BioCentury
ARTICLE | Financial News

CORR, MDCO lower earnings guidance

October 3, 2001 7:00 AM UTC

Cardiovascular companies Cor (CORR) and Medicines Co. (MDCO) lowered their earnings guidance on Wednesday. CORR lowered its 2001 EPS guidance to $0.11-$0.13 from $0.18-$0.20. Both estimates exclude a $10 million milestone that CORR is eligible to receive from partner Schering-Plough (SGP). CORR also said it expects third quarter EPS to be $0.01. The previous Street consensus estimate was $0.08 for the third quarter. CORR said it lowered estimates to account for the lower than anticipated U.S. sales of Integrilin eptifibatide injection for acute coronary syndromes. The new guidance for 2001 worldwide sales of Integrilin is expected to be between $240-$250 million, down from CORR's prior guidance of $245-$260 million. CORR, which made the announcement in the late afternoon trading session, was down $1.63 to $20.60 on Wednesday. ...