Twenty-two profitable biotechs and pharmas lost more
than $28 billion in market value between the end of 1Q10, when the U.S.
healthcare reform bill was enacted, and May 5, the day after the last of the
companies reported the impact of the legislation on their 1Q10 financials as
well as its effect on 2010 earnings guidance, as noted below. (A) Market cap
the day after the company released its earnings; (B) May 5 was the day after
the last company in the table reported earnings, so the market caps do not
reflect impact of the market meltdown on Thursday, May 6; Mcap in $M
|
Company
|
Mcap
post-earnings (A)
|
Mcap
chg since 3/31
|
%
chg since 3/31
|
1Q10
healthcare reform impact
|
FY10
healthcare reform impact
|
|
Abbott
Laboratories (NYSE:ABT)
|
$79,371
|
-$1,739
|
-2%
|
$0.03
per share charge or $60M reduction as a result of higher Medicaid rebates
|
Lowered
non-GAAP EPS projection to $4.13-$4.18 from $4.20-$4.25
|