Celgene Corporation (CELG – Analyst Report) a leading biopharmaceutical company engaged in the discovery, development and commercialization of drugs targeting cancer and immune/inflammatory diseases. The Summit, NJ based company is well known for Revlimid and oncology products like Vidaza, Istodax, Abraxane, Pomalyst and Thalomid.

However, like many of its peers, Celgene is facing generic competition for several of the important products including Vidaza. In this scenario, investor focus remains on the performance of key products like Revlimid as well as recently approved products like Otezla. Celgene is also looking to expand Revlimid’s label.

Celgene has a pretty good earnings track record with the company delivering positive earnings surprises in three of the last four quarters with an average surprise of 2.08%.

Currently, Celgene has a Zacks Rank #1 (Strong Buy), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:

Earnings: Celgene earnings missed expectations. Our consensus called for EPS of $1.02 and the company reported EPS of $1 (including stock-based compensation expenses).

Revenue: Revenues were slightly above our estimates. Celgene posted revenues of $2.6 billion missing our consensus estimate of $2.5 billion.

Key Stats: Key revenue driver, Revlimid performed well in the fourth quarter. Celgene reiterated its 2016 earnings guidance. The company anticipates adjusted earnings for 2016 in the range of $5.50–$5.70 per share, up 19%.

Net product sales for 2016 are expected to be $10.5–$11 billon, up 17% year over year. Foreign exchange translations are projected to impact revenues negatively by $120 million. Net sales of oncology drug, Revlimid – the key growth driver at Celgene, are projected to be $6.6–$6.7 billion, reflecting a 15% increase.