accounting Principles (GAAP), Celgene reported net income of $1,545 million and diluted earnings per share (EPS) of $2.14 for the first quarter of 2019. For the first quarter of 2018, GAAP net income was $846 million and diluted EPS was $1.10.