Biogen Inc.
Hambrecht & Quist analyst Wole Fayemi downgraded Biogen Inc. to "underperform" from "hold" and reiterated a "buy" on Centocor Inc. after Phase III clinical setbacks for Ciba-Geigy's Hirudin. TIMI-9, the Phase III clinical program for Hirudin in angioplasty, and GUSTO II, the Phase III trial for myocardial infarction, have been put on hold due to bleeding issues, specifically a high intracranial bleed (stroke) rate.