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UPDATE 1-Celgene quarterly revenue misses estimates, shares drop

(Adds details on results, analysts estimates, shares)

Oct 26 (Reuters) - Celgene Corp's quarterly revenue missed Wall Street estimates on Thursday, hurt by weaker-than-expected sales of its flagship multiple myeloma drug Revlimid and psoriasis drug Otezla.

The U.S. biotechnology company's shares fell more than 11 percent to $106.50 in premarket trading.

Celgene said sales of its blockbuster Revlimid rose 10 percent to $2.08 billion in the third quarter ended Sept. 30.

But that missed analysts average estimates of $2.11 billion, according to brokerage Cowen and Company.

Sales of Otezla grew 12 pct to $308 million, again missing analysts estimates of $411 million.

As a result, Celgene's total revenue of $3.29 billion was also short of analysts estimate of $3.42 billion, according to Thomson Reuters I/B/E/S.

Profit rose to $988 million, or $1.21 per share, from $171 million, or 21 cents per share, a year earlier. (Reporting by Akankshita Mukhopadhyay in Bengaluru; Editing by Savio D'Souza)