At least 21 biotechs and pharmas reported earnings last week. Gilead Sciences Inc. (NASDAQ:GILD) is nearing $100 billion in market cap after adding $3.8 billion last week. The bellwether beat the Street's revenue estimate and also gained on news that FDA had placed a partial clinical hold on Phase II HCV compound VX-135 from Vertex Pharmaceuticals Inc. (NASDAQ:VRTX) (see B16). Gilead's sofosbuvir (GS-7977), another HCV NS5B polymerase inhibitor, is under Priority Review in the U.S. for chronic HCV. Three other large-cap biopharmaceuticals - Biogen Idec Inc. (NASDAQ:BIIB), Celgene Corp. (NASDAQ:CELG) and Shire plc (LSE:SHP; NASDAQ:SHPG) - reported EPS and revenues that beat consensus estimates. However, Biogen Idec ended the week down 3%, while Celgene gained 6%, adding $3.3 billion in market value, and Shire was up 6%, adding $1 billion. Big pharma Eli Lilly and Co. (NYSE:LLY) added $3.1 billion in market value, or 5%, after reporting consensus-beating EPS. Tool supplier Illumina Inc. (NASDAQ:ILMN) also posted EPS that beat the Street's estimate, ending the week up 10%. (A) Fiscal 1Q; (B) Fiscal 3Q; Mcap in $M

Company

2Q13 EPS est

2Q13 EPS actual

Outcome

Growth from 2Q12

7/26 cls

Wk chg

% chg

Mcap chg

7/26 Mcap

AbbVie Inc. (NYSE:ABBV)

$0.79

$0.82

Beat by $0.03

NA

$44.79

$0.27

1%

$427.6

$70,935.2

2Q13 revenues were $4.7B, up 4% from the $4.5B in 2Q12 and above the Street's estimate of $4.5B. AbbVie was spun out of Abbott Laboratories (NYSE:ABT) at the start of 2013. Global sales of autoimmune drug Humira adalimumab were up 12% to $2.6B, while sales of cholesterol drugs TriCor fenofibrate and Trilipix fenofibric acid declined by 66% to $107M due to the loss of patent exclusivity. The company narrowed its 2013 non-GAAP guidance to $3.07-$3.13 from $3.03-$3.13. The Street is expecting $3.12.

Alexion Pharmaceuticals Inc. (NASDAQ:ALXN)

$0.67

$0.73

Beat by $0.06

55%

$112.50

$0.33

0%

$64.4

$21,965.3

2Q13 sales of Soliris eculizumab, which accounted for all of Alexion's revenues, rose 35% to $370.1M from $274.7M in 2Q12. The Street was expecting $365M. Alexion raised its 2013 revenue guidance to $1.52-$1.53B from $1.51-$1.52B and non-GAAP EPS guidance to $2.97-$3.02 from $2.87-$2.97. Soliris is marketed for rare blood disorders paroxysmal nocturnal hemoglobinuria (PNH) and atypical hemolytic uremic syndrome (aHUS).

Alkermes plc (NASDAQ:ALKS) (A)

$0.22

$0.30

Beat by $0.08

-23%

$32.93

$1.75

6%

$237.5

$4,468.3

Revenues for fiscal 1Q ended June 30 came in at $138.6M, down 9% from $152.2M in the same period in 2012, but above the Street's estimate of $133.5M. Last year's fiscal 1Q included $20M of IP license revenues unrelated to key development programs. Manufacturing and royalty revenues from long-acting atypical antipsychotic drugs Risperdal Consta risperidone and Invega Sustenna paliperidone palmitate (Xeplion in the EU) were $56.2M, up from $48.6M in the same period last year. Both drugs are marketed by Johnson & Johnson (NYSE:JNJ) and use Alkermes drug delivery technology. The company reiterated its non-GAAP EPS guidance of $0.61-$0.75 on $395-$425M in revenues for the nine-month period ending Dec. 31, 2013. Alkermes is changing its fiscal year end from March 31 to Dec. 31.

Biogen Idec Inc. (NASDAQ:BIIB)

$1.93

$2.30

Beat by $0.37

26%

$223.23

-$7.04

-3%

-$1,671.9

$53,013.6