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Table: EPS watch
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Monday, April 29, 2013
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
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