Celgene Corp.

CELG, + 3.39%

the biopharmaceutical company that accepted last week to make the acquisition of Bristol-Myers Squibb Co.

BMY, + 2.73%

in a mega deal valued at $ 74 billion, provided earnings and sales prospects for 2019 better than expected. The company said it expects an adjusted earnings per share, which excludes non-recurring items, from $ 10.60 to $ 10.80, higher than the FactSet consensus of $ 10.31. Revenues are expected to be between $ 17.0 billion and $ 17.2 billion, said Celgene, while the FactSet consensus is $ 16.95 billion. The company expects that sales in 2019 of its flagship drug Revlimid will increase by 11% to about $ 10.8 billion, compared to the Factset consensus of $ 10.85 billion. "A number of clinical and regulatory milestones are expected in 2019 to advance our portfolio in the final phase and accelerate our pipeline early," said Mark Alles, Managing Director. Action fell 0.5% in pre-market trading, while Bristol-Myers trade edged up 0.2%. Despite a 21% hike last Thursday after the announcement of the transaction between Bristol and Myers, Celgene shares have still lost 19.1% over the last 12 months until Friday, while the # 39, Dow Jones Index

DJIA, + 0.68%

lost 7.4%.

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