SUMMIT, N.J.--(BUSINESS WIRE)-- Celgene Corporation (NASDAQ: CELG) reported non-GAAP net income for the quarter ending March 31, 2008, was $159.3 million, or non-GAAP earnings per diluted share of $0.36. Based on U.S. Generally Accepted Accounting Principles (GAAP), Celgene reported net losses of $1.64 billion, or diluted earnings per share of ($3.98) for the quarter ended March 31, 2008. The first quarter of 2008 included an after-tax in-process research and development charge of $1.74 billion associated with the acquisition of Pharmion Corporation, and the after-tax impact of share-based employee compensation expense of $17.5 million, compared to net income in the prior year of $57.4 million or diluted earnings per share of $0.14, including the after-tax impact of share-based employee compensation expense of $7.8 million.
