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Zacks Analyst Interview Highlights: Celgene, Regeneron, Myriad Genetics, Alkermes and Trimeris

Zacks.com releases the latest Analyst Interview. Todays interview is with senior analyst Grant Zeng, who discusses Celgene (Nasdaq: CELG), Regeneron (Nasdaq: REGN), Myriad Genetics (Nasdaq: MYGN), Alkermes (Nasdaq: ALKS) and Trimeris (Nasdaq: TRMS).

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Were there any surprises this quarter from companies in your coverage?

During this quarter, some companies surprised me in either total revenue or earnings per share. Some surprised me with specific product sales.

One example is Celgene (Nasdaq: CELG). Net product sales in 1Q08 were $417.6 million, higher than our estimate of $409.7 million. Total revenue in 1Q08 was $448.8 million, versus our estimate of $434.4 million. Adjusted earnings per share (EPS) were $0.29, versus our estimate of $0.28 per share. Much of the surprise came from sales of the companys key product Revlimid. 1Q08 sales of Revlimid were $286.8 million, $6.8 million higher than our estimate of $280 million.

Another positive example is Regeneron (Nasdaq: REGN). In 1Q08, total revenue was $56.4 million, way higher than our estimate of $35 million. Actual loss per share in 1Q08 was -$0.15 versus our estimate of -$0.21 per share. Myriad Genetics (Nasdaq: MYGN) also surprised me with higher 1Q08 predictive medicine sales ($59 million versus our estimate of $58.5 million).

On the negative side, Alkermes (Nasdaq: ALKS) surprised me with less than expected total revenue. In fiscal 4Q08 ended March 2008, total revenue came in at $62.4 million, $10.1 million short of our estimate of $72.5 million.

Another negative example is Trimeris (Nasdaq: TRMS). Total revenue in the 1Q08 was $42.7 million, way lower than our estimate of $66 million. The shortage is mainly due to lackluster sales of its product Fuzeon, which was $17 million, versus our estimate of $28.5 million.

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