At least 21 biotechs and pharmas reported earnings last week. While big biotechs Alexion Pharmaceuticals Inc. (NASDAQ:ALXN) and Biogen Idec Inc. (NASDAQ:BIIB) added $3.8 billion in aggregate market value after posting EPS that beat the Street's estimates, Amgen Inc. (NASDAQ:AMGN) and Celgene Corp. (NASDAQ:CELG) together gave back $3.1 billion. Celgene also announced that pomalidomide missed the primary endpoint in the Phase III RESUME trial to treat myeloproliferative-neoplasm-associated myelofibrosis (see B17). Amgen beat the consensus EPS estimate, but revenues of $4.2 billion were below the Street's estimate of $4.4 billion.

AbbVie Inc. (NYSE:ABBV) gained $5.5 billion in market value after reporting earnings for the first time since being spun out of Abbott Laboratories (NYSE:ABT) at the start of 2013. The pharma reported EPS and revenues that beat the Street. Ironwood Pharmaceuticals Inc. (NASDAQ:IRWD) fell 12% after reporting a loss per share and revenues that missed the Street's estimates. Ironwood and partner Forest Laboratories Inc. (NYSE:FRX) reported $4.5M in net sales in the first full quarter of sales for gastrointestinal drug Linzess linaclotide, which was launched in December 2012. (A) Fiscal 4Q earnings; Mcap in $M