At least 14 profitable biotechs and pharmas reported earnings last week. Gilead Inc. (NASDAQ:GILD) lost $3.6 billion in market value after it lowered its FY10 guidance to reflect the impact of U.S. healthcare reform legislation. Gilead lowered its 2010 product sales guidance to $7.4-$7.5 billion from $7.6-$7.7 billion. Mcap in $M. (A) Fiscal 4Q ended March 31; (B) Fiscal 2Q ended March 31

Company

1Q10 EPS est

1Q10 EPS actual

Outcome

Growth from 1Q09

4/23 cls

Wk chg

% chg

Mcap chg

4/23 Mcap

Abbott Laboratories (NYSE:ABT)

$0.80

$0.84

Beat by $0.04

15%

$51.20

-$1.06

-2%

-$1,643.0

$79,360.0

The company's 1Q10 EPS figure excludes a $0.03 per share reduction due to the impact of U.S. healthcare reform, which included $60M in higher Medicaid rebates. And Abbott lowered its FY10 non-GAAP EPS guidance to $4.13-$4.18 from $4.20-$4.25 to reflect the impact of healthcare reform. 1Q10 sales increased 14.6% to $7.7B from $6.7B in 1Q09. Global sales of Humira adalimumab increased 36.5% to $1.4B from $1B in 1Q09. Humira is marketed for autoimmune conditions including rheumatoid arthritis (RA) and plaque psoriasis. Figures include a positive foreign currency exchange impact.

Actelion Ltd. (SIX:ATLN)

NA

CHF1.38

NA

39%

CHF46.39

-CHF1.41

-3%

-$193.9

$5,574.2

1Q10 revenues were CHF501.7M ($471.3M), up 28% in local currencies from CHF405.6M in 1Q09. First quarter sales of Tracleer bosentan for pulmonary arterial hypertension (PAH) were CHF405.2M ($380.6M), up 19% from CHF352.2M in the same period last year.

Alexion Pharmaceuticals Inc. (NASDAQ:ALXN)

$0.34

$0.37

Beat by $0.03

48%

$56.27

$1.40

3%

$123.9

$4,980.2

1Q10 sales of Soliris eculizumab for paroxysmal nocturnal hemoglobinuria (PNH) increased 45% to $117.6M from $81.3M in 1Q09. Alexion reiterated its FY10 revenue and non-GAAP EPS guidance of $505-$520M and $1.60-$1.65, respectively.

Amgen Inc. (NASDAQ:AMGN)

$1.23

$1.30

Beat by $0.07

20%

$58.88

-$1.84

-3%

-$1,806.9

$57,820.2