(Reuters) - Celgene Corp on Monday forecast 2018 total revenue that fell short of analysts’ estimates, sending the company’s shares down 3 percent.
The company, which is buying Impact Biomedicines for as much as $7 billion, said it expects full-year revenue of $14.4 billion to $14.8 billion, compared with analysts’ average estimate of $14.83 billion, according to Thomson Reuters I/B/E/S.
Celgene expects 2018 adjusted earnings to be in the range of $8.70 to $8.90 per share, above the average estimate of $8.71 per share.
The company said it expects its blockbuster multiple myeloma drug Revlimid to bring in about $9.4 billion in 2018 sales.
For the fourth quarter ended Dec. 31, Celgene expects total revenue of $3.48 billion, slightly higher than the average estimate of $3.46 billion.
Reporting by Akankshita Mukhopadhyay in Bengaluru; Editing by Savio D'Souza and Saumyadeb Chakrabarty
