At least seven biotechs and pharmas reported earnings last week. Chinese companies 3SBio Inc. (NASDAQ:SSRX), WuXi PharmaTech Inc. (NYSE:WX) and Simcere Pharmaceutical Group (NYSE:SCR) all reported 4Q11 EPS that beat the Street's estimates, and added more than $140 million in aggregate market value on the week. Biosimilars play 3SBio and laboratory and manufacturing services company Wuxi also posted 4Q11 revenues that beat consensus estimates, and were up 21% and 7%, respectively. While Simcere missed the consensus revenue estimate, the pharma reported a 13% decrease in sales, marketing and distribution expenses to RMB287.4 million ($45.7 million). Simcere ended the week up 7%. Mcap in $M          

Company

4Q11 EPS est

4Q11 EPS actual

Outcome

Growth from 4Q10

3/9 cls

Wk chg

% chg

Mcap chg

3/9 Mcap

Cornerstone Therapeutics Inc. (NASDAQ:CRTX)

$0.04

-$0.10

Missed by $0.14

NA

$5.25

$0.24

5%

$6.2

$135.4

The company reported diluted EPS of $0.03 in 4Q10. 4Q11 revenues dropped 44% to $18.2M from $32.5M in 4Q10. The Street was expecting $25.1M. Cornerstone said revenues were negatively affected by its withdrawal of propoxyphene-containing pain drugs at FDA's request after new data showed that propoxyphene increases the risk for serious abnormal heart rhythms (see BioCentury, Dec. 6, 2010). 4Q11 sales of respiratory distress drug Curosurf poractant alfa were down 4% to $9.5M. Cornerstone also announced it divested its anti-infective assets Factive gemifloxacin mesylate and Spectracef cefditoren pivoxil, thus completing the company's migration out of primary care. CEO Craig Collard said the "transaction will allow us to reduce SG&A expense and increase profitability."