Celegene Rose 4.4% on Big Hopes for 2017

Celgene (CELG) has big plans for 2017. During a presentation Monday at the J.P. Morgan 31st Annual Healthcare Conference in San Francisco, the company said it expects sales to double by 2017 to $12 billion as it benefits from efforts to find new therapies and expand uses for older drugs.

Investors applauded, sending Celgene’s share price to a new 52-week high during afternoon market action. The shares closed today at $85.73, a 4.4% gain over the previous close.

Celgene is one of the largest biotech companies in the U.S., with revenue exceeding $5 billion last year. Much of those sales came from the blood cancer drug Revlimid.

By Johanna Bennett

Special Thanks

I need to thank Dr. Jeffrey Scott, cancer Doc and HGSI forum leader, for bringing to our attention the  bright prospects for Celegene , a GWM Core Equity position.