Celgene 4Q net slumps on charges, higher spending

Published January 24, 2013 5:58pm ET



Biotech drugmaker Celgene Inc. said Thursday that its fourth-quarter profit fell 36 percent as acquisition and restructuring costs, plus increased spending on research, marketing and administration, offset higher medicine sales.

The maker of Revlimid, for the bone marrow cancer multiple myeloma and certain anemia patients, said net income was $263.1 million, or 61 cents per share. That was down from $410.2 million, or 91 cents per share, in 2011’s last quarter.

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