Biotechnology
4Q Earnings Preview: Celgene Looks Strongest
Celgene has best trends. We believe 4Q Revlimid sales will reach or exceed our $480 mn estimate (consensus is ~$475 mn). If true, Revlimid will be on an ~$2 bn annual run rate, making 2010 consensus of $2.12 bn readily achievable (several new country launches, recent positive data, and potential price increases). 2010 guidance is key for Celgene (next week), and while 2009 missteps make it likely guidance will tilt conservative, we believe the high-end of guidance may include consensus, which is better than the Street expects and could provide stock upside.
Full Report here
http://www.scribd.com/doc/24871396?secret_password=9fpol49hbmp2hed2s1r
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