At least 15 biotechs and pharmas reported earnings last week. Biogen Idec Inc. (NASDAQ:BIIB) and Vertex Pharmaceuticals Inc. (NASDAQ:VRTX) both missed the Street EPS estimates. Biogen, however, ended the week up 8%, adding $2.6 billion in market value. The biotech's 4Q12 EPS figure of $1.40, which missed the Street's $1.46 estimate, included a $0.12 reduction due to a correcting of how the company accounts for taxes on capitalized interest at its Denmark facility. Biogen also said it expects 2013 revenues to grow by 10% over 2012, slightly outpacing the Street's 9% expectation. Vertex, which fell 3%, continues to report weak sales of HCV drug Incivek telaprevir.

Pfizer Inc. (NYSE:PFE) and Merck & Co. Inc. (NYSE:MRK) also had divergent weeks. Pfizer tacked on over $6 billion to its valuation after beating the consensus EPS estimate. In addition, Pfizer's animal health spinout Zoetis Inc. (NYSE:ZTS) completed an IPO last week, gaining 19% from its offering price of $26. Merck lost almost $5 billion despite beating the Street's EPS estimate. The big pharma also announced it would delay regulatory filings for its odanacatib osteoporosis compound until 2014. Merck had said it would file in 1H13. (A) Fiscal 3Q earnings; Mcap in $M