Celgene (CELG) is the only large-cap biotech that provides investors with long-range financial guidance. It’s a risky strategy that pays off well when the business is humming but can backfire quickly if plans run off the rails.

The latter just happened to Celgene. A weaker outlook for several of its drugs plus one big pipeline blowup forced Celgene to make a deep cut in its 2020 revenue guidance on Thursday.

This is a STAT Plus article and you can unlock it by subscribing to STAT Plus today. It's easy! Your first 30 days are free and if you don't enjoy your subscription you can cancel any time.
Already a subscriber? Log in here.

Leave a Reply to Norman Foster Cancel reply

Please enter your name.
Please enter a comment.

Sign up for our Morning Rounds newsletter

Your daily dose of news in health and medicine.