July 26, 2018 / 11:41 AM / 2 months ago

Celgene quarterly profit drops 5 pct

July 26 (Reuters) - U.S. drugmaker Celgene Corp reported a 5 percent drop in quarterly profit on Thursday, hurt by higher expenses.

Net income fell to $1.05 billion, or $1.43 per share, in the second quarter ended June 30 from $1.10 billion, or $1.36 per share, a year earlier.

The company’s weighted average diluted shares dropped to 732.6 million in the quarter from 811.7 million a year ago.

Reporting by Akanksha Rana and Tamara Mathias; Editing by Arun Koyyur

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