January 31, 2019 / 12:41 PM / 24 days ago

Celgene posts 16 pct rise in fourth quarter revenue

Jan 31 (Reuters) - Celgene Corp, which is being bought by Bristol-Myers Squibb Co, reported a nearly 16 percent rise in fourth-quarter revenue on Thursday, driven by higher sales of its blockbuster cancer drug Revlimid and psoriasis treatment Otezla.

The drugmaker posted a net profit of $1.07 billion, or $1.50 per share, for the three months ended Dec. 31, compared with a loss of $81 million, or 10 cents per share, a year earlier, when it took a $1.21 billion charge related to the U.S. tax law overhaul.

Total revenue rose to $4.04 billion from $3.48 billion last year. (Reporting by Manogna Maddipatla in Bengaluru Editing by Saumyadeb Chakrabarty)

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